
James Mwangi-led Equity Group to pay KRA $91.6 million as corporate taxes in 9M 2022
Equity Group is the largest financial services conglomerate in East Africa.
Equity Group is the largest financial services conglomerate in East Africa.
Mwangi owns a sizable 3.38-percent stake in Equity Group.
Kenya is suffering from its worst drought in decades.
Kenyan billionaire Mwangi owns a sizable 3.38-percent stake in Equity Group.
Mwangi owns 3.38 percent of the financial services group.
Mwangi owns a sizable 3.38-percent stake in Equity Group.
The acquisition could present additional challenges and opportunities to Equity Group.
Mwangi’s 3.38-percent share in Equity Group is valued at $51.3 million at the current market price.
Mwangi’s 3.38-percent stake has now risen in value to $51.71 million.
Under Mwangi’s leadership, Equity Group has grown into the largest financial services group in East and Central Africa.
Mwangi’s loss comes on the heels of a reduced appetite for emerging market shares.
Its total investment in the country is now $148.4 million.
This follows the lender’s record-high profit of $350.2 billion in 2021.
As of press time, Mwangi’s stake in the Kenyan financial services group is valued at $52.81 million.
Equity Bank Uganda is one of many operating subsidiaries of Equity Group Holdings.
Mwangi owns a significant 3.38-percent stake in Equity Group.