
Kenyan businessman James Mwangi donates $1 million to support families facing extreme hunger
Kenya is suffering from its worst drought in decades.
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.
Equity Group has grown to become East and Central Africa’s largest financial services firm.
Mwangi holds a 3.38-percent stake, or 127,809,180 shares, in the financial services group.