Led by Kenyan banker James Mwangi, Equity Group posts over $200 million in profits in H1 2022
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 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.
Equity Group is listed on the Nairobi Securities Exchange and holds over $8.92 billion in assets.
Equity Group is a leading financial services holding based in Nairobi, the capital and largest city of Kenya.
The group is embarking on the deal to expand its operational footprint beyond its current markets.
The gains can be linked to the group’s better-than-expected financial results for Q1 2021.
The surge follows a rise in the company’s shares on the Nairobi Stock Exchange.