Kenyan tycoon James Mwangi suffers $2.1-million loss from Equity Group stake
Mwangi owns a 3.38-percent stake in Equity Group, or 127,809,180 ordinary shares.
Mwangi owns a 3.38-percent stake in Equity Group, or 127,809,180 ordinary shares.
The move aligns with its strategy to bolster earnings and revenue by expanding its reach across East Africa.
Under Mwangi’s leadership, Equity Group evolved into an integrated financial services group with active operations spanning six African countries.
Mwangi credited the growing influence of Equity Group’s subsidiaries, especially the DRC unit, for the overall performance of the group in the first nine months of 2023.
Under the leadership of Mwangi, Equity Group has solidified its position as a dominant force in East and Central Africa.
According to the latest list, well-known Kenyan business figures like John Kimani, James Mwangi and Gideon Muriuki have taken a hit in their wealth so far this year.
Mwangi, the managing director and CEO of Equity Group, shared details of this ambitious plan during a recent interview in Kenya.
Mwangi has played a key role in Equity Group’s expansion over the years, leading the expansion of the lender’s operations into multiple countries.
Equity Group has become a dominant force in East and Central Africa under the leadership of Mwangi, who owns 3.38 percent of the group.
Equity Group has become a dominant force in East and Central Africa under the leadership of Mwangi, who owns 3.38 percent of the group.
Under the visionary leadership of Mwangi, Equity Group has emerged as a dominant force in East and Central Africa.
Equity Group has become a dominant force in East and Central Africa under Mwangi, who owns 3.38 percent of the group.
Equity Group, under the leadership of Mwangi, reported a profit of $182.8 million at the end of the first half of its 2023 fiscal year.
Mwangi derives the majority of his wealth from a 3.38-percent stake in Equity Group.
Leading Kenyan billionaires such as Mbaru, Munga, and Mwangi hold significant stakes within the conglomerate.
Under Mwangi, Equity Group achieved record-breaking profits of $350 million at the end of the 2022 fiscal year.