Kenyan businessman James Mwangi’s Equity Group signs MOU with Uganda National Oil Company
Equity Bank Uganda is one of many operating subsidiaries of Equity Group Holdings.
Equity Bank Uganda is one of many operating subsidiaries of Equity Group Holdings.
Bidco Africa is a multinational consumer goods company.
Mbaru owns a significant 7.72-percent stake in Britam Holdings.
Mwangi owns a significant 3.38-percent stake in Equity Group.
The merger will result in the creation of the second-largest bank in Rwanda’s banking industry.
With stakes worth more than $20 million in Kakuzi, Kimani is one of the richest investors on the Nairobi Stock Exchange.
The proposed deal comes after the Oigara-led group expressed interest in negotiating another acquisition in Tanzania.
Under Oigara, the group’s assets have increased in value from $3.41 billion at the end of 2013 to $8.64 billion by the end of 2020.
Equity Group is East and Central Africa’s largest financial services group.