Equity raises stake in Congo subsidiary through buyout, cash call
Equity Group CEO James Mwangi (left) and former Kenyan President Uhuru Kenyatta (2nd left) during the unveiling of EquityBCDC in DR Congo in 2021. Equity Group Holdings Ltd has increased its investment in DRC by $76.7 million. PHOTO | FILE
Kenyan lender Equity Group Holdings Ltd has increased its investment in the Democratic Republic of Congo (DRC) by $76.7 million after a buyout of smaller stakeholders.
The bank says it acquired additional 6.6 percent shares in EquityBCDC, DR Congo’s second largest bank by assets, through a buyout of minority shareholders and dilution of other shareholders through a cash call.
