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128 Equity Leadership Program scholars have secured admission and scholarships to join 62 global universities located in 19 countries around the world. Equity Group Foundation (EGF) Executive Chairman Dr. James…
113 Equity Leadership Program scholars have secured admission and scholarships to join 71 global universities located in 22 countries around the world. Equity Group Foundation (EGF) Executive Chairman Dr. James Mwangi commissioned the airlift of the 113 scholars drawn from the Equity Leaders Program in four countries – Kenya (82), Rwanda (21), Uganda (8) and the Democratic Republic of Congo (DRC) (2). The scholars have secured scholarships valued at Ksh 2.7 billion (USD 21 million) for the 4-year duration of their undergraduate studies, and each scholar will receive an airlift token of Kshs. 200,000 to support their transition into the…
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Equity Group half year results continue to reflect a sustained digital transformation with 99% of all customer transactions now happening outside the branch network. Releasing the results, Dr James Mwangi, Group Managing Director and CEO noted that Covid-19 acted as a tailwind to their efforts of digitising the business. “The business transformation has supported recovery and built resilience in the business. Going online and virtual through digitisation has brought ease and convenience to our customers resulting in increased uptake of our products and growth of the business”, added Dr Mwangi. The Group’s recovery and resilience strategy saw the Group’s profit…
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Equity Group and the International Finance Corporation (IFC) have signed a partnership agreement in support of the sustainable development of Africa through supporting micro, small and medium sized businesses (MSMEs) from all sectors of the economy including climate-smart businesses. The partnership has seen IFC and its partners including the Dutch Development Bank (FMO), British International Investment (BII) and Symbiotics, ResponsAbIility from Switzerland commit US$165 million (approx. Kes 19 billion) towards Equity’s `Africa Recovery and Resilience Plan’ that will see the Group, through its regional banking subsidiaries, finance at least 5 million MSMEs and 25 million households therefore creating 50 million…
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Equity Bank Uganda and the Uganda National Oil Company (UNOC) have signed a Memorandum of Understanding, to facilitate and strengthen collaboration between the two entities in the areas of financing and enterprise development specifically for MSMEs, clean energy use and environmental conservation sectors. Also, financing will be supplied in support of farmers, education and training for young people and more affordable and accessible health systems for all. Speaking during the signing ceremony which took place at the Kampala Serena Hotel during the 8th Annual Oil and Gas Convention, Equity Group Holdings Plc Group Managing Director, and CEO Dr. James Mwangi,…
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Equity Group has recorded superior performance for the year ended 31st December 2021 despite the challenging operating environment characterised by a global COVID-19 pandemic. Profit After Tax increased by 99% to Kshs 40.1 billion from Kshs 20.1 billion with Profit Before Tax recording a growth of 134% to Kshs 51.9 billion up from Kshs 22.2 billion the previous year. The Group has recommended a record dividend pay-out of Kshs 3 per share totalling Kshs 11.3 billion which is a 50% jump from previous dividend pay-out after earnings per share grew by 98% to Kshs 10.40 up from Kshs 5.20 the…
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Equity Group has launched a private sector focused stimulus package to accelerate economic recovery and resilience in the Eastern and Central Africa region as it recovers from the devastating health, social, humanitarian, and economic impacts of the COVID-19 pandemic. Equity’s Eastern and Central Africa Recovery and Resilience plan is envisaged to provide financing of up-to 2% of the combined GDP of the six economies, in which the Group operates, to the private sector in the form of blended financing of short-term overdrafts, medium term loans and credit facilities which require long-term project and development financing. While launching the Recovery and…
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Equity Group Holdings (EGH) has signed a USD $100 million (UGX364 Billion) loan facility to support its expansion across Eastern and Central Africa, enhancing its ability to serve small and medium enterprises (SMEs as it grows. In addition to operating in 7 African countries – Kenya, Rwanda, Uganda, South Sudan, Tanzania, the Democratic Republic of the Congo and Ethiopia – the Group has recently expanded its operations in the DRC by merging its existing operations of Equity Bank Congo with its acquisition of BCDC to form EquityBCDC, now the second largest financial services company in the country. At the signing,…
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