PH
Kenya’s richest banker, James Mwangi, the managing director and CEO of Equity Group, a key financial services provider in East and Central Africa, has seen his stake in the Nairobi-based lender expand significantly in market value.
Over the last 40 days, Nwangi’s stock in Equity Group has climbed by $5.77 million, consolidating his status as one of Kenya’s wealthiest individuals as investors revive their interest in the region’s top lenders.
Equity Group, led by managing director and CEO James Mwangi, has emerged as a major player in East and Central Africa in recent years. Mwangi’s strategic vision has taken the lender’s activities to other countries, including Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of the Congo.
Equity Group’s shares on the Nairobi Securities Exchange have recently increased from Ksh37.2 ($0.279) on February 8 to Ksh43.20 ($0.325), marking a 16.13 percent gain for owners. This has increased the group’s market valuation beyond $1 billion.
James Mwangi, Kenya’s richest banker, owns a 3.38 percent investment in Equity Group, which translates to 127,809,180 ordinary shares in the major financial services group.
The market value of his Equity Group share has risen by Ksh766.86 million ($5.77 million) in the last 40 days, from Ksh4.75 billion ($35.77 million) on February 8 to Ksh5.52 million ($41.54 million).
This spike not only validates Mwangi’s position among the top investors on the Nairobi Securities Exchange, but it also confirms his reputation as one of Kenya’s wealthiest individuals, highlighting Equity Group’s success under his strategic leadership.
