Equity Group invests Ksh. 996M in additional 7.7% stake in Equity Bank Congo

Equity Group invests Ksh. 996M in additional 7.7% stake in Equity Bank Congo
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Equity Group has acquired an additional 7.7% stake in Equity Bank Congo (EBC) from German sovereign wealth fund KfW. This latest acquisition is valued at Ksh. 996 million ($9 million) as part of a strategy to consolidate its banking subsidiaries in the Democratic Republic of the Congo (DRC).
This has consequentially raised Equity’s ownership in EBC to 94.3% and marked the latest investment in the subsidiary since its initial purchase of 66.53% stake in August last year.
“On November 27, 2020, Equity bought shares previously held by KfW in Equity Bank Congo S.A. for a consideration of $9 million (Sh996 million),” Equity noted in a statement.

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