Equity Group buys KfW’s US$9.3m stake in Congo bank

DRC – Equity Group  acquired an additional 7.7 per cent stake in Equity Bank Congo (EBC) from German sovereign wealth fund KfW for US$9.3 million as part of a strategy to consolidate its banking subsidiaries in the Democratic Republic of the Congo. This raised its ownership in EBC to 94.3 per cent and marked the latest investment in the subsidiary since the Kenyan banking multinational purchased its initial 79 per cent stake in September 2015 for Sh4.5 billion. “On November 27, 2020, Equity bought shares previously held by KfW in Equity…

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Equity Group picks Yves Cuypers as head of the newly created Central and Southern Africa office

DRC – Equity Group Holdings has created a new regional office for Central And Southern Africa Region and appointed of Yves Cuypers as the first Equity Group Holdings Plc., Regional Director in charge. Yves is the immediate former Managing Director of Banque Commerciale du Congo (BCDC) which has since merged with Equity Bank Congo (EBC) to form Equity BCDC, the second largest bank in the Democratic Republic of Congo. The appointment signals the Group’s strategy to expand its presence outside of Eastern Africa by creating a dedicated sub-continent office for Central…

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Equity Group completes transaction of acquisition of majority stake in BCDC

KENYA – Equity Group Holdings PLC has announced the completion of its acquisition of 66.53% stake in the Banque Commerciale Du Congo (BCDC) at a cost of US$95 Million. Equity Group now has two subsidiaries in the Democratic Republic of Congo having earlier acquired ProCredit, a German bank, now Equity Bank Congo. BCDC is the oldest bank in the country, having been established in 1909. “We have been fortunate to have had the opportunity to acquire two of the most solid banks in the market,” said Dr.  Mwangi, the Group…

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Equity Group gets approval to acquire majority stake Congolese lender for US$105m

DRC – Equity Group, a financial services holding company, has got the green light to acquire KSh10.9 billion (US$105 million) controlling stake in Banque Commerciale du Congo (BCDC), one of the top banks in the Democratic Republic of Congo, in a deal that will deepen its influence in the populous Central African country. According to Business Daily, the stake is currently held by George Arthur Forrest family, one of the wealthiest families in DRC and Equity had approached it last year. The clearance paves the way for Equity to finalise…

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