Sharp Daily
No Result
View All Result
Monday, October 6, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Equity Group Holdings completes acquisition of Rwandan bank

Brian Murimi by Brian Murimi
December 1, 2023
in News
Reading Time: 1 min read

Equity Group Holdings Plc announced Friday the completion of its acquisition of a 99.13% stake in Compagnie Generale de Banque (Cogebanque) PLC, a bank based in Rwanda.

The $51 million deal “will enable EGH to consolidate its position in Rwanda and is an important step towards the attainment of its vision of being Sub-Saharan Africa’s premier financial institution,” said Group Managing Director and CEO Dr. James Mwangi.

EGH originally announced its intention to acquire Cogebanque on June 14 and signed a share purchase agreement with the Rwandan government, Rwanda Social Security Board and other shareholders on July 28. After receiving all necessary regulatory approvals over the past four months, the acquisition was finalized Thursday.

“We are delighted to welcome Cogebanque’s employees and customers to Equity Group,” Mwangi said.

RELATEDPOSTS

Lessons from Equity Bank’s M-Pesa scandal

May 22, 2025

Rwanda suspends development cooperation with Belgium over political interference

February 19, 2025

“Through the combined businesses of Equity Rwanda and Cogebanque, EGH aims to provide even better access to competitive, tailored financial services to improve lives and livelihoods of the people of Rwanda,” he added.

The bank said it will soon commence the process of merging Cogebanque’s operations with those of its existing Rwandan subsidiary, Equity Bank Rwanda Plc. Mwangi noted the deal furthers Equity’s goal of becoming “Sub-Saharan Africa’s premier financial institution.”

Founded in 1963, Cogebanque was 66% owned by the Rwandan government before the acquisition. It operates 16 branches across Rwanda and has $289 million in assets, according to its 2021 annual report.

Previous Post

Eaagads posts KES 33 million loss as coffee reforms hit home

Next Post

Unga Holdings to lay off 50 staff, cites financial struggles

Brian Murimi

Brian Murimi

Brian Murimi is a journalist with major interests in covering tech, corporates, startups and business news. When he's not writing, you can find him gaming, watching football or sipping a nice cup of tea. Send tips via bireri@thesharpdaily.com

Related Posts

News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025

LATEST STORIES

The Role of Micro-Pensions Plans in Kenya

October 3, 2025

Understanding the link between international aid and cooperative finance stability in Sub-Saharan Africa

October 3, 2025

Kenya Pipeline Company IPO

October 3, 2025

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025

Kenya’s Regulated SACCOs Cross Trillion Shilling Mark

October 2, 2025

Post-September review: What CMMF did and what’s next

September 26, 2025

Strengthening water utilities through efficiency and accountability

September 26, 2025

Retirement Benefits Schemes Trustee Governance in Kenya

September 26, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024