• About
  • Advertise
  • Privacy & Policy
  • Contact
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.
Advertisement
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
No Result
View All Result
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
No Result
View All Result
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.
No Result
View All Result
Home News

Equity Group in Talks to Acquire Four African Banks at Sh10 billion

by
30th April 2019
in News
0
Equity Group in Talks to Acquire Four African Banks at Sh10 billion
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Kenya’s second-biggest bank by assets has announced that they have entered into a discussion with Atlas Mara Limited on the acquisition of bank stakes in Zambia, Rwanda, Mozambique and Tanzania.

This is the third major deal announcement by the Equity Bank among other leading lenders since 2016 when the government crapped the commercial lending rates. Since then, local financial institutions were forced to seek alternative means of survival, consolidation being one of them.

In its announcement, Equity Group said that the negotiations would see the bank sign agreements to acquire Rwanda’s Banque Populaire du Rwanda through a 62 per cent share swap, and 100 percent of African Banking Corporation of Zambia, African Banking Corporation Tanzania and African Banking Corporation Mozambique.

The bank has further stated that they intend to issue 252,482,300 new shares, which represents 6.27 per cent of its expanded share capital.

“This implies that the monetary value of the consideration to be paid is the equivalent of 10.7 billion shillings (equivalent to approximately $105.4 million),” Equity said.

In the event that the deal will be through successfully after undergoing regulatory approvals in various countries, then Atlas Mara would automatically be a shareholder of Equity.

Previously, a similar move was taken by Kenyans biggest lender by assets, Kenya Commercial Bank (KCB) offered to buy National Bank through a share swap.

PLOTS AND HOUSES FOR SALE
Kenya2U has Great Property Deals Just for You!
• Intercity Gardens in Kitengela@ Ksh1.895M
• Tinga Springs in Kajiado @ Ksh99,000
• Ruaka Ridge homes in Ruaka @ Ksh7.1M
• Grey Oak property in Nanyuki @ Ksh350,000
• Grey Oak property in Athi River @ Ksh450,000
• Blue Bells Apartment along Beijing Road @Ksh7.4M
• inFinity Properties in Kantafu @Ksh 625,000
Call 0742343908 to Book yours Now!

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to print (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Skype (Opens in new window)

Like this:

Like Loading...

Related

Previous Post

Esipisu Urges Kenyan Diaspora in UK to Help Strengthen Tourism Links Abroad

Next Post

Britain’s Foreign Secretary Jeremy Hunt to Visit Kenya for Trade Links Talk

Next Post
Britain’s Foreign Secretary Jeremy Hunt to Visit Kenya for Trade Links Talk

Britain’s Foreign Secretary Jeremy Hunt to Visit Kenya for Trade Links Talk

  • Trending
  • Comments
  • Latest

Do You Know the Requirements for Your Passport Collection in Kenya?

9th October 2023
Chilli Farming in Kenya, The Untapped Venture

Chilli Farming in Kenya, The Untapped Venture

17th January 2025
kenya2uhub.com

List of Chinese Construction Companies in Africa

5th February 2021
Raspberry Farming in Kenya: the sign of sucess

Raspberry Farming in Kenya: the sign of sucess

14th February 2022
Kenyans in UAE Diaspora to Benefit from EXPO 2020 Dubai

Kenyans in UAE Diaspora to Benefit from EXPO 2020 Dubai

3
Influencer marketing in Kenya. Image is a collage of camera, tablet with a social feed showing on screen and other pieces used for digital content creation.

Why You Should Be Considering The Use Of Influencers In Your Business – Let’s Talk Digital.

1

Aljazera interview with Uhuru – Tuesday 22nd

0

Tazama

0
President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

23rd January 2025
Looking for a Market for Your Chilli Produce?

Looking for a Market for Your Chilli Produce?

23rd January 2025

Recent News

President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

Hyatt Hotels Corporation Debuts in Kenya with the Opening of Hyatt Regency Nairobi Westlands

23rd January 2025
Looking for a Market for Your Chilli Produce?

Looking for a Market for Your Chilli Produce?

23rd January 2025
Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.

Promoting and Connecting investment opportunities and businesses both in the Diaspora and in Kenya for Kenyans in Diaspora.

Follow Us

Browse by Category

  • Ads & Trades
  • Business
  • Entertainment
  • Fintech
  • Food
  • Gaming
  • Hospitality
  • KCB DIASPORA AGENT
  • Lifestyle
  • News
  • News
  • Real Estate
  • Sports
  • Tech
  • Travel
  • World

Recent News

President Ruto Lauds Kenyan Diaspora for  Significant Contribution to Country’s Economy

President Ruto Lauds Kenyan Diaspora for Significant Contribution to Country’s Economy

31st January 2025

The First Volkswagen Beetle Ambassador in Kenya; Chief Njiiri wa Karanja

30th January 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© Copyright 2022 Kenya2uhub.com Powered by Domains Africa Technologies

No Result
View All Result
  • Home
  • About Us
  • News
  • Business
  • Fintech
  • Real Estate
  • Hospitality
  • Contact Us
  • KCB Diaspora Agent
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...
 

    %d bloggers like this: