Equity Group Holdings is actively pursuing acquisitions in Angola, Zambia, and Mozambique as it seeks to expand its regional presence along key mineral and trade corridors in Southern Africa.
Announcing the strategic push, Group CEO James Mwangi stated that the bank’s expansion strategy is guided by trade routes and customer flows rather than isolated country entry.
He highlighted the strategic importance of the US-backed Lobito Corridor, noting that Angola sits at its Atlantic end, Zambia serves as a critical connector, and Mozambique provides access to Asian markets.
“There is an opportunity we can get in Angola, Zambia and Mozambique. So it’s not just about countries; it’s about following our customers and following trade routes,” Mwangi told Reuters.
Current Performance and Regional Footprint
The expansion plans follow a strong performance in FY2025, during which Equity Group posted a 55% increase in profit after tax to KSh 75.50 billion.
Regional subsidiaries contributed 51% of banking profit before tax. In the Democratic Republic of Congo, where Equity is now the second-largest lender, profit surged 58% to KSh 24.70 billion.
The group currently operates subsidiaries in the Democratic Republic of Congo, Uganda, Rwanda, Tanzania, and South Sudan.
If successful in Mozambique, this would mark Equity’s sixth subsidiary outside Kenya. The long-term ambition is to be present in 15 African countries by 2030.
Strategic Rationale
Equity’s approach is corridor-focused rather than purely country-based. The bank aims to follow trade flows and customer needs, particularly along major infrastructure corridors that facilitate mineral exports, regional trade, and cross-border commerce.
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This strategy allows for greater synergies, operational efficiency, and risk diversification across interconnected markets.
Progress in Angola is the most advanced, with plans to acquire a majority stake in an undisclosed local bank in 2026.
Expansion into Ethiopia has been slower due to regulatory caps limiting foreign ownership to 40% in any single bank.
Looking Ahead
Equity Group Holdings’ pursuit of bank acquisitions in Angola, Zambia, and Mozambique reflects a deliberate strategy to expand along key Southern African trade and mineral corridors.
By following customer flows and trade routes rather than pursuing isolated market entry, the bank is positioning itself as a truly pan-African financial services group.
Supported by strong 2025 financial performance and a clear long-term vision of operating in 15 African countries by 2030, this expansion solidifies Equity’s transformation from Kenya’s leading bank into a regional powerhouse.
Equity Group Holdings Overview
Equity Group Holdings is a regional banking and financial services provider operating across East and Central Africa.
Equity Group subsidiaries
Key subsidiaries include:
- Equity Bank Kenya
- Equity Bank Uganda
- Equity Bank Rwanda
- Equity Bank Tanzania
- Equity Bank South Sudan
- Equity Bank DR Congo
- Equity Insurance
- Equity Investment Bank
Equity Group Foundation portal
The Equity Group Foundation portal is used for scholarship applications, Wings to Fly program, and youth opportunities.
Equity Group Holdings login
Login is available via online banking portals for personal and business accounts.
Equity Group Holdings share price
Listed on the Nairobi Securities Exchange under ticker EQTY, with share price typically ranging around KSh 35–50 depending on market conditions.
Equity Bank Group
Refers broadly to the banking arm and subsidiaries delivering retail banking, SME finance, and digital financial services across Africa.
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