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Kenya’s wealthiest banker takes a $3 million hit on Equity Group stake

Summary by Billionaires.Africa

Key PointsKenya’s richest banker, James Mwangi, saw his holding in East Africa’s largest lender decline as shares fell 4.37% over the past month.The lender’s market cap dipped below $1.4 billion as investors adjusted portfolios ahead of earnings reports and final dividend announcements.Regional subsidiaries contributed nearly 50% of the bank’s $317.4 million profit in the first nine months of 2024, fueling strong earnings.After gaining more than…

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Billionaires.Africa

Kenya’s wealthiest banker takes a $3 million hit on Equity Group stake

Key PointsKenya’s richest banker, James Mwangi, saw his holding in East Africa’s largest lender decline as shares fell 4.37% over the past month.The lender’s market cap dipped below $1.4 billion as investors adjusted portfolios ahead of earnings reports and final dividend announcements.Regional subsidiaries contributed nearly 50% of the bank’s $317.4 million profit in the first nine months of 2024, fueling strong earnings.After gaining more than…

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Billionaires.Africa broke the news in 17 hours ago on Saturday, February 22, 2025.

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