Equity Group Holdings Plc today held its 21st Annual General Meeting (AGM), where shareholders overwhelmingly supported all proposed resolutions, signalling strong confidence in the Group’s leadership, strategy, and governance.
Held virtually and attended by shareholders from across the globe, the AGM featured key approvals set to shape the Group’s growth trajectory. Chief among these was the endorsement of a dividend payout totalling Kshs. 16 billion (approximately Shs444.9 billion), translating to Kshs. 4.25 per share (around Shs118 per share). The dividend, which represents a 34% payout ratio in line with the Group’s dividend policy of distributing 30%–50% of earnings, will be payable on or around 30th June 2025 to shareholders on record as of 23rd May 2025.
In a significant governance milestone, shareholders also approved a raft of policies aimed at aligning the Group’s operations with global best practices. These include new frameworks on directors’ remuneration, stakeholder engagement, transparency and disclosure, dispute resolution, and board appointment procedures. The policies are designed to strengthen accountability, promote ethical leadership, and ensure robust corporate governance across the Group’s operations.
The meeting also saw the election of a distinguished slate of Directors, bringing a wealth of global experience and expertise to the Board. Among those elected was Mrs. Farida Khambata, a leading figure in emerging markets finance with more than 30 years of experience in investment and risk management. Subject to regulatory approval, the Board also welcomed:
- Nick O’Donohoe – Development finance veteran and impact investment leader with over three decades in financial services.
- Dr. Aloysius Uche Ordu – International development strategist with extensive policy and innovation experience.
- Mr. Obadiah Barara – Seasoned public financial management professional with 37 years in audit and governance.
- Dr. Lakshmi Shyam-Sunder – Renowned expert in financial risk management, formerly with the World Bank Group.
- Eng. David Mutombo – Global infrastructure executive with over 20 years in sustainable energy and utilities.
Additionally, the appointment of Mr. Barara, Dr. Ordu, Dr. Shyam-Sunder, and Dr. Evanson Baiya to the Board Audit Committee was approved.
Furthering its continental and global reach, the Group secured shareholder approval to establish a Representative Office in the United Arab Emirates (UAE), subject to regulatory clearance. This initiative aims to bolster trade, business, and investment flows between East and Central Africa, the UAE, and broader markets across the Middle East, India, and Asia.
Equity Group Chairman, Prof. Isaac Macharia, lauded the Group’s resilience and strategic execution amid a turbulent global economic environment. “Despite navigating a complex macroeconomic landscape in 2024, Equity Group demonstrated agility, strength, and purpose. We continued to strengthen governance in our six markets, successfully integrated Cogebanque into Equity Bank Rwanda, and advanced our Africa Recovery and Resilience Plan,” he said.
He also highlighted recent innovations, including the launch of a health insurance subsidiary and plans for a banking holding company. “We are laying a strong foundation for sustainable and specialised growth, anchored on inclusive prosperity,” he added.
Dr. James Mwangi, Equity Group Managing Director and CEO, reaffirmed the Group’s positive outlook. “Our growth trajectory remains strong, driven by innovation, regional expansion, and sustainability. The UAE Representative Office will be a key platform for linking Africa to global trade and investment networks,” he said.
He further emphasised the Group’s commitment to sustainability. “We view sustainability not just as a corporate obligation but as a strategic imperative. We are embedding it into every aspect of our operations to drive long-term success and generate value for all stakeholders.”
Looking forward, Equity Group reiterated its commitment to wealth creation, sustainable development, and shareholder value. With a visionary leadership team, a solid track record of innovation, and a forward-looking strategy, the Group is well-positioned to seize emerging opportunities and continue its transformative journey across Africa in 2025 and beyond.
