Equity Group is moving to separate its fast-growing digital business from the core bank, in a major shift aimed at strengthening its position in Africa’s fintech market.
The bank plans to create a new, independent company by the second half of 2026 that will take over all its digital financial services. This includes products currently run under its Finserve unit, such as Equitel.
The decision reflects Equity’s push to evolve beyond traditional banking and focus more on technology-led services. By spinning off the unit, the Group hopes to run its digital operations more efficiently, cut costs, and fully tap into the value of its rapidly expanding fintech platforms.
The new company will be headed by Technology Managing Director Sarah Kabira and supported by a team of experienced global tech professionals, including Eve Ngigi, John Kamara and Johnny Falla—bringing expertise from major international firms.
Speaking in Nairobi while releasing the bank’s 2025 financial results, CEO James Mwangi said the move is a key part of Equity’s long-term strategy. He noted that the Group is investing heavily in advanced digital systems and artificial intelligence to reach more customers, lower service costs and widen access to financial services.
The spin-off is also central to Equity’s broader 2030 plan, which aims to grow its presence to 15 countries and serve up to 100 million customers. The Group is repositioning itself as more than a bank, seeking to connect businesses, capital and markets across Africa.
Equity is entering this transition from a strong financial base. Its net profit rose sharply to KSh75.5 billion (about $580 million) in 2025, up from KSh48.8 billion the previous year, while total assets climbed to KSh1.97 trillion.
Its regional businesses are now a major driver of growth, contributing more than half of profit before tax. With operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan and the Democratic Republic of Congo, the Group is increasingly using its digital platforms to support cross-border trade and help small businesses reach new markets.
