Equity Group Holdings Plc, a leading financial services provider in East and Central Africa, held its 21st Annual General Meeting (AGM) virtually, with shareholders worldwide endorsing a series of pivotal resolutions that signal robust confidence in the Group’s strategic direction and governance framework.
Shareholders approved a substantial dividend payout of Kshs. 16 billion (approximately UGX 444.9 billion), equating to Kshs. 4.25 (approximately UGX 118) per share, to be disbursed on or about June 30, 2025, for shareholders on record by May 23, 2025.
This payout, representing a 34% dividend payout ratio, aligns with the Group’s policy of distributing 30% to 50% of profits, underscoring its commitment to delivering value to investors while maintaining financial resilience.
Governance Enhancements Take Center Stage
In a move to align with global best practices and regulatory requirements, shareholders greenlit several governance policies, including frameworks for directors’ remuneration, stakeholder engagement, transparency and disclosure, dispute resolution, and board appointments. These policies aim to bolster accountability, promote ethical leadership, and ensure Equity Group adheres to the highest corporate governance standards.
The AGM also saw the election of a dynamic slate of new directors, bringing diverse expertise to the Board. Mrs. Farida Khambata, a global expert in emerging markets finance, and Mr. Nick O’Donohoe, a leader in development finance, were among the appointees, alongside Dr. Aloysius Uche Ordu, Mr. Obadiah Barara, Dr. Lakshmi Shyam-Sunder, and Eng. David Mutombo.
Their collective experience spans investment, risk management, public finance, and sustainable infrastructure, positioning the Group for strategic growth. Additionally, shareholders approved the appointment of Mr. Obadiah Biraro, Dr. Aloysius Uche Ordu, Dr. Lakshmi Shyam-Sunder, and Dr. Evanson Baiya to the Board Audit Committee, further strengthening oversight.
Strategic Expansion into the UAE
A significant milestone from the AGM was the approval to establish a Representative Office in the United Arab Emirates (UAE), pending regulatory approvals. This strategic move aims to enhance trade and investment linkages between East and Central Africa, the UAE, and broader regions like the Middle East, India, and Central and South Asia. The office is poised to unlock new opportunities for cross-border business and economic collaboration.
Leadership Highlights Resilience and Vision
Prof. Isaac Macharia, Chairman of Equity Group Holdings Plc, emphasized the Group’s resilience in navigating a challenging global macroeconomic environment in 2024. “Despite complexities, we remained agile and purpose-driven, strengthening governance across our six markets and advancing strategic initiatives like the integration of Cogebanque into Equity Bank Rwanda,” he said.
Macharia also highlighted the Group’s commitment to its Africa Recovery and Resilience Plan, with initiatives like the launch of a health insurance subsidiary and plans for a banking holding company signaling a focus on sustainable, specialized growth.
Dr. James Mwangi, Managing Director and CEO, echoed this optimism, underscoring the Group’s innovation-driven growth trajectory. “The UAE Representative Office marks a bold step in connecting Africa with global markets,” Mwangi noted. “Sustainability is at the core of our strategy, ensuring we create value for stakeholders while safeguarding the planet for future generations.”
A Vision for Sustainable Impact
Equity Group’s commitment to inclusive prosperity was evident in its focus on MSME financing, education, healthcare, and clean energy access. These efforts, combined with strong risk oversight and enhanced board capacity, position the Group to drive transformative impact across Africa. With a clear strategic vision and a bolstered leadership team, Equity Group is well-equipped to capitalize on emerging opportunities and deliver long-term value in 2025 and beyond.
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