Equity Bank Group Investor Roadshow in Nairobi and Kinshasha

We recently attended an investor roadshow organised by Equity Bank in Nairobi and Kinshasa. In contrast to Lagos, despite electricity shortages in Kinshasha, there was no sound of diesel generators, and hospitality was far better. The mining sector remains the dominant driver of the Democratic Republic of Congo’s (DRC) GDP growth with a positive trickle-down effect in hospitality (significant increase in capacity), infrastructure (pipeline of Public Private Partnership (PPP) projects), real estate (skyline dotted with cranes), and Fast Moving Consumer Goods (FMCG) (string of supermarket chains) sectors. Finally, the DRC has yet to unlock the benefits of being part of the East African Community (EAC) trading bloc.

The Equity Bank Group DRC subsidiary’s strategy is to grow the SME portfolio by banking the value chain around corporate client relationships established by Banque Commerciale du Congo (BCDC). The growth opportunity in non-funded income is significant, especially in trade finance, mobile banking, and cash management.

Our clients can request the full report (link to the blog). It includes our policy takeaways from interactions with the Governor of the Central Bank of Kenya (CBK) and Treasury Cabinet Secretary, first impressions of Kinshasha, Equity Bank Group Management discussions on the DRC opportunity, and Kenyan fund managers’ predictions for the Kenya Shilling FX, five-year bond yields, and best-performing stock in FY2023.