We reduce our earnings estimates for Equity Group (the group) by 16.5% in FY23e and 16.8% in FY24e. It can largely be explained by higher operating expenses, up 11.7% in FY23e and 15.6% in FY24e, driven by inflation, foreign exchange (FX) devaluation, and increased investments (in IT, staff, and new subsidiaries) by the group. We […]
On June 14, 2023, Equity Group Holdings (EGH) announced the acquisition of a 91.93% stake in Cogebanque from a group of investors (including the Rwandan government and Rwanda Social Security Board) pending regulatory approval. It is an all-cash offer of RWF59.5 billion (c.USD52.4 million) or RWF297,406/share. The term sheet also stipulates that the Rwandan government […]
Grace Musoke* – 38 – whose background is in media and finance- has been investing at the Nairobi Securities Exchange for the past decade. She has a 9 to 5 job, while her husband is a small business owner who sells computer hardware. Alongside their jobs, they invest in a money market fund and they […]
EFG Hermes Kenya has launched an all-new digital onboarding process for its online trading platform, the EFG Hermes One Kenya App, a first in the frontier markets it operates. The streamlined digital onboarding process promotes financial inclusion in Kenya and the frontier markets in which it operates and supports Kenya’s commitment to digital transformation. It […]