Kenya’s Richest Banker, James Mwangi, Earns Close to $4 Million Within a Fortnight

Kenya’s richest banker, James Mwangi, the managing director and CEO of Equity Group, has seen his net worth skyrocket in the last two weeks as the market value of his stock in the Nairobi-based financial services business has risen sharply.

Over the last 14 days, the market value of Mwangi’s holding in Equity Group has increased by Ksh511.24 million ($3.89 million) as investors maintained their buying interest in the top lender.

Equity Group has grown as a dominant force in East and Central Africa, thanks to the leadership of Managing Director and CEO James Mwangi. Mwangi’s strategic vision has propelled the lender’s expansion throughout the region, with operations operating in Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of Congo.

Since March 19, the share price on the Nairobi Securities Exchange (NSE) has increased by 9.3 percent, from Ksh43 ($0.3273) to Ksh47 ($0.3576). This latest jump has increased the lender’s market valuation beyond $1.3 billion, providing significant value to stockholders.

Equity announced a record dividend payout of Ksh15.1 billion ($114.4 million) to shareholders, leading to an increase in share price and market valuation. This demonstrates the company’s commitment to shareholder returns.

James Mwangi, Equity global’s global managing director and CEO, owns a 3.38 percent share in the Nairobi-based financial services company. This amounts to 127,809,180 ordinary shares of the biggest lender.

Mwangi’s investment has increased in value by Ksh511.24 million ($3.89 million) during the last two weeks, boosted by a recent spike in Equity Group’s share price. His stake increased to Ksh6.01 billion ($45.76 million) at the close of business today, from Ksh5.5 billion ($41.87 million) on March 19.

The new gain not only confirms Mwangi’s status as one of the NSE’s top investors, but it also improves his position as Kenya’s wealthiest banker, showing Equity Group’s performance under his leadership.



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