Equity announces plans to acquire BCDC, DRC’s second biggest bank

Mary Wamae - Executive Director Subsidiaries Equity Group and Dr. James Mwangi, Managing Director and CEO, Equity Group Holdings PLC
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Equity Group has announced that it plans to acquire a controlling stake in Banqué Commerciale du Congo (BCDC), which operates in Democratic Republic of Congo (DRC).

BCDC is licensed by the Central Bank of Congo to provide banking services in DRC. It was founded in 1909 as Banque du Congo Belge. It is the second largest bank in the Democratic Republic of the Congo as measured by balance sheet and shareholders equity.

Equity plans to acquire a controlling equity stake in BCDC in cash and it intends to amalgamate the business with its subsidiary Equity Bank Congo. The deal is subject to shareholder approvals and the receipt of regulatory approvals from the Capital Markets Authority (CMA), the Central Bank of Kenya (CBK), the Central Bank of Congo and competition regulators.

The banking group is advising its shareholders to exercise caution when dealing in its ordinary shares on the Nairobi Securities Exchange (NSE), the Uganda Securities Exchange and the Rwanda Stock Exchange.

This acquisition will help Equity expand its footprint in Africa. The company’s African footprint includes operations in Kenya, Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of the Congo. The companies in the group include;

The companies that compose the Equity Group Holdings Limited include but are not limited to the following:

  1. Equity Bank Kenya Limited – Nairobi, Kenya Kenya – 100% Shareholding – A commercial bank in Kenya, serving individuals and businesses.
  2. Equity Bank Rwanda Limited – Kigali, Rwanda Rwanda – 100% Shareholding – A commercial bank in Rwanda, serving both individuals and businesses.
  3. Equity Bank South Sudan Limited – Juba, South Sudan South Sudan – 100% Shareholding – A commercial bank in South Sudan.
  4. Equity Bank Tanzania Limited – Dar es Salaam, Tanzania Tanzania – 100% Shareholding – A commercial bank in Tanzania.
  5. Equity Bank Uganda Limited – Kampala, Uganda Uganda – 100% Shareholding – A commercial bank in Uganda.
  6. Equity Bank Congo – Kinshasa, Democratic Republic of the Congo Democratic Republic of the Congo: 86% Shareholding – A commercial bank in DR Congo.
  7. Equity Consulting Group Limited – Nairobi, Kenya Kenya
  8. Equity Insurance Agency Limited – Nairobi, Kenya Kenya – 100% Shareholding – The insurance agency arm of the group. Offering bancassurance services to customers
  9. Equity Nominees Limited – Nairobi, Kenya Kenya – 100% Shareholding – A Nominee company. Holding investments on behalf of customers.
  10. Equity Investment Bank Limited – Nairobi, Kenya Kenya – 100% Shareholding – An investment bank in Kenya. A member of the Nairobi Securities Exchange and licensed by the Capital Markets Authority.
  11. Finserve Africa Limited – Nairobi, Kenya Kenya – 100% Shareholding – It operates a mobile virtual network operator (MVNO) in Kenya and is also a technology company.
  12. Equity Group Foundation – Nairobi, Kenya Kenya – 100% Shareholding – The philanthropy and corporate social responsibility arm of the group.
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