Equity Group, led by star Kenyan banker James Mwangi, to raise salaries for female employees
Equity Group, led by Kenyan banker James Mwangi to increase salaries for female employees to narrow the gender pay gap and promote pay equity.
Equity Group, led by Kenyan banker James Mwangi to increase salaries for female employees to narrow the gender pay gap and promote pay equity.
James Mwangi, a prominent figure in Kenyan finance, holds a 3.38-percent stake in Equity Group, representing 127,809,180 ordinary shares.
Equity Group’s total assets rose to Ksh1.69 trillion ($12.91 billion) by the end of the quarter, a 10.46-percent rise from Ksh1.53 trillion ($11.69 billion) a year ago
Equity Group’s share price on the NSE has declined by 5.63 percent, dropping from Ksh44.4 ($0.3377) on Apr. 18 to Ksh41.9 ($0.3187) at the time of this update.
Mwangi, Kenya’s richest banker, holds a 3.38-percent stake in Equity Group. This equates to 127,809,180 ordinary shares.
The recent gain not only reinforces Mwangi’s standing as one of the top investors on the NSE but also strengthens his position as Kenya’s wealthiest banker.
The expansion follows a successful foray into life insurance in 2022 and subsequent approval from the Insurance Regulatory Authority (IRA) in May 2023 to establish a general insurance company.
Mwangi’s stake in Equity Group has hit the $30-million milestone.