Africa-Press – Uganda. Equity Group Holdings Plc has approved a Kshs. 16 billion dividend payout and cleared key governance and expansion resolutions during its 21st Annual General Meeting (AGM) held virtually.
Shareholders endorsed a dividend of Kshs. 4.25 per share, payable by 30th June 2025 to shareholders on record as of 23rd May. The payout reflects a 34% distribution of the Group’s 2024 earnings, in line with its 30–50% dividend policy.
The AGM also ratified the appointment of new Board Directors, strengthening the Group’s leadership capacity. Confirmed members include:
Mrs. Farida Khambata, investment and risk expert
Mr. Nick O’Donohoe, development finance specialist
Dr. Aloysius Uche Ordu, policy and financial innovation strategist
Mr. Obadiah Barara, public finance expert
Dr. Lakshmi Shyam-Sunder, former World Bank risk officer
Eng. David Mutombo, infrastructure and utility executive
In addition, Dr. Evanson Baiya and three new board members—Dr. Ordu, Dr. Shyam-Sunder, and Mr. Obadiah Biraro—were appointed to the Board Audit Committee.
Key governance policies on directors’ remuneration, stakeholder engagement, transparency, dispute resolution, and board appointments were adopted to align with international best practices.
Shareholders also approved the establishment of a Representative Office in the United Arab Emirates (UAE), pending regulatory clearance.
The Dubai-based office will facilitate trade, investment, and diaspora banking between East and Central Africa, the Middle East, and South Asia.
Equity Chairman Prof. Isaac Macharia said the Group had navigated a tough macroeconomic environment while consolidating operations across six markets. Notable milestones include the integration of Cogebanque into Equity Bank Rwanda and the launch of a health insurance subsidiary.
Group CEO Dr. James Mwangi added that the UAE office represents a strategic step to connect African markets to global capital and trade flows, with a focus on sustainability, innovation, and regional growth.
Equity Group says it remains focused on delivering long-term value through financial inclusion, trade facilitation, and infrastructure financing across the continent.
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