Equity Group To Reward Kenyan Banker Mwangi With 4.2 Million Dividend Payout

James Mwangi to receive Ksh543.19 million 4.2 million in dividends from Equity Group, marking a 6.42 increase from last years payout.

Equity Groups total assets reached 13.96 billion, with an 11.63 increase in profit after tax to 377.53 million.

CEO Mwangi highlights Equitys diversified approach and regional expansion, driving long-term growth despite challenging market conditions.

Kenyan multimillionaire businessman and leading banking executive James Mwangi is set to receive Ksh543.19 million 4.2 million in dividends from Equity Group Holdings, a major financial services group in East and Central Africa.

This payout, scheduled for June 30, is part of the Ksh16 billion 124.64 million approved by the lenders board of directors. Mwangis dividend of Ksh543.15 million a significant increase from last years Ksh510.4 million.

The appreciation of the Kenyan shilling has played a key role in the dividend's growth. When converted to U.S. dollars, Mwangi's payout will reach 4.2 million, reflecting an 8.59 percent increase from the 3.87 million he received in 2023.

Mwangi has been a driving force behind Equity Groups rise as the largest financial services provider in East and Central Africa. His stake in the lender, worth over 45 million, represents a 3.39 percent share , valued at Ksh6.03 billion 46.69 million.

Equity Group's strong performance in 2024 further underscores its position as a regional leader. At the end of the 2024 fiscal year , the groups total assets reached Ksh1.8 trillion 13.96 billion, with retained earnings of Ksh232.83 billion 1.8 billion.