James Mwangi Gains 5.8 Million As Equity Group Shares Soar

James Mwangis Equity Group stake gained 5.78 million in 37 days, reversing earlier losses from a market dip.

Equity shares jumped 13.75, lifting the lenders market value above 1.4 billion and boosting Mwangis net worth.

Equity Group reported a 377.3 million profit in 2024, backed by regional expansion and strong shareholder payouts.

James Mwangi, Kenyas richest banker and long-serving CEO of Equity Group, has seen the value of his stake in the company recover sharply following a rally on the Nairobi Securities Exchange NSE .

Mwangi holds a 3.39-percent stake in Equity Group, equal to 127.8 million shares. Over the past 37 days, the value of his holdings has risen by Ksh747.68 million 5.78 million, signaling renewed investor confidence in one of the regions largest financial institutions.

This rebound follows a difficult start to the year. Between Jan. 22 and Feb. 22 , the value of Mwangis shares dropped by about 3 million, from Ksh8.89 billion 68.5 million to Ksh8.5 billion 65.53 million, as the market experienced a broader dip.

Equity Group , one of East and Central Africas biggest lenders, has continued to expand its footprint in countries like Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of the Congo. Under Mwangis leadership, the bank has grown into a major player across the region.

For the year ending Dec. 31, 2024, Equity reported a 12 percent rise in net profit to Ksh48.82 billion 377.3 million , driven by higher revenues and tight cost controls. It also rewarded shareholders with a dividend of Ksh4.25 0.0329 per share, translating into a total payout of Ksh16 billion 124.64 million.