Kenyan Banker James Mwangi Confirms Equity Group's First Uae Branch Coming By End Of 2025

Equity Group to open UAE branch by Q4 2025, expanding its footprint beyond East and Central Africa amid rising AfricaMiddle East trade.

CEO James Mwangi says regulatory approval is near, positioning Equity among African banks tapping Gulf capital and trade hubs.

Group assets hit 13.54 billion despite profit dip in Q1, with regional subsidiaries and digital platforms driving growth outside Kenya.

Equity Group, East and Central Africas leading financial services group, led by Kenyan banker James Mwangi, is setting its sights on the United Arab Emirates, with plans to open an office there in the fourth quarter of 2025. The move is aimed at tapping into the growing trade and investment flows between the Middle East and Africaa relationship that continues to deepen as global interest in the continents resources and markets grows.

Speaking in an interview with Bloomberg TV , Mwangi, the long-serving CEO of Kenyas largest bank by assets, said the lender is in the final phases of securing regulatory approval. Once granted, Equity will join a growing list of African banksincluding Absa Group, Standard Bank, and United Bank for Africathat are establishing a footprint in the Gulf region.

The Middle East has deep capital sources, very strong logistics for trade and it is a strong center for investment, Mwangi said. Linkage with the middle-income segment is growing in India and China. That will provide a very strong market wave for African goods and services.

This push into the UAE comes just weeks after Equity Group announced it had received the green light to set up a representative office there . The bank sees this as a step toward strengthening global connections and expanding into new markets beyond its East and Central African base.

Equity Group has steadily grown under Mwangis leadership, expanding into Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of Congo. Mwangi, who holds a 3.39 percent stake in the bankequivalent to 127.8 million shareshas been at the center of the banks evolution into a regional powerhouse.