Equity Group

Last updated

Equity Group Holdings Limited
Company type Public Company
KN: EQTY
USE: EBL
IndustryBanking and Finance
PredecessorEquity Building Society
Founded1984
Headquarters
9th Floor, Equity Centre
Hospital Road, Upper Hill
Nairobi, Kenya
Number of locations
392 branch banks [1]  (2024)
Key people
Isaac Macharia
Chairman [2] [3]

James Mwangi
Group CEO

Samwel Kirubi
Group Executive Director [4]
ProductsLoans, mortgages, investments, debit cards, credit cards, Health, Insurance
RevenueIncrease2.svg KSh 40.9 Billion (Q3 2024) [5]
Total assets KSh1.70 Trillion (Approx US$13 billion) (Q1 2024) [6]
Number of employees
13,102 (2023) [7]
RatingLong Term-rating Scale: AA-(KE), Short-term rating Scale: A1(KE), Rating Outlook: Stable - July 2021 [8]
Website equitygroupholdings.com

Equity Group Holdings Limited (EGHL), formerly Equity Bank Group, is a financial services holding company based in the African Great Lakes region. EGHL's headquarters are in Nairobi, Kenya, with subsidiaries in Kenya, Uganda, Tanzania, South Sudan, Rwanda, Democratic Republic of the Congo and a representative office in Ethiopia. [9]

Contents

Overview

EGHL is the largest financial services conglomerate in East and Central Africa. As of March 2024, it had assets exceeding KSh1.70 trillion (US$13 billion). The group also has over 20 million customers [source] in seven African Great Lake countries, with KSh1.32 trillion (US$10 billion) in deposits. [10]

In March 2024, EGHL was named 2nd Strongest Bank Brand in the world. Equity climbed two places to 2nd position in the World’s Top 10 Strongest Banking Brands. This was its third consecutive appearance in the Brand Finance Banking 500 rankings with an impressive Brand Strength Inde (BSI) score of 92.5 out of 100 and an elite AAA+ brand strength rating, according to The Brand Finance. [11]

On 28 August 2024 and for the second year in a row, Equity Bank was recognized as Africa’s best bank for corporate responsibility at the 2024 Euromoney Awards for Excellence. Equity also won the Best Bank for Corporate Responsibility in Africa (Second consecutive year), Best Bank for Corporate Responsibility in Kenya (Second consecutive year), Best Bank for SMEs in Kenya (Second consecutive year) and Overall Best Bank in Kenya (Second consecutive year).

EGHL has exclusive rights to issue American Express credit cards across the African continent outside South Africa. [12] As of the Quarter 3 Financial results ending 2024 September, EGHL reported an asset base worth Ksh1.70 trillion ($13 billion). The total group of customers was 21 million, [13] with Ksh1.32 trillion ($10 billion) in deposits. [14]

In 2023, over 98% of EGHL transactions were done outside branches; with 85.9% via digital channel and 7.9% via agency. [15] Finserve acquired 501,000 and 588,000 new Equitel subscribers in 2023 and 2022 respectively. The total Equitel subscribers as at December 2023 was 2.21 million subscribers. [16]

In 2024, 85.9% of the Group's transactions by count were done via its digital platforms which represented over 57% of total value of transactions conducted by the group's customers.[ [17] As of August 2024, EGHL total assets were valued at KSh1.70 trillion (US$13 billion), with shareholders' funds valued at US$1,096,000,000 (KSh121,279,000,000).

Equity Groups 1st Insurance subsidiary was operationalised in March 2022 to undertake life insurance business. As of March 2023, and in just 1 year of operation, Equity Life Assurance (Kenya) [ELAK] has risen to the 4th position in the industry in Gross Written Premiums with 9% market share and number 2 position in Group Credit Business with an 18% market share, position 4 on profitability and position 7 in size in terms of total asset and provided the highest in Return on Equity as at 30 September 2024.  As of 30 September 2024, 13.2 million policies had been issued with 5.8 million unique customers consuming various insurance products, moreover, +80% of policies had been issued digitally.[SOURCE]. In 2023, Equity Life Assurance (Kenya) Ltd (ELAK) was recognized as the Best Insurance in sustainable CSR during the 2023 edition of Think Business Insurance Awards. Equity Life Assurance Kenya scooped 3 awards: Winner in the Best Insurance in Sustainable CSR, 1st Runners Up in Most Customer Centric Underwriter Life & 2nd Runners up in the Life Insurer of the Year. [18]

Equity Afia was launched in 2015 and is a subsidiary of Equity Group Holdings Limited, dedicated to providing high-quality healthcare services. Services encompass a wide range of medical care, including primary care, specialist consultations, laboratory tests, imaging, vaccinations, health screenings, and wellness programs.  Equity Afia is an initiative under the Equity Group Foundation that uses a franchising model to fund, train and monitor a network of medical entrepreneurs, who are qualified alumni of the Equity Leaders Program (ELP). The clinics are run independently by the medical professionals with Equity Group providing support to doctors who wish to set up/run these facilities.

As of September 2024, Equity Afia had 128 clinics in Kenya with 2.92 million cumulative patient visits. [19]

History

EGHL was founded in Kenya, the largest economy in the East African Community, as the Equity Building Society in October 1984. [20] It was originally a provider of mortgage financing for customers in the low income population. Also, due to its rural banking orientation, promotion of agribusiness is a significant and strategic intervention by the bank. By September 2015, Equity Bank had more than 9.2 million customers. [21] The Banker listed Equity Bank among the Top 1,000 Banks in the World with the highest return on assets in the African continent, generating a rate of 6.84 per cent on assets deployed. [22]

Prior to November 2014, Equity Bank was both a licensed bank and a holding company for its subsidiaries. On 31 October 2014, Equity Bank Group announced its intention to incorporate a new wholly owned subsidiary, Equity Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets and liabilities. The rationale for the re-organisation is that by converting Equity Bank into a non-trading holding company that owns both banking and non-banking subsidiary companies and provides strategic, brand, risk and talent management to its subsidiaries, the Group will be better placed to invest and to develop the existing and new businesses as part of its third phase of growth and transformation. [23] These resolutions were all adopted during an extraordinary shareholders general meeting held on 24 November 2014 leading to the formation of Equity Bank Kenya Limited. [24]

In September 2015, the group completed its acquisition of 79 percent of DR Congo based ProCredit Bank Congo SARL from Procredit Group. [25] This acquisition marked the group's entry into sub-Saharan Africa’s third most populous country. [20] [26]

In September 2019, Equity Bank Group began talks to acquire a controlling stake in Banque Commerciale du Congo (BCDC), the second-largest commercial bank in the Democratic Republic of the Congo.[24] In August 2020, Equity Group Holdings paid US$95 million (approx. KES:10.2 billion), for a 66.5 percent ownership in BCDC.

On 30 December 2020, Equity Group Holdings received regulatory approval from the DRC government to merge Equity Bank Congo (EBC) and the Banque Commerciale du Congo (BCDC) into Equity BCDC. [27] In November 2023, data from EGHL reported that in nine months ending September, Equity BCDC made a Ksh11.4 billion ($74 million) profit before taxation making it the most profitable subsidiary of the group. [28] This successful acquisition made EGHL surpass the KSh 1 Trillion balance sheet mark making it the first bank in East and Central Africa to achieve that. [29]

In October 2019, The Group rebranded to Equity thereby eliminating the entity names the various subsidiaries previously carried like Group, Bank, Insurance, or Investment Bank thereby unifying the various brands according to the group MD and CEO, James Mwangi. This happened as the Group commemorated its 35th anniversary. [30]

On 30th  December 2020, Equity Group Holdings received regulatory approval from the DRC government to merge Equity Bank Congo (EBC) and the Banque Commerciale du Congo (BCDC) into Equity BCDC. [27] In August 2021, data from EGHL reported that in six months ending June, Equity BCDC made a Ksh700 million ($6.37 million) profit before taxation making it the most profitable subsidiary of the group. [31] This successful acquisition made EGHL surpass the Kshs 1 Trillion balance sheet mark making it the first bank in East and Central Africa to achieve that.

In August 2021, EGHL became the second most capitalized corporate entity at the Nairobi stock Exchange after hitting Ksh 200 Billion market capitalization mark.

On June 14, 2023, EGH publicly disclosed its entry into a binding term sheet for the acquisition of 91.93% of COGEBANQUE's issued shares from the Government of Rwanda, Rwanda Social Security Board, Sanlam Vie Plc, and Ms. Judith Mugirasoni (the Sellers).

On 3 January 2024: Equity Group Holdings PLC (EGH) announced the merger of Cogebanque and Equity Bank Rwanda. The amalgamation, which followed the receipt of all corporate and regulatory approvals marked a significant milestone in the ongoing strategic growth initiatives of EGH.

Ownership

The stock of Equity Group Holdings Limited is traded on the Nairobi Securities Exchange, under the symbol: EQTY. On Thursday 18 June 2009, the Group's stock cross-listed on the Uganda Securities Exchange and started trading that day, under the symbol: EBL. As of March 2023, shareholding in the group's stock was as depicted in the table below; [32]

Equity Group Holdings Limited Stock Ownership
RankName of OwnerPercentage Ownership
1.Arise BV of Norway and Netherlands 12.76
2.Standard Chartered Nominees Non Resd A/C Ke117524.35
3Stanbic Nominees LTD A/C NR35301533.98
4 James Njuguna Mwangi 3.38
5.Equity Bank Employees' Share Ownership Plan3.08
6.Standard Chartered Kenya Nominees Ltd A/C KE0046672.89
7.Fortress Highlands Limited2.67
8.Aib Nominee A/C Solidus Holdings Ltd2.38
9.Standard Chartered Kenya Nominees Ltd A/C KE0050732.34
10.Standard Chartered Kenya Nominees Ltd A/C KE0025961.95
11.Other Shareholders60.15
Total100.00

Board of directors

The following are the board members of Equity Group Holdings Limited, as of September 2024. [33]

  1. Prof. Isaac Macharia, Chairman
  2. James Mwangi, CBS, Group Managing Director & CEO
  3. Samwel Kirubi - Executive Director
  4. Dr. Edward Odundo - Non-executive Director
  5. Dr. Evans Baiya - Non-executive Director
  6. Vijay Gidoomal - Non-executive Director
  7. Dr. Helen Gichohi - Non-executive Director
  8. Jonas Mushosho - Non-executive Director
  9. Lydia Ndirangu - Group company Secretary
  10. Samwel Mwale – Non-executive director
  11. Clifford Sacks – Non-executive director

Member companies

The companies that compose the Equity Group Holdings Limited include but are not limited to the following:

  1. Equity Bank Kenya Limited – Nairobi, Kenya Flag of Kenya.svg – 100% Shareholding – A commercial bank in Kenya, serving individuals and businesses.
  2. Equity Bank Rwanda Limited – Kigali, Rwanda Flag of Rwanda.svg [34] [35] – 100% Shareholding – A commercial bank in Rwanda, serving both individuals and businesses.
  3. Equity Bank South Sudan Limited – Juba, South Sudan Flag of South Sudan.svg – 100% Shareholding – A commercial bank in South Sudan. [36]
  4. Equity Bank Tanzania Limited – Dar es Salaam, Tanzania Flag of Tanzania.svg [37] – 100% Shareholding – A commercial bank in Tanzania.
  5. Equity Bank Uganda Limited – Kampala, Uganda Flag of Uganda.svg – 100% Shareholding – A commercial bank in Uganda.
  6. Equity BCDC – Kinshasa, Democratic Republic of the Congo Flag of the Democratic Republic of the Congo.svg : 77.5 percent Shareholding – A commercial bank in DR Congo. [36] [38]
  7. Equity Consulting Group Limited – Nairobi, Kenya Flag of Kenya.svg
  8. Equity Insurance Agency Limited – Nairobi, Kenya Flag of Kenya.svg – 100% Shareholding – The insurance agency arm of the group. Offering bancassurance services to customers
  9. Equity Nominees Limited – Nairobi, Kenya Flag of Kenya.svg – 100% Shareholding – A Nominee company. [39] Holding investments on behalf of customers. [40]
  10. Equity Investment Bank Limited – Nairobi, Kenya Flag of Kenya.svg [41] – 100% Shareholding – An investment bank in Kenya. A member of the Nairobi Securities Exchange and licensed by the Capital Markets Authority.
  11. Finserve Africa Limited – Nairobi, Kenya Flag of Kenya.svg – 100% Shareholding – A mobile virtual network operator (MVNO) in the Kenya.
  12. Equity Group Foundation – Nairobi, Kenya Flag of Kenya.svg – 100% Shareholding – The philanthropy and corporate social responsibility arm of the group.
  13. Azenia - Nairobi, Kenya—100% Shareholding – A technological affiliate for developing digital solutions to the group.

See also

Related Research Articles

<span class="mw-page-title-main">KCB Bank Kenya Limited</span> Commercial bank in Kenya

KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator. The bank has also been running Agency banking model.

Spire Bank, formerly known as Equatorial Commercial Bank(ECB), is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

<span class="mw-page-title-main">Equity Bank Uganda Limited</span> Bank in Uganda

Equity Bank Uganda Limited (EBUL), is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator. EBUL is a subsidiary of Equity Group Holdings Limited, a financial service conglomerate with headquarters in Kenya and subsidiaries in six countries of the African Great Lakes Region.

KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, KCB TMB Congo and KCB Bank Uganda Limited.

Compagnie Générale de Banque (Cogebanque), sometimes referred to as Cogebank, is a Rwandan commercial bank. It is one of the commercial banks in the Republic of Rwanda, licensed by National Bank of Rwanda, the national banking regulator.

<span class="mw-page-title-main">I&M Holdings Limited</span> Kenyan financial services conglomerate

I&M Holdings Limited, also I&M Bank Group, is a conglomerate comprising banks, an insurance company and investment advisory businesses. The group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Mauritius, Rwanda, Tanzania and Uganda. The flagship company of the group is I&M Bank Limited, with headquarters in the I&M Bank Tower on Kenyatta Avenue in the central business district of Nairobi, Kenya's capital and largest city.

NCBA Bank Kenya, whose full name is NCBA Bank Kenya Plc, is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the country's central bank and national banking regulator.

Commercial Bank of Africa Group is a financial services provider in East Africa. Its headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, Tanzania, Uganda and Ivory Coast.

<span class="mw-page-title-main">Equity Bank Kenya Limited</span> Financial services provider

Equity Bank Kenya Limited is a Kenyan bank and financial services provider headquartered in Nairobi providing retail banking and commercial banking services. The bank is licensed as a commercial bank by the Central Bank of Kenya, which is the national banking regulator of Kenya.

Centum Investment Company Plc, commonly known as Centum is a public East African investment company. It operates as an affiliate of the Kenyan government-owned Industrial and Commercial Development Corporation (ICDC).

<span class="mw-page-title-main">Equity Bank South Sudan Limited</span> Bank in South Sudan

Equity Bank South Sudan Limited (EBSSL) is a commercial bank in South Sudan. The bank provides banking services to individuals and to small and medium business enterprises. It is one of the commercial banks licensed to operate in the country by the Bank of South Sudan, the central bank and national banking regulator.

<span class="mw-page-title-main">Equity Bank Rwanda Limited</span> Bank in Rwanda

Equity Bank Rwanda Limited (EBRL), is a commercial bank in Rwanda. The bank is licensed by the National Bank of Rwanda, the central bank and national banking regulator.

<span class="mw-page-title-main">James Mwangi</span> Kenyan banker

James Mwangi CBS is a Kenyan accountant, career banker, businessman, and entrepreneur. He is the current Group Managing Director and Group Chief Executive Officer of Equity Group Holdings Plc, the banking conglomerate with one of the largest customer bases on the African continent, over 14 million as of December 2019.

<span class="mw-page-title-main">Equity Bank Tanzania Limited</span>

Equity Bank Tanzania Limited, is a commercial bank in Tanzania, the second-largest economy in the East African Community. It is licensed by the Bank of Tanzania, the country's central bank and national banking regulator. The bank is a member of the Equity Group Holdings Limited, a large financial services conglomerate, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda, South Sudan, Tanzania, Uganda, Democratic Republic of the Congo and a representative office in Ethiopia.

Britam Holding PLC is a leading diversified financial services group and is listed on the Nairobi Securities Exchange. The group has presence in seven Africa countries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi.

Stanbic Holdings Plc, formerly known as CfC Stanbic Holdings Limited, is a Kenyan financial services organization with headquarters in Nairobi, Kenya, with subsidiaries in Kenya and South Sudan. Stanbic Holdings is a member of the Standard Bank Group, a financial services giant based in South Africa. The institution is licensed and governed by the Central Bank of Kenya, the national banking regulator.

<span class="mw-page-title-main">Equitel</span> Kenyan mobile network operator

Finserve Africa Limited is a mobile virtual network operator (MVNO) in Kenya. It is a wholly owned subsidiary of Equity Group Holdings and is using the Airtel Kenya network as its carrier.

Jubilee Holdings Limited is a financial services holding company, with its headquarters in Nairobi, Kenya. The company maintains subsidiaries in Kenya, Uganda, Tanzania, Burundi, and Mauritius. Its activities are mainly in the insurance sector.

<span class="mw-page-title-main">Equity Banque Commerciale du Congo</span> Bank in the Democratic Republic of the Congo

Equity Banque Commerciale du Congo (EquityBCDC) is a commercial bank in the Democratic Republic of the Congo. It is a merger between Equity Bank Congo (EBC), formerly ProCredit Bank DRCongo, and Banque Commerciale du Congo. This followed the acquisition of majority shareholding in both banks by the Equity Group Holdings Limited, a Kenya-based financial services conglomerate with total assets in excess of US$10 billion.

Bank of Africa Kenya Limited, is a commercial bank in Kenya. It is one of the commercial banks licensed by Central Bank of Kenya, the country's central bank and the national banking regulator.

References

  1. ↑ "Investor Briefing H1 2021 Performance" (PDF). Retrieved 30 August 2021.
  2. ↑ "David Ansell retires as Equity Group Board Chair as Professor Isaac Macharia takes over the baton". David Ansell retires as Equity Group Board Chair as Professor Isaac Macharia takes over the baton. Business daily Africa. Retrieved 28 August 2021.
  3. ↑ Gachane, Ndung'u (1 August 2018). "Retiring Equity Bank chairman takes his successor to where it all began". Business Daily Africa . Nairobi. Retrieved 1 August 2018.
  4. ↑ "Samwel Kirubi - Group Executive Director". Equity Group Holdings. Retrieved 27 January 2025.
  5. ↑ "Equity Group Holdings PLC Q3 2024 Investor Booklet" (PDF). Retrieved 27 January 2025.
  6. ↑ "Investor Briefing: Q3 2024 Performance" (PDF). Retrieved 27 January 2025.
  7. ↑ "source" (PDF). Retrieved 17 May 2024.
  8. ↑ "GCR affirms the AA-(KE)/A1+(KE) Ratings of Equity Group Holdings Plc, Ratings Placed on Stable Outlook to reflect easing operating environment pressure and performance resilience – GCR" . Retrieved 18 September 2021.
  9. ↑ Wahito, Margaret (26 May 2015). "Equity Group enters DRC market". Nairobi: 98.4 Capital FM . Retrieved 24 March 2018.
  10. ↑ "INVESTOR BRIEFIN Q3 2024 PERFORMANCE" (PDF).
  11. ↑ "EQUITY GROUP RANKED THE WORLD'S 2ND STRONGEST BANKING BRAND".
  12. ↑ "INVESTOR BRIEFINGQ3 2024 PERFORMANCE" (PDF).
  13. ↑ "INVESTOR BRIEFING Q3 2024 PERFORMANCE" (PDF).
  14. ↑ "INVESTOR BRIEFING Q3 2024 PERFORMANCE" (PDF).
  15. ↑ "INVESTOR BRIEFING Q3 2024 PERFORMANCE" (PDF).
  16. ↑ "EQUITY GROUP HOLDINGS PLC ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023" (PDF).
  17. ↑ "INVESTOR BRIEFING Q3 2024 PERFORMANCE" (PDF).
  18. ↑ "INVESTOR BRIEFING Q3 2024 PERFORMANCE" (PDF).
  19. ↑ "INVESTOR BRIEFING Q3 2024 PERFORMANCE" (PDF).
  20. 1 2 "Equity Group Holdings Limited: Our History". Nairobi: Equity Group Holdings Limited. 22 October 2016. Retrieved 22 October 2016.
  21. ↑ Mark Okuttah (6 March 2015). "CBA now biggest retail bank with 10 million customers 2016". Business Daily Africa . Nairobi. Retrieved 22 October 2016.
  22. ↑ "Super Profits Earn Equity, KCB Top Global Rankings". Business Daily Africa . Nairobi. 22 July 2014. Retrieved 23 November 2014.
  23. ↑ "Circular To Shareholders for The Transfer of The Kenyan Banking Business To A Newly Created, Wholly Owned Subsidiary". Equity Bank Group. 31 October 2014. Archived from the original on 12 November 2014. Retrieved 23 November 2014.
  24. ↑ "Results of the Extra-ordinary General Meeting of Equity Bank Limited held on 24th November, 2014". Nairobi: Equity Bank Group. 24 November 2014. Retrieved 26 November 2014.[ permanent dead link ]
  25. ↑ Brian Ngugi (17 September 2015). "Equity Bank Completes Acquisition of DRC's ProCredit Bank". Business Daily Africa . Nairobi. Retrieved 17 September 2015.
  26. ↑ Obulutsa, George (26 May 2015). "Kenya's Equity Bank To Expand To Congo via Acquisition - CEO". Thomson Reuters . Retrieved 26 May 2015.
  27. 1 2 "Equity Group", Wikipedia, 27 January 2025, retrieved 27 January 2025
  28. ↑ "DRC is a cocktail of challenges and opportunities for Equity Bank".
  29. ↑ "Equity Group", Wikipedia, 27 January 2025, retrieved 27 January 2025
  30. ↑ "Equity Group", Wikipedia, 27 January 2025, retrieved 27 January 2025
  31. ↑ "Equity Group", Wikipedia, 27 January 2025, retrieved 27 January 2025
  32. ↑ "Equity Group", Wikipedia, 27 January 2025, retrieved 27 January 2025
  33. ↑ "INVESTOR BRIEFING Q3 2024 PERFOMANCE" (PDF).
  34. ↑ Namata, Berna (4 April 2011). "Equity Gets Kigali's Nod To Set Up Shop In Rwanda". The EastAfrican (Nairobi). Archived from the original on 15 August 2016. Retrieved 23 November 2014.
  35. ↑ "Rwanda: Equity Bank Enters Rwanda". East African Business Week (Kampala). 7 November 2011. Retrieved 23 November 2014.
  36. 1 2 Juma, Victor (20 April 2017). "Equity Group now raises stake in its Congo unit to 86 percent". Business Daily Africa . Nairobi. Retrieved 24 March 2018.
  37. ↑ Kimani, Mwaura (31 January 2011). "Equity Bank Eyes 20 Percent Profits Outside Kenya". The EastAfrican (Nairobi). Retrieved 28 November 2014.
  38. ↑ Adonijah Ochieng (9 September 2019). "Equity To Expand In DRC With Acquisition of Second-Largest Bank". Business Daily Africa . Nairobi. Retrieved 8 October 2019.
  39. ↑ "Nominee Director and Nominee Companies". www.offshore-islands.com. Retrieved 13 May 2015.[ permanent dead link ]
  40. ↑ Ngugi, Brian (7 July 2017). "Dutch banking giant gets Equity shares". Business Daily Africa . Nairobi. Retrieved 7 July 2017.
  41. ↑ Kangethe, Kennedy (19 August 2013). "Kenya: CBA Capital, Equity Investment Bank Join NSE". 98.4 Capital FM (Nairobi) via AllAfrica.com . Retrieved 28 November 2014.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.