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Equity Gets New Board as Shareholders Approve Kshs16bn Dividend

by Our Reporter
June 30, 2025
Equity Gets New Board as Shareholders Approve Kshs16bn Dividend
52
VIEWS

Nairobi – Equity Group Holdings Plc has concluded its 21st Annual General Meeting (AGM), with shareholders overwhelmingly supporting key resolutions that affirm the Group’s strategic direction and long-term vision.

Held virtually, the meeting drew participation from shareholders across the globe and featured several major decisions set to shape the Group’s trajectory.

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One of the most notable outcomes was the approval of a record Kshs. 16 billion dividend (approximately UGX 444.9 billion), translating to Kshs. 4.25 per share (approx. UGX 118), to be paid on or about 30th June 2025 to shareholders on record as of 23rd May 2025. The payout represents a 34% dividend payout ratio, in line with the Group’s dividend policy of distributing between 30% and 50% of earnings.

The AGM also marked a governance milestone, with shareholders endorsing a comprehensive suite of new governance policies. These include frameworks for directors’ remuneration, stakeholder engagement, transparency and disclosure, dispute resolution, and board appointment procedures—all aimed at bolstering accountability and aligning with global best practices.

New Board of Directors

In addition, the AGM confirmed the appointment of several new Directors to the Board.

Among them were: Mrs. Farida Khambata, an expert in emerging markets finance, Mr. Nick O’Donohoe, a leader in development finance, Dr. Aloysius Uche Ordu, a seasoned international development strategist, Mr. Obadiah Barara, an experienced public financial management specialist, Dr. Lakshmi Shyam-Sunder, a global authority on financial risk, Eng. David Mutombo, a sustainability-focused infrastructure executive.

Further, shareholders approved Mr. Obadiah Biraro, Dr. Aloysius Uche Ordu, Dr. Lakshmi Shyam-Sunder, and Dr. Evanson Baiya to serve on the Board Audit Committee.

Expanding its regional and international footprint, Equity Group also received shareholder approval to establish a Representative Office in the United Arab Emirates (UAE), pending regulatory approvals. The new office is expected to enhance connectivity between East and Central Africa and key markets across the Middle East, India, Central and South Asia, fostering trade and investment.

Prof. Isaac Macharia, Chairman of Equity Group Holdings Plc, underscored the Group’s resilience and forward-looking strategy:

“Despite a complex and evolving macroeconomic landscape in 2024, Equity Group remained resilient, agile, and purpose driven. We strengthened our governance structures across our six markets, aligned with emerging regulatory frameworks, and advanced key strategic initiatives including the successful integration of Cogebanque into Equity Bank Rwanda. Our commitment to the Africa Recovery and Resilience Plan is unwavering.”

He added: “The establishment of a Representative Office in the UAE marks a strategic step in deepening regional and global connectivity. With our shareholders’ continued trust, we are confident in our ability to drive meaningful transformation, sustainable development, and long-term value creation across the continent.”

Dr. James Mwangi, Equity Group Managing Director and CEO, echoed this optimism, emphasizing innovation and sustainability as drivers of future growth:

“Equity Group continues on a strong growth trajectory, driven by our commitment to innovation, regional expansion, and sustainable practices. The establishment of a Representative Office in the UAE marks an exciting step in our journey to connect Africa with global markets. Furthermore, we recognize that sustainability is not just a corporate responsibility but a fundamental driver of long-term success.”

He added: “We are committed to integrating sustainable practices into every aspect of our business, ensuring that we create value for all our stakeholders while protecting our planet for future generations.”

With strategic clarity, expanded governance capacity, and a solid financial foundation, Equity Group is poised to continue its pan-African growth agenda and deepen its impact in the communities it serves throughout 2025 and beyond.

Tags: Board of DirectorsdividendsEquity GroupJames MwangiSoft PowerSoftPowerSoftPower NewsTop Uganda NewsUganda

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