Equity Group Holdings has completed the acquisition of Compagnie Générale de Banque (Cogebanque) Plc, making Cogebanque its subsidiary. Equity Group now holds 198,250 shares representing 99.1250% of the issued share capital of Cogebanque. The acquisition of Cogebanque positions Equity Group for further growth in Sub-Saharan Africa. Customers of both Cogebanque and Equity Bank Rwanda will benefit from an expanded branch network and improved digital banking services.
This acquisition is a significant milestone in Equity Group’s regional expansion strategy. Equity Group Holdings Plc Managing Director and CEO, Dr. James Mwangi, said, “We are delighted to welcome Cogebanque’s employees and customers to Equity Group. Through our focus on innovation, cutting-edge technology, and superior service, we aim to provide enhanced financial services, improve lives, expand opportunities for wealth creation, and deliver significant value to all our stakeholders in Rwanda. The eventual merger of Cogebanque and Equity Bank Rwanda will consolidate Equity Group’s position in Rwanda and support”.