Equity in talks to buy another DRC lender

Equity Group Holdings (EGH) has entered negotiations with shareholders of the second largest bank in the Democratic Republic of Congo as it expands its footprint in the mineral-rich region.
“Further, through the proposed transaction, EGH aims to provide access to competitive, tailored financial services to improve people’s lives and livelihoods whilst also delivering significant value to its stakeholders.” The transaction is subject to regulatory approvals even as the value of the deal remains guarded.
The deal is expected to see Equity Group spread its footprints in a region that is relatively underdeveloped owing to wide-scale conflict fuelled by the DRC’s abundant resources.
“Until further announcements regarding the proposed transaction are made, the shareholders of EGH and other investors are advised to exercise caution when dealing in EGH ordinary shares on the Nairobi and Uganda securities exchanges as well as the Rwanda Stock Exchange,” said the bank.
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