Equity Group Holdings (NSE:EQTY, USE:EQTY, RSE:EQTY) shareholders have approved a KES21.7bn ($167.59mn) dividend for the year ended December 31, 2025, a 35.5% increase from the previous year, while also backing plans to expand the lender's insurance business into Kenya and the Democratic Republic of Congo (DRC).
The resolutions were passed at the Pan-African financial services group's virtual annual general meeting on June 24, with shareholders approving a final dividend of KES5.75 ($0.04) per share, payable on or about June 30.
Shareholders also authorised the establishment of three insurance subsidiaries under Equity Group Insurance Holdings, subject to regulatory approval. The plan includes a microinsurance business in Kenya and separate life and general insurance companies in the DRC.
Equity Group operates banking subsidiaries in seven African countries as well as businesses in insurance, fintech, telecommunications and investment banking.
Chairman Isaac Macharia said: 'The approvals received today reflect our shareholders’ confidence in Equity’s strategy and oversight. We remain committed to strong governance, prudent stewardship, and delivering sustainable value; by building an institution that expands opportunities for our customers and strengthens resilience across our markets.'
Group Managing Director and CEO James Mwangi said: 'Equity continues to pursue growth anchored on innovation, regional presence, and solutions that protect and advance livelihoods.'
'The approvals to expand our insurance footprint strengthen our ability to offer more holistic financial services that help customers and communities manage risk, build resilience, and plan confidently for the future.'
The move targets one of East Africa's fastest-growing but least-penetrated financial sectors. Insurance penetration averages only 1.57% of GDP across a region of more than 500mn people, giving banks a large untapped market for insurance products, according to Deloitte's East Africa Insurance Outlook Report 2025.
Shareholders also approved the re-election of Isaac Macharia, Jonas Mushosho, Evanson Baiya and Farida Khambata as directors, and backed the appointment of Eliane Ubalijoro to the board, subject to regulatory clearance. Ernst & Young was reappointed as external auditor until the next annual general meeting.
Equity Group serves 22.7mn customers across Kenya, the DRC, Rwanda, Uganda, Tanzania and South Sudan, with a representative office in Ethiopia. The group had total assets of $15.7bn and a market capitalisation of about $2bn at the end of 2025.
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