Equity shareholders approve Sh21.7 billion dividend, greenlight insurance expansion

Equity Group shareholders have approved a Sh21.7 billion dividend payout and given the green light for the lender's expansion into the insurance business in Kenya and the Democratic Republic of Congo (DRC).

The resolutions were passed during the group's 22nd Annual General Meeting (AGM), signalling strong investor backing for Equity's regional growth ambitions and long-term strategy.

The electronic AGM also approved board appointments and other governance resolutions as the financial services giant positions itself to deepen its footprint across Africa.

Shareholders approved a first and final dividend of Sh21.7 billion, translating to Sh5.75 per share for the financial year ended December 31, 2025.

The payout represents a 35.5 per cent increase from the Sh16.04 billion, or Sh4.25 per share, distributed for the 2024 financial year.

The dividend is expected to be paid on or about June 30, 2026, to shareholders who were on the company's register at the close of business on May 22, 2026.

Investors also approved plans to establish three new insurance subsidiaries through Equity Group Insurance Holdings Limited, subject to regulatory approvals.

The expansion includes a microinsurance company in Kenya with a capital base of Sh192 million.

The group will also establish two insurance businesses in the DRC: a life insurance company with a capital of $12 million and a general insurance company with a capital of $13.37 million.

The board was authorised to take all necessary steps to operationalise the businesses.

Equity Group chairman Prof Isaac Macharia said the approvals underscore shareholder confidence in the lender's governance framework and long-term vision.

“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,” he said.

The AGM also adopted the audited financial statements for the year ended December 31, 2025, alongside the chairman's, directors' and auditors' reports.

Equity Group Managing Director and Chief Executive Officer James Mwangi said the insurance expansion will strengthen the institution's ability to provide integrated financial services across the region.

“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,” he said.

On governance, shareholders approved all board resolutions presented at the meeting.

This included the re-election of Prof Isaac Macharia, Jonas Mushosho, Evanson Baiya and Farida Khambata as directors.

Shareholders also approved the appointment of Eliane Ubalijoro as a director, subject to regulatory approvals.

The AGM further approved the appointment of Ernst & Young as the company's external auditors until the conclusion of the next annual meeting.

Looking ahead, Equity Group said it will continue focusing on financial inclusion, stronger governance and supporting households and businesses through accessible and customer-centred financial solutions.

The pan-African lender currently operates banking subsidiaries in Kenya, DRC, Rwanda, Uganda, Tanzania and South Sudan, alongside a commercial representative office in Ethiopia.

The group also has interests in investment banking, insurance, telecommunications, fintech and social impact investments through Equity Group Foundation.

Equity Group has an asset base of $15.7 billion and serves 22.7 million customers across the region through an extensive physical and digital network.

The lender was recently named Africa's Strongest Banking Brand in 2026 by Brand Finance and was also recognised as a Superbrand in East Africa for the 2024-2026 period.