Sale of over 20% of Helios’ remaining Equity Bank stake completed
24th June 2015
Completion of purchase of 2.44% stake in Equity Group Holdings Limited (Equity Group) by National Social Security Fund of Uganda (NSSF Uganda) from Helios EB Investors II, LTD (Helios)
We are pleased to announce that NSSF Uganda has completed the purchase of a 2.44% stake in Equity Group Holdings Limited (“Equity Group”) from Helios at a price of Kenya Shillings fifty (50/=) per share.
Commenting on the transaction, Babatunde Soyoye, Managing Partner of Helios, said: “We are pleased to introduce NSSF Uganda who share Equity Group’s core values of partnership, promoting financial inclusion and strong corporate governance. We are proud to have played a role in the bank’s growth and success to date and look forward to continuing our support to Equity Group as it extends its mission of positively impacting the communities within which it operates.”
Richard Byarugaba, Managing Director of NSSF Uganda, reaffirmed NSSF Uganda’s interest in Equity Group saying: “The Fund is pleased to become a shareholder in Equity Group, a fast growing financial services institution within East Africa and beyond. The investment into Equity Group broadens NSSF Uganda’s investment portfolio in the wider East African region in keeping with the fund’s long term plans to diversity our investments into market-leading companies across various sectors within the region.”
Helios’ transaction advisors were Anjarwalla & Khanna Advocates supported by MMAKS Advocates in Uganda. NSSF Uganda was advised by African Alliance Uganda.
About Equity Group
Equity Group is the leading inclusive banking group in East Africa with over 9 million customer accounts and nearly $4 billion in assets. Listed on the Nairobi Securities Exchange and the Uganda Securities Exchange, the bank has subsidiaries across the East African region and is engaged in the provision of banking, insurance agency, investment banking, securities brokerage and information and telecommunications technology outsourcing services.
Equity Group has consistently delivered exceptional performance, with profit after tax growing in excess of 30% annually between 2007 and 2014. Over this period, the bank has expanded its business and customer segments, and extended its operations regionally into Uganda, Tanzania, Rwanda and South Sudan. Equity Group has recently embarked on a new phase of development, a corporate growth strategy entitled ‘’Equity 3.0’’, and is well positioned to maintain its impressive performance trajectory by further leveraging technology and leading in innovation. Equity Group is also in the process of extending its presence to the Democratic Republic of Congo (DRC) through the acquisition of a majority stake in Pro Credit Bank DRC.
Further details on Equity Group Holdings Ltd can be found at: www.equitybankgroup.com