Nairobi, Kenya | THE INDEPENDENT | Equity Neighborhood Holdings Plc continued a prolonged custom of specializing in growth, innovation, and strengthening governance constructions as they held their 21st Annual Total Assembly (AGM) in Nairobi final week.
At the head of the landmark AGM on June twenty fifth, shareholders had popular a file dividend of Kshs. 16 billion (approx. UGX 444.9 billion) at an enhanced price of Kshs. 4.25 (approx. UGX 118) per portion. Building on a momentum that has viewed Equity Neighborhood strengthen governance constructions across its six markets, shareholders on the AGM participated within the profitable election of a complete lot of contemporary directors and thereafter also gave a green gentle for setting up a representative content of job within the United Arab Emirates.
Overall, shareholders demonstrated sturdy self assurance within the neighborhood’s strategic route and governance by vote casting in desire of the total proposed resolutions on the 21st AGM. The meeting, performed in terms of and attended by shareholders worldwide, seen notable approvals that can shape the map forward for the group.
At the AGM, Prof. Isaac Macharia, Chairman of Equity Neighborhood Holdings Plc, emphasized the community’s resilience and strategic focal level amidst a difficult worldwide atmosphere.
“Despite a complicated and evolving macroeconomic landscape in 2024, Equity Neighborhood remained resilient, agile, and motive-pushed. We reinforced our governance constructions across our six markets, aligned with rising regulatory frameworks, and stepped forward key strategic initiatives, including the profitable integration of Cogebanque into Equity Monetary institution Rwanda,” Prof. Macharia acknowledged.
Macharia acknowledged Equity’s commitment to the Africa Restoration and Resilience Belief is unwavering, and with the launch of a effectively being insurance subsidiary and plans for a banking keeping company underway, the community is constructing a basis for sustainable, specialised enhance.
“By sturdy chance oversight, enhanced board capacity, and deep neighborhood impression, ranging from MSME financing and education help to healthcare and luminous energy obtain entry to, we proceed to order on our promise of inclusive prosperity. The establishment of a representative content of job within the UAE marks a strategic step in deepening regional and worldwide connectivity. With our shareholders’ continued belief, we’re confident in our capacity to pressure notable transformation, sustainable pattern, and prolonged-time duration price advent across the continent,” he said.
Dividend
Shareholders popular a dividend of Kshs. 16 billion (approx. UGX 444.9 billion) at an enhanced price of Kshs. 4.25 (approx. UGX 118) per portion, payable on or about thirtieth June 2025, to shareholders on the register as of the shut of replace on twenty third Would perhaps perchance merely 2025. The community remained committed to its dividend protection, which provides for a dividend payout ratio of between 30% and 50%. This 365 days the dividend payout used to be 34%.
Directors
As fragment of ongoing efforts to reinforce governance constructions and align with the categorical worldwide practices and regulatory requirements, the Neighborhood launched and secured shareholder acclaim for a complete lot of key governance policies. These embody policies on directors’ remuneration, stakeholder engagement, transparency and disclosure, dispute decision, and board appointment procedures.
The AGM also seen the profitable election of a complete lot of contemporary directors. Farida Khambata, a world expert in rising markets finance with over 30 years of abilities in funding and chance management, used to be elected.
Newly elected to the Board, area to regulatory approvals were Nick O’Donohoe, a seasoned pattern finance chief with an over 30-365 days track file in financial companies and products and impression investing; Dr. Aloysius Uche Ordu, an worldwide pattern strategist with over three a protracted time of abilities in protection and financial innovation; Obadiah Barara, a passe public financial management expert with 37 years of abilities in public audit and governance across East Africa; Dr. Lakshmi Shyam-Sunder, a eminent financial chance expert with 30 years’ abilities in multilateral institutions including the World Monetary institution Neighborhood; and lastly Eng. David Mutombo, a world infrastructure and utility govt with over Two decades of abilities in sustainable energy and water management. As well, shareholders popular the appointment of Obadiah Biraro, Dr. Aloysius Uche Ordu, Dr. Lakshmi Shyam-Sunder, and Dr. Evanson Baiya to learn as members of the Board Audit Committee.
Handbook content of job in UAE
In a landmark decision, Equity Neighborhood received shareholder approval to construct a representative content of job within the United Arab Emirates (UAE), marking a main step in its strategic growth beyond Africa.
Self-discipline to regulatory approvals from the Central Monetary institution of Kenya and UAE authorities, this circulate is poised to liberate a wealth of replace, replace, and funding opportunities, connecting East and Central Africa with the UAE, Middle East, India, Central Asia, and South Asia.
This milestone also builds on Equity Monetary institution Uganda’s proactive efforts to acquire interaction its diaspora, a walk that started gaining traction in most up-to-date years through previous initiatives where Equity Monetary institution Uganda’s provider and management teams visited Dubai and Saudi Arabia, offering specialised financial and banking companies and products to tackle their odd needs—ranging from remittances to funding opportunities, efforts that resonated deeply with the diaspora neighborhood.
The contemporary UAE Handbook Place of work, expected to be operational in early 2026, will replace this story. This could occasionally provide on-content help for letters of credit and provide-chain finance, reducing settlement delays, whereas bettering remittance and mobile-money companies and products for the tens of millions of East Africans within the plight. This aligns with Equity’s promise to change into Africa’s “one-conclude financial companies and products platform,” as articulated by Dr. James Mwangi, Neighborhood Managing Director.
“The establishment of a Handbook Place of work within the UAE marks a thrilling step in our walk to glue Africa with worldwide markets, creating contemporary opportunities for replace and funding. Furthermore, we acknowledge that sustainability isn’t very any longer supreme an organization accountability but a normal driver of prolonged-time duration success. We are committed to integrating sustainable practices into every component of our replace, guaranteeing that we fabricate price for all our stakeholders whereas conserving our planet for future generations,” Dr. James Mwangi acknowledged.
