Kenya's Equity Bank looks for growth.

Position:FOCUS ON EAST AFRICA - Brief article

One of Kenya's fastest growing financial services groups, Equity Bank, is awaiting approval from its shareholders, the Central Bank of Kenya, the Capital Market Authority and the Nairobi Stock Exchange to proceed with the sale of 90m new ordinary shares to pan-African investment vehicle Helios. The sale, which already has the approval of the bank's board, will raise Ksh11bn ($164m).

Although Helios will become the largest single shareholder with almost 25% of the bank's issued capital, it intends to remain a silent partner.

The deal will catapult Equity Bank to first position as Kenya's largest bank in terms of its capital base and the...

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