Equity Group Holdings Plc is set to open a new representative office in the United Arab Emirates (UAE) following regulatory approval.This expansion is part of the company’s strategic plan to expand beyond East and Central Africa.
The new office aims to enhance cross-border financial services, promote trade and investment between Africa and the Middle East, and serve the growing African diaspora in the Gulf region.
“The establishment of a representative office in the UAE marks a significant step in deepening regional and global connectivity,” said Prof. Isaac Macharia, Chairman of Equity Group Holdings Plc. “This move aligns with our mission to champion the socio-economic transformation of Africa and create long-term value for our stakeholders.”
Once operational, the office will serve as a bridge for financial inclusion, facilitating remittances from the diaspora, supporting trade finance, and attracting foreign direct investment (FDI) into Africa. This initiative complements Equity Group’s growing regional presence, which includes operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, the Democratic Republic of Congo, and a presence in Ethiopia.
The announcement was made during the company’s Annual General Meeting (AGM) on Monday, where shareholders approved a KSh 16 billion dividend payout, scheduled to be disbursed on or around June 30, 2025. This payout reflects Equity’s robust financial performance and continued growth trajectory, even amid global economic uncertainty.
Targeting Dubai as a global financial hub, the expansion seeks to tap into one of the world’s most dynamic economic corridors, linking Africa to Asia, Europe, and the broader Middle East. The UAE is home to a large population of African professionals and entrepreneurs, as well as investors seeking opportunities across the continent.
In a further move towards strategic evolution, the Group also introduced new board members to enhance governance and bring a global perspective. Among the newly appointed directors are:
– Farida Khambata, a seasoned expert in emerging markets investment with decades of experience in global finance.
– Nick O’Donohoe, a prominent figure in development finance and impact investing, bringing extensive knowledge of inclusive growth and sustainable development.
Their appointments signal Equity’s ambition to align its operations with international best practices and leverage global networks of capital and expertise.
Equity Group Managing Director and CEO, Dr. James Mwangi, has consistently emphasized the Group’s commitment to becoming a gateway for investors interested in Africa, particularly under the Africa Continental Free Trade Area (AfCFTA) framework. The UAE office is expected to play a crucial role in facilitating trade flows, capital inflows, and development financing for projects in sectors such as infrastructure, energy, agriculture, and technology.
This expansion also supports the Group’s broader goal of integrating African economies by providing financial services that ease the movement of capital, empower small and medium-sized enterprises (SMEs), and foster inclusive growth.
“With our expanding footprint and strong partnerships, Equity is well-positioned to bridge financial gaps and create socio-economic opportunities across borders,” added Prof. Macharia.
