Equity, Atlas Mara acquisition talks abandoned over Covid-19 Pandemic
Equity Group CEO James Mwangi. Equity says it has mutually agreed with Atlas Mara to discontinue discussions on the proposed acquisition over economic uncertainties triggered by the Covid-19 Pandemic. PHOTO | FILE | NMG
Equity Group Holdings’ (EGH) ambitious plans to acquire four banks in Rwanda, Zambia, Tanzania and Mozambique owned by Atlas Mara (ATMA) have flopped over economic uncertainties triggered by the Covid-19 Pandemic.
This has further delayed the lender’s plans of transforming into a Ksh1 trillion ($10 billion) banking giant in the region.
