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    EQTY   KE0000000554

EQUITY GROUP HOLDINGS PLC

(EQTY)
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Equity : Appoints Jonas Mushosho as Non-Executive Director

09/03/2021 | 07:06am EDT

Equity Group Holdings Plc has announced the appointment of Jonas Mushosho as a Non-Executive Director to its board following the retirement of Christopher Newson, Non- Executive Director in the Board.

Jonas brings on board a wealth of leadership experience, having previously served in senior leadership positions in both the private and public sectors. He has led multi-national portfolios in different lines of business, particularly in financial services.

He served as the Chief Executive Officer at Old Mutual Zimbabwe Limited between 2012 and 2019. He also doubled up as the Managing Director for Old Mutual Rest of Africa, where he was responsible for strategy implementation, stakeholder management, investment performance management, governance and compliance and functional effectiveness of the Old Mutual Business in 12 countries in the continent.

He is currently a Director at Brooks & Oracle, a council member at Zimbabwe Open University and serves as a non-executive director at Delta Corporation.

Speaking while welcoming him to the board, Equity Group Chairman Prof. Isaac Macharia said, "We are delighted to bring on board Jonas as a new Non-Executive Director to the Group board. He brings a wealth of broad executive leadership experience in leading strategy implementation in a multi-national environment, which will be key as we seek to strengthen our regional subsidiaries. At the same time, we are biding Chistopher Newson farewell. Although he has served the board for a year, he has used his immense experience as a seasoned banker across the region to provide strategic oversight."

Commenting on his appointment, Jonas said, "I am thrilled to be joining the board at a time when the company has reached the Kes 1.12 trillion total assets base and is focused on strengthening its regional business. By working together with the highly skilled management and staff at Equity, we will be able to further grow our business and continue to provide inclusive financial services in the countries we serve in furtherance of the Group's vision of championing the socio-economic prosperity of the people of Africa."

Jonas holds a Bachelor of Accounting Science from University of South Africa, Bachelors Degree in Accounting and an MBA from the University of Zimbabwe. He also has postgraduate qualifications from the University of Cape town, Graduate School of Business, London Business School and Harvard Business School among others. He is a Chartered Accountant and a Fellow of the Institute of Chartered Secretaries and Administrators.

Equity has experienced tremendous growth as a regional brand that has seen the bank bag several international awards including being named the Best Bank for SMEs in the 2021 Euromoney Awards, Best Regional Bank in Eastern Africa in the 2021 African Banker Awards, and was named among the top 1,000 global banks by The Banker Magazine.

Copyright Capital FM. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2021 109 B 982 M 982 M
Net income 2021 33 179 M 299 M 299 M
Net Debt 2021 - - -
P/E ratio 2021 5,74x
Yield 2021 6,13%
Capitalization 188 B 1 694 M 1 697 M
Capi. / Sales 2021 1,73x
Capi. / Sales 2022 1,44x
Nbr of Employees 7 119
Free-Float 77,4%
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Number of Analysts 10
Last Close Price 49,90 KES
Average target price 52,44 KES
Spread / Average Target 5,08%
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Managers and Directors
James Njuguna Mwangi Group CEO & Non-Independent Executive Director
David Ngata Group Director-Finance
Isaac Muthure Macharia Non-Executive Chairman
Lanre Bamisebi Group Chief Information Officer
Evelyn Kamagaju Rutagwenda Independent Non-Executive Director