Equity Group Holdings pretax profit grew 12 per cent to Ksh12.1 billion (Rwf88 billion) in the first half of the year, up from Ksh10.8 billion (Rwf78 billion) recorded over the similar period last year, the firm’s financial results indicate. 

Ben Gasore reports that the group’s net profit also rose by 12 per cent to Ksh8.6 billion (Rwf62 billion), from Ksh7.7 billion (Rwf56 billion) last year.

James Mwangi, the Equity Group Holdings managing director, said while releasing the results in Nairobi, Kenya yesterday that the firm’s growth path remained anchored on its regional business interests and diversification of revenue sources.

He said the firm’s agency banking model in Kenya, Rwanda and Tanzania continues to grow significantly, which lowered operating costs.