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Kenya’s Biggest Bank Targets Seven-Fold Customer Growth by 2025

  • Equity Group wants to be Congo’s market leader by year-end
  • Lender sees faster growth in Ethiopia once market opens up
James Mwangi
James MwangiPhotographer: Riccardo Gangale/Bloomberg

Kenya’s biggest bank by market value plans to grow its customer base to 100 million by targeting small businesses and mining sectors in the Democratic Republic of Congo and Ethiopia.

Equity Group Holdings Plc, which has operations in seven African markets, plans to exploit lending opportunities outside its home base where risk-based pricing of loans remains out of reach two years after the government repealed a law on interest-rate caps that ate into margins.