Equity Group Holdings PLC has confirmed the completion of the merger between Cogebanque and Equity Bank Rwanda, effective December 31, 2023. The amalgamation, following the receipt of all necessary corporate and regulatory approvals, signifies a significant milestone in Equity’s strategic growth initiatives.
According to Rwandan law, the business and activities previously conducted by Cogebanque and Equity Bank Rwanda will now be consolidated under Equity Bank Rwanda. Equity Bank Rwanda has acquired all property, rights, privileges, and liabilities of Cogebanque, leading to the deregistration of Cogebanque as a subsidiary of Equity Group.
Post-merger, Equity Group holds a 99.816% shareholding in Equity Bank Rwanda, with the remaining shareholding distributed among three other shareholders. The strategic move aligns with Equity’s commitment to delivering improved access to competitive and tailored financial services, aiming to enhance the lives and livelihoods of the people of Rwanda.
Dr. James Mwangi, Managing Director and CEO of Equity Group, expressed satisfaction with the successful merger, stating, “This merger, combining the strengths of the two entities, positions us to deliver even better access to competitive and tailored financial services, aiming to improve the lives and livelihoods of the people of Rwanda.”
The integration of resources from the combined entities and the broader Equity Group is expected to support regional economic development, fostering collaboration across nations. With a strategic presence in six countries – Rwanda, Uganda, Tanzania, Democratic Republic of Congo, Kenya, and South Sudan – Equity is positioned to be a driving force for cross-border trade support.
In the coming weeks, Cogebanque branded branches and other outlets will undergo a brand identity transition to that of Equity Bank Rwanda. This transition symbolizes a seamless integration of services and a unified commitment to providing enhanced financial solutions to the people of Rwanda.
