Equity Bank is a classic case study of how an empire is built

Equity Group Holdings CEO James Mwangi ( left) signs an agreement with ProCredit Holding Manager Helen Alexander (right) during a press briefing to announce the acquisition of 79 per cent of the issued share capital of ProCredit Bank Congo. Looking on are from Left, Equity Group Holdings’ Company Secretary Mary Wamae, Equity Group Holdings Chairman, Peter Munga [PHOTO: FILE/STANDARD]

Equity Group Holdings’ announcement last month that it has bought 79 per cent of Pro Credit Bank Congo, a subsidiary of German-based multinational bank operating in the Democratic Republic of Congo (DRC) continues to broaden the horizon of Kenya’s financial and business sector in a way reminiscent of building of great empires.

A walk down memory lane reveals that all countries that built global empires did it by extending their reach beyond their natural borders. Evidence on the ground reveals that while in the past empires were built on the back of colonial conquests, the trend since the end of the Second World War has been that investments and trade have led the way.