How a 'messy' divorce spoiled dream of Africa’s young billionaire

Ashish Thakkar. In October 2016, he told a court in London that he was worth only about Sh54 million and didn’t own anything in Mara Group, a pronouncement that sent jitters among investors in the firm. [File, Standard]

Equity Bank’s announcement that it had reached a deal to buy four regional banks has drawn interest to the ownership of the lenders and the state of their health.

The bank’s Chief Executive James Mwangi announced plans to buy 62 per cent of Banque Populaire du Rwanda Ltd, 100 per cent stake in African Banking Corporation Tanzania Ltd, African Banking Corporation Zambia Ltd and African Banking Corporation Mozambique Ltd.