Analysts predict Equity Bank’s stock gain on Congo acquisition, Equitel

Analysts have predicted heavy demand for Equity Bank’s shares in the coming weeks following the collapse of one of the two cases seeking to stop the rollout of the bank’s new mobile money platform, Equitel and recent acquisition of majority stake in ProCredit Bank of DRC-Congo.

Standard Investment Bank and respected research firm, Stratlink Africa, in their short-term and long-term projections for the Nairobi Securities Exchange (NSE) market, have predicted a share price surge for Equity Bank stock based on the two recent fundamentals. In its June Africa markets update, research firm Stratlink Africa said Equity’s share is likely to start reaping the benefit of its expansion into new markets such as Congo DRC.