Equity Group Chair, Peter Munga, to retire after 35 years of service

By professo

Peter Munga has announced that he will be retiring from his position as Chair of the financial services company, Equity Group Holdings.

The businessman has worked for the bank – which is headquartered in Nairobi, Kenya – for 35 years.

Munga has held the position as Equity’s Founder Chairman since 1984.

Munga, 75, will be replaced be David Ansell, the firm’s Vice-Chairman, once he has substantially his holding in Equity.

SEE ALSO:

“Mr Munga who has been the founder chairman since 1984 expressed his desire to retire from the board to mark his 35 years of service as he celebrates his 75th birthday,” stated Equity Group.

The bank has subsidiaries in Kenya, Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of Congo.

The CEO’s retirement was unexpected due to his re-election at Equity’s AGM last month.

However, Munga cut his 3.2% stake down to 0.4% in December last year.

Share
Share

Featured Articles

Abu Dhabi Airports prepares for Terminal A opening

A decade in the making, Abu Dhabi International Airport welcomes 6,000 volunteers to test operational readiness of stunning new Terminal A building

Business Chief expands portfolio with new look and coverage

Business Chief Middle East & Africa launches with fresh new look and extended coverage of the region, with exclusive executive interviews and insights

How Octopus Energy grew to become an industry giant

Octopus Energy continues to grow after a deal was agreed to acquire Shell Energy in the UK and Germany, taking its customer base to almost seven million

Perkbox CEO: How to support employees through tough times

Human Capital

How Middle East is embracing the future of digital finance

Corporate Finance

UAE Lulu Group shifts business for global growth and IPO

Corporate Finance