Equity group company hired 538 more people due to a growth in branch locations, mainly in the Democratic Republic of the Congo (DRC), where Equity Group’s most lucrative subsidiary is based.
According to the most recent data, employment in Equity has increased by 1,908 in the last four years, illustrating the impact of the area’s continued growth. In 2018, there were 6,318 employees.
Equity had created 16 branches by September of last year, increasing its total to 353 from 337 in December 2021. The number of Equity Banque Commerciale du Congo (Equity BCDC) branches in the DRC increased from 70 to 81.
As of right now, the organization has offices in Kenya, Uganda, South Sudan, Tanzania, Rwanda, and the Democratic Republic of the Congo.
The subsidiaries have raised their share of Equity’s total profits through growth and new investment. Equity’s most recent reports indicate that as a result of the growth of subsidiaries, the share of group profits attributable to Kenyan activities has decreased from 85 percent in 2018 to 72.4 percent at the end of the previous year.
Equity BCDC, the largest corporation outside of Kenya, was created after the lender 2020 acquired a 66.53 percent stake in BCDC from George Forrest’s family and combined it with an already-existing business in the Democratic Republic of the Congo.
Equity’s staff costs increased 29.8 percent to Sh24.8 billion in the review period, up from Sh19.1 billion the previous year, as the number of employees increased.
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