Equity Group Holdings is recalibrating its regional growth strategy, turning its focus to Angola as persistent regulatory delays continue to stall its long-anticipated entry into Ethiopia.
According to reports by The Africa Report, the lender is now considering acquiring a bank in Luanda, signalling a shift away from Ethiopia, where it has been seeking entry for several years.
Although Ethiopia officially opened its banking sector to foreign players in 2024, the process on the ground has proved far from straightforward. Strict licensing conditions, caps on foreign ownership, and close regulatory scrutiny have all contributed to slow approvals for international banks.
Angola, by contrast, offers a more direct route. Equity is said to be pursuing a majority stake in a Luanda-based lender, allowing it to establish a foothold without the drawn-out process of securing a new banking licence from scratch.
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If completed, the move would mark Equity’s first expansion beyond its core East and Central African markets, where it already operates in countries including Kenya, Uganda, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo.
