This development follows the strategic move by Equity Group Holdings PLC, which acquired a majority 99.2610% stake in Cogebanque, signaling a unified front with heavyweight backers such as the Rwandan government, Rwanda Social Security Board, Judith Mugurasoni and other minority shareholders.

The merger, which follows a period of diligent planning and adherence to regulatory requirements, reflects the collaborative effort to continuously improve the banking experience for customers.

Hannington Namara, the Managing Director of Equity Bank Rwanda and Emmanuel Mugandura , the Ag CEO of Cogebanque have reassured stakeholders of a smooth transition, with a focus on sustaining service excellence and operational superiority.

On Friday, December 29, 2023, a joint communiqué released by both entities detailed the upcoming merger, marking a new chapter in the financial narrative of Rwanda.

The fusion of these two banking institutions is set to enhance the economic landscape, promising a future of innovative banking solutions and a strengthened market presence as the new year approaches.