Equity Group DRC Insurance: Two Firms Await DR Congo Licences
DR CONGO · BUSINESS
Key Facts
- —What happened Equity Group shareholders approved two new insurers in DR Congo, a life and a general company.
- —The context The Kenyan bank has operated in DR Congo since 2015 and already sells insurance in Kenya.
- —Why it matters Expats and firms in DR Congo could gain more insurance choice through a large bank’s branches.
- —The catch The insurers are not licensed or launched; Congo’s regulator ARCA lists no Equity insurer today.
- —Who it affects Equity BCDC customers, expats and investors in DR Congo, and Equity shareholders in Nairobi.
- —What comes next Equity must apply to ARCA; a licence or launch announcement is the next clear signal.
Kenya’s Equity Group wants to sell insurance in DR Congo, where its bank already earns strongly. Shareholders agreed in June, but the regulator must still say yes.
The Equity Group DRC insurance plan is two new companies: a life insurer and a general insurer. Shareholders of the Kenyan lender approved both on Wednesday 24 June 2026, subject to regulatory approval.
What Equity Group shareholders approved
Equity Group Holdings is one of East Africa’s largest banking groups, based in Nairobi. It held its 22nd annual general meeting online on 24 June 2026.
Shareholders approved every resolution on the table, according to the company’s statement. These included three new insurance companies, all conditional on regulatory approval.
Two are in the Democratic Republic of Congo (DRC). A life insurer will have US$12 million in capital, and a general insurer US$13.37 million.
That is US$25.37 million in total for Congo. The third company is a microinsurance business in Kenya, with KSh192 million (US$1.5 million) at 18 September 2026 rates.
Microinsurance means small, low-cost policies for people on modest incomes. The Kenyan company would be the group’s first dedicated microinsurance business, according to The Kenyan Wallstreet.
All three will be held through Equity Group Insurance Holdings Limited. Shareholders also authorised the board to set up and run the new companies.
What the bosses said
Managing director and chief executive James Mwangi linked the vote to the group’s wider strategy. “The approvals to expand our insurance footprint strengthen our ability to offer more holistic financial services,” he said.
Chairman Isaac Macharia said “the approvals received today reflect our shareholders’ confidence in Equity’s strategy and oversight.” Neither gave a launch date.
Why the Equity Group DRC insurance move makes sense
Equity already sells insurance in Kenya through life, general and health companies. In the first half of 2026, that insurance business grew gross written premiums by 24% to KSh6.4 billion (US$49 million).
Its profit before tax rose 34% to KSh1.25 billion (US$9.7 million), the group said on 19 August 2026. Gross written premiums are the total insurance sales before claims and costs.
Equity has been in DR Congo since 2015, when it bought a majority of ProCredit Bank. It later merged that bank with Banque Commerciale du Congo to form Equity BCDC.
In the first half of 2026, Equity BCDC raised profit after tax by 30% to KSh11.8 billion (US$91 million). Selling insurance to its existing customers is a natural next step.
Dividend and other decisions
The same meeting approved a dividend of KSh21.7 billion (US$168 million) for 2025. That is KSh5.75 (about US$0.04) per share, up 35.5% on the previous year’s payout.
Shareholders re-elected four directors, including Macharia. They also appointed Eliane Ubalijoro to the board, subject to regulatory approval.
Congo is where Equity is hiring
Equity’s total staff rose to 14,265 in June 2026, from 13,855 in March. The DRC unit showed the largest growth in employee numbers, Kenya’s Business Daily reported.
That hiring fits a group putting more people and capital into Congo. The new insurers would add a further business line there.
Most profit still comes from Kenya
The group’s subsidiaries outside Kenya now hold 54% of its loans and 51% of its deposits. But they deliver only 42% of banking profit, the group says.
They also bring in 47% of banking revenue and hold 52% of banking assets. In other words, more than half of the group’s banking balance sheet now sits outside Kenya.
Equity Bank Kenya still earned KSh25.7 billion (US$198 million) after tax in the first half. That is more than twice Equity BCDC’s result, according to the outlet Bankable.
The Rio Times described this gap on 22 August 2026: most lending has left Kenya, but most profit has not. Insurance in Congo is one way to earn more from the same customers.
Why this matters to expats and investors
For expats and firms working in DR Congo, a new insurer tied to a large bank could mean more choice. Life and general cover could be sold at the same branches where people already bank.
The regulator, the Insurance Regulation and Control Authority (ARCA), lists ten licensed insurers online. None carries the Equity name, so the market remains small.
For people who already bank with Equity BCDC, nothing changes today. Accounts, loans and fees are not affected by the insurance vote.
For shareholders in Nairobi or abroad, the capital involved is modest. Group profit after tax was KSh45.5 billion (US$351 million) in the first half of 2026 alone.
What is not known yet
Equity has not said when it will apply for, or expect, DRC licences. Its 19 August 2026 half-year results did not mention the Congo insurance plan.
There are also no published names, managers, products or price plans for the two companies. The timing depends on ARCA and other regulators.
The next clear signal will be a licence from ARCA or a launch announcement from Equity.
The big picture: DR Congo explained — economy, politics, society and daily life in one read.
More: DR Congo news in English, every day from The Rio Times.
Frequently Asked Questions
Frequently Asked Questions
What did Equity Group shareholders approve for DR Congo?
Two new companies: a life insurer with US$12 million in capital and a general insurer with US$13.37 million. Both need regulatory approval first.
Are the new insurers already operating?
No. ARCA’s online list of licensed insurers does not include any Equity company, and no launch date has been announced.
Why does Equity Group want insurance in Congo?
Its Congolese bank, Equity BCDC, is growing fast. Insurance lets the group sell more services to the same customers, as it already does in Kenya.
Connected Coverage
Most of Equity Group’s Lending Has Left Kenya. Most of Its Profit Has Not
Four Kenyan Banks Make a New Global Top-500 Ranking, in a First for East Africa
Equity Bank to Channel US$25 Million in Climate Finance to Tanzanian Farmers
Sources: Equity Group Holdings AGM statement, 24 June 2026, and half-year results, 19 August 2026; Insurance Regulation and Control Authority (ARCA) of DR Congo; TV47; The Kenyan Wallstreet; Business Daily; Bankable.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.