Kenya’s richest banker James Mwangi has added $12.6 million to his wealth from his stake in Equity Group, following a strong rally in the lender’s shares on the Nairobi Securities Exchange.

Mwangi, who serves as CEO and managing director of Equity Group, controls 127.8 million shares, equal to a 3.39 percent stake in the bank.

Over the past four months, the value of his holding has surged to $54 million, reinforcing his status as one of East Africa’s most influential business leaders.

Equity Group, with operations in Uganda, Tanzania, South Sudan, Rwanda, and the Democratic Republic of the Congo, has grown into a regional powerhouse under Mwangi’s leadership, serving millions of customers.

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