EQUITYBCDC ANNOUNCES THE APPOINTMENT OF IGNACE MABANZA METI AS CHAIRMAN OF THE BOARD OF DIRECTORS

• Chairman Mabanza Meti to lead a strong Board of accomplished professionals, newly appointed and veteran.

• The new Directors join the EquityBCDC Board, comprised of a globally experienced talent pool with appropriate skill sets to support the economic, social and sustainability goals of the DRC, as well as the governance, compliance, internal controls and technology expertise needed to take the EquityBCDC business to the next level as the DRC market attracts more investment attention.

• In November 2024, Equity BCDC announced a new Managing Director subject to regulatory approval, Willy Mulamba formerly of Citibank DRC and a slate of veteran appointments to support the focus of bringing services closer to our customers, to strengthen the Human Resources, Finance and Internal Control functions, to facilitate decentralization of decision-making authority for ease of service to customers, and to support the socio-economic transformation of the DRC and its population through programs of our social engine under the Equity Group Foundation.

EquityBCDC is pleased to announce the appointment of Mr. Ignace Mabanza Meti as Chairman of the Board of Directors. With a solid academic background, including an MBA, a diploma in political and administrative sciences, and a degree in applied economics obtained from the Université Catholique de Louvain in Belgium, he will bring valuable expertise to this role.

Mr. Mabanza Meti has over 37 years' experience in the banking sector and has held senior management positions in several renowned financial institutions, both in the DRC and in West African countries such as Niger, Senegal and Nigeria. A former CEO of Citibank and Access Bank in the DRC, he currently heads Congo Fret Express. His varied background and in-depth understanding of financial challenges make him a visionary leader at the head of the Board of Directors, ready to steer EquityBCDC towards strength in order to serve the economic development of the DRC market and support the Congolese people in social transformation.

"As one of the Board Members we are delighted to entrust this critical role to Mr. Ignace Mabanza Meti, as we actively engage in transforming lives and livelihoods in the Democratic Republic of Congo," said Dr. James Mwangi, Group Managing Director and CEO of Equity Group Holdings. "This is a pivotal time for the Democratic Republic of Congo, and it is essential for Equity Group to support the Congolese government's efforts to foster the country's growth as defined by the National Development Plan (NDP) for 2022-2026."

Equity Group Holdings Plc (EGH), with its `Africa Recovery and Resilience Plan’ (ARRP) values the strategic importance of the DRC, particularly in the transition to green energy, the importance of its strategic minerals, the global importance of its nature-based assets in the Congo River Basin and Virunga National Park, and the potential for food production to contribute to food security.

As part of the ARRP, EquityBCDC aims to reach 30 million customers in the DRC by 2030, drawing on skilled human resources, solid capital and advanced technologies.

“Mr. Mabanza is well suited to take over the reins of this impactful and significant organization, at such a pivotal moment in the DRC’s journey,” said Wolfgang Bertelsmeier, outgoing Chairman of the Board of Directors, EquityBCDC. “With his long banking experience on the global stage, he is perfectly placed to support EquityBCDC in its next chapter. I look forward to serving under his leadership.”

Mr. Ignace Mabanza Meti is a bilingual, results-oriented professional with over 37 years of management and leadership experience in the banking sector, mainly in the Democratic Republic of Congo and West Africa. He began his career with Banque Commerciale Du Congo (BCDC) in 1987 and joined Citibank RDC SA in 1988, where he spent 19 years, reaching the position of Managing Director in 1998. Mabanza Meti was also Executive Director and Interim Chairman of the Board of Citibank RDC. In 2008, he joined Access Bank PLC in Nigeria and played a key role in the establishment of its subsidiary in Kinshasa in 2009, holding respectively the positions of Managing Director and Chairman of the Board of the Directors. He was instrumental in making Access Bank a stable and growing banking institution in the DRC, with a focus on digitalization and improving customer service. In April 2020, he became an Independent Director on the Board of BCDC, then took part in the merger with Equity Bank Congo (DRC) to become a Director of Equity Banque Commerciale Du Congo SA. There, he chaired the Audit Committee until December 2024. He is also a financial expert, consultant, project developer and trainer. He holds an MBA from the Louvain Business School and degrees in political and administrative science and applied economics from the Université Catholique de Louvain in Belgium.

EquityBCDC looks forward to benefiting from the vision, experience and leadership of Mr. Ignace Mabanza Meti as Chairman of the Board of Directors, as the institution strives to play a vital role in the economic and social development of the Democratic Republic of Congo.

Chairman Mabanza Meti is joined by a slate of new Board Directors who are joining respected Term members of the EquityBCDC Board, comprised of a globally experienced talent pool with appropriate skill sets to support the economic, social and sustainability goals of the DRC, as well as the governance, compliance, internal controls and technology expertise needed to take the Equity BCDC business to the next level as the DRC market attracts more investment attention.

• Cédric Lilongo Baende is Advisor in charge of coordination of the Legal Unit of the Minister of the Portfolio of the Democratic Republic of Congo. He has also been Legal and Administrative Advisor to the Minister of Foreign Trade and has served as Representative of the Guardianship on the Board of Directors of the National Agency for Promotion of Exports. He has been practicing law for almost 20 years and is a veteran trade law expert.

• Yvette Vetokele is a seasoned development executive having worked with UNDP, MONUSCO, USAID, the World Bank and the Embassy of the United States in the DRC in various roles. She was most recently the manager in charge of logistics, imports and exports of telecommunications equipment at VODACOM Congo.

• Mr Éric Mboma Tamutunu, is a visionary leader and expert in finance, the mining industry, and strategy, widely recognized for his dedication to transforming the African financial sector and fostering financial inclusion across the continent. In his most recent corporate role, he led an insurance group across the Middle East and North Africa region. A venture capital enthusiast, Éric’s journey is marked by an unwavering commitment to innovation and progress. He brings a bold vision for Africa’s future.  With an MBA from Chicago Booth, an MPA from Harvard Kennedy School, and advanced qualifications from ESCP, Duke University, and Tel Aviv University, Éric’s academic career underscores his pursuit of excellence.

• Sandra Antunes Boumah, a Multilingual Banker and Investment Banking Expert with a career of over 20 years’ experience with a bias in investment banking, investment management, sustainable finance, and capital markets. She has previously worked in notable banks like IFC and JP Morgan across Africa and Europe in charge of investment strategy, specifically on increase of financial inclusion and delivering sustainable finance for markets in Africa. She is currently the Chief Representative at Commerzbank at Casablanca, Morocco. She is a native of Morocco.

• Kadita Tshibaka, has had an illustrious banking career with over 40 years of experience in corporate and retail banking, operations, treasury, risk management, microfinance, and people developlment. Mr. Tshibaka spent 33 years at Citigroup, becoming Head of Corporate Risk Management, responsible for some 77 emerging markets between 2002 and 2004. After retiring from Citi, he moved to Lloyds TSB Group, where he worked as Divisional Risk Director, Wholesale and International Banking in London (2005-2007) and Executive Vice­President and Country Manager USA (2007). He subsequently provided leadership, including as interim CEO (2009) and Board member to Opportunity International, a global microfinance organization (2008- 2013). In June 2014, Mr. Tshibaka was appointed member of the Board of Directors of Ecobank Transnational Inc. (ETI), where until June 2017 he served as Nominee Director of the International Finance Corporation (IFC), a member of the World Bank Group. Since 2015 and until September 2020, Mr. Tshibaka served on the Board of Africa New Day (Transformational leadership training), including two years as Chairman. He is a native of DRC Congo and holds a Bachelor of Economics degree from Dartmouth College (USA) and an MBA from The Amos Tuck School of Business Administration (Dartmouth College). He is married and a father of two grown children and grateful grandfather of seven.

• Wolfgang Bertelsmeier, Former Chair of the Board of Directors, holds a degree in Business Administration from Frankfurt University and a degree in Banking as well as executive education courses at Harvard Business School, INSEAD and Stanford University. He has worked in various capacities with Deutsche Bank, DEG, the World Bank and the IFC and has held various Board Directorships primarily in financial institutions in Europe, Asia and Africa, as well as infrastructure, agribusiness and hospitality companies in Africa. He is a native of Germany.

• John Wilson is a graduate of the Swedish Military Academy and holds a Master of Arts in Economics from Uppsala University and a Master of Public Affairs from Woodrow Wilson School at Princeton University. John began his career at McKinsey & Co in Europe and the former Soviet Union, focusing on manufacturing/transportation/infrastructure. He then joined the World Bank Private Sector Development Department working on privatization in Cameroon, Ghana, Malawi, Russia, Ukraine, and was thereafter seconded as the head of the IFC Global Head of Capital Markets. Returning to his native Sweden, John built the Export & Project Finance department at Swedbank, and then headed up Structured Finance, Equity Capital Markets, Investor Relations and Corporate Strategy including M&A. In 2006, he joined Kaupthing Bank as Head of Investment Banking and then returned to IFC in 2008. He joined EGH in August 2019 as Group Chief Operating Officer. He is a native of Sweden.

• James Mwangi, CBS, is the Equity Group Holdings Managing Director and CEO and Executive Chairman of the Equity Group Foundation. James holds six honorary doctorate degrees in recognition of his positive impact in the East Africa region and holds a Bachelor of Commerce degree and is a Certified Public Accountant. He has been awarded the G8 Global Vision Award, 2007; named among the Top 50 Emerging Market Business Leaders and the 20 Most influential people in Africa in 2011 by the FT; named the World Entrepreneur of the Year by Ernst & Young in 2012; the Forbes Africa Person of the Year in 2012 and named in the Bloomberg 50 list of people who defined 2019 globally. He is an honoree of the 2020 Oslo Business for Peace Award, also described as the ‘Nobel Prize for Business’. James sits on the US Council on Foreign Relations; the World Bank Presidential Jobs Council; HM King Charles Sustainable Markets Initiative co-leading its Africa Council; HM King Charles Trust as an Africa Advisory Board member and he co-chairs the UN Global Compact African Business Leaders Council, among other international appointments for his lifelong work in financial inclusion. He is a native of Kenya.

• Brent Malahay, is the Equity Group Holdings Chief Strategy Officer. Brent holds a Master’s degree in Economics and a Bachelor’s degree in Commerce from the University of KwaZulu-Natal, South Africa. He has over 16 years’ experience in financial services with competencies ranging from commercial banking, credit ratings, investment banking and fund management. He has previously worked at Standard Bank, Fitch Ratings, J.P. Morgan and Investec Asset Management. He is a native of the Philippines.

ABOUT EQUITY GROUP HOLDINGS:

Equity Group Holdings Plc. is a pan-African financial services holding company listed on the Nairobi, Uganda and Rwanda stock exchanges. The Group has banking subsidiaries in Kenya, DRC, Rwanda, Uganda, Tanzania and South Sudan, as well as a commercial representative office in Ethiopia. Other subsidiaries include investment banking, insurance, telecommunications, fintech and social impact investments. Equity Group is the largest bank in the region, with a market capitalization of $4 billion. 

Its main shareholders are Norwegian sovereign wealth funds Norfund, FMO and Rabobank through Arise Investments, and the World Bank through an IFC stake.   

The Group has assets of $13 billion and a customer base of 21 million through 404 branches, 83,142 agents, over 1.1 million merchants paying with their own funds, 33,179 point-of-sale merchants, 828 ATMs and extensive adoption of the digital banking channel. Strong brand recognition, robust cash reserves and resilient funding profile, established national franchise and extensive adoption of digital and alternative distribution channels have earned the bank the honor of being the second strongest financial brand on earth in 2024 by Brand Finance. To date, the Equity Group Foundation has raised over 680 million USD to implement social development programs in the following areas: education and leadership development; food and agriculture; health; energy, environment and climate; financial inclusion and enterprise development; social protections; innovation and technology.

For further information, visit https://equitygroupholdings.com/

ABOUT EQUITYBCDC

EquityBCDC is a subsidiary of Equity Group Holdings Plc, following the acquisition of the majority of BCDC shares by EGH in July 2020. Established in the DRC since 1909, EquityBCDC facilitates access to banking services for all and finances Micro, Small, Medium and Large Enterprises, notably through inclusive financial products and services that socially and economically strengthen consumers, businesses and communities. EquityBCDC's vision is to champion the socio-economic prosperity of the people of Africa by transforming lives, ensuring dignity and providing opportunities for wealth creation.

For more information visit https://equitygroupholdings.com/cd/

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MEDIA CONTACT

Lesly TUNGWA

Communications and Marketing Director, EquityBCDC

Lesly.tungwa@equitybcdc.cd

Alex MUHIA

Communications Director, Equity Group Holdings

Alex.muhia@equitybank.co.ke