Equity Group Holdings is redirecting its regional expansion plans toward Angola, as prolonged regulatory hurdles continue to delay its entry into Ethiopia, in news first reported by The Africa Report.
- •According to the publication, the lender is now exploring a bank acquisition in Luanda, marking a shift from its earlier focus on Ethiopia, a market it has been attempting to enter for several years.
- •Ethiopia formally opened its banking sector to foreign participation through a 2024 legal reform. However, the practical process of entry has proven more complex.
- •Licensing requirements, ownership limits, and heightened regulatory scrutiny by the central bank have slowed approvals for foreign institutions.
In contrast to Ethiopia, Angola presents a clearer pathway through acquisition. Equity is understood to be targeting a majority stake in a Luanda-based bank, allowing it to establish a presence without navigating a prolonged greenfield licensing process.
The move would also mark Equity’s first expansion outside its traditional East and Central African footprint, which currently includes markets such as Kenya, Uganda, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo.
