Africap reduced stake in Equity to 1%

BDA (finally, and it still repeated that mistake with the shareprice perfomance) confirms the trade that took place just before year end.

Africap haven't yet explicitly confirmed this and its website still shows that it does still hold a stake in Equity.

Does it matter that Africap has exited? Not really, it has held the stake for over 5 years and crucially gave Equity the credibility it required at the time in addition to the funding. The end of the lockdown in August was always meant to give some of the shareholders an opportunity to exit. Equity today has some other strong foreign stakeholders such as Britak and Helios (by the way, I am willing to bet any money that some of the large investors in Helios are Kenyans). Still, having some local investors will add to that feeling of deja vu...