Kenya Commercial Bank (KCB) and Equity Group will have to sell at least 30% of their shares in their subsidiaries in the Democratic Republic of Congo (DRC), in accordance with the legislation in force in the country (DRC), in accordance with the legislation in force in the country. According to the Central Bank of Congo (BCC), banks must have at least four independent shareholders, including the current owners

The Central Bank of Congo (BCC), the central bank of the DRC, issued a directive known as Instruction 18 requiring banks operating in the country to have at least four independent shareholders.

This includes current owners who are required to own at least 15% by the end of 2026 to spread the risks.

In addition, local shareholders must also own at least 45 percent.

Equity Group Holdings and KCB Group Plc hold 85% of the shares of their subsidiaries in the DRC.

Banks need to sell significant holdings in the next 20 months to comply with BCC requirements.

The large size and huge population of the DRC make it a good market for banks planning to grow and expand in Africa.

Besides Kenya, both banks recorded huge profits in the DRC compared to Rwanda, South Sudan, South Sudan, Uganda, and Tanzania in 2024.