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Mwango Capital

@MwangoCapital

May 12, 2022 • 16 tweets • 14 min read • Read on X

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@KeEquityBank

Welcome to the Equity Group [@KeEquityBank] Q1 2022 Earnings brief.

You can follow the proceedings on YouTube. We will be live-tweeting the key points in a thread below this Tweet.

#Equity2022Q1Results #MwangoInsights

@KeEquityBank

Equity Bank Group [@KeEquityBank] Balance Sheet 2020-2021:
#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank Group [@KeEquityBank] Economic Recovery Outlook: Regional CBR and Currency Depreciation
#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank Group [@KeEquityBank] Economic Recovery Outlook: GDP growth projected to slow down in majority of the regional counties
#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank Group [@KeEquityBank] Balance Sheet Q1 2021 Vs Q1 2022:
#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank Group [@KeEquityBank]

Regional subsidiaries continued to gain market share with their total revenue contribution to the group growing to 40% (KES 12.8B)

Subsidiaries profit after tax contribution increased 30% to KES 3.6B

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank Group [@KeEquityBank]

Turn on average equity for subsidiaries student 23.6% against the cost capital ratio of 21% with both Equity Bank Uganda and Equity Bank Rwanda joining Equity Bank Kenya to register return on average assets above 4%

#Equity2020Q1Results

@KeEquityBank

Equity Bank Group [@KeEquityBank]

⬛Strategic pursuit of quality growth so non-performing loans declined to 8.6% down from 11.13%

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank Group [@KeEquityBank]

⬛ Innovation and Digitisation: The group's digital transactions were 32x more than the ATM and Physical branches combined

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank [@KeEquityBank]

Innovation and Digitisation: The total number of digital transactions grew over 823%

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank [@KeEquityBank]

The combined efficiency gains in net interest margin growth to 6.8% up from 6.4% as a result of efficient asset allocation, improved performance of subsidiaries, declining cost of credit risk and cost efficiencies of digitisation

#Equity2020Q1Results

@KeEquityBank

Equity Bank [@KeEquityBank] Q1 2022 Results

Cost income ratio declined to 45.3% down from 49.8% while profit-after-tax grew by 36% to KES 11.9 billion FROM 8.7 billion the previous year

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank [@KeEquityBank] Q1 2022 Results

Financial Ratios:

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank [@KeEquityBank] Q1 2022 Results

2025 Strategy Framework: equity groups 2025 strategy is a multi-pronged and holistic solution to achieve social and economic transformation in Africa.

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank [@KeEquityBank] Q1 2022 Results

Transformation Plan deliverables and objectives:

#Equity2020Q1Results #MwangoInsights

@KeEquityBank

Equity Bank [@KeEquityBank] Q1 2022 Results

2022 Guidance Vs Actual:

#Equity2020Q1Results #MwangoInsights

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More from @MwangoCapital

Mwango Capital

@MwangoCapital

May 2

Starting 5th May 2025, NEMA will begin implementing the Extended Producer Responsibility (EPR) Regulations under the Sustainable Waste Management Act (L.N. 176 of 2024).

1/ A KES 150 levy will be introduced per item of packaging. 🧵

2/ What’s Affected?

The levy applies to nearly everything: plastic, glass, aluminium, paper, cardboard, rubber, leather, textiles, and composite packaging.

Think food wrappers, medicine boxes, cosmetic bottles, even sanitary pad packaging all fall under this.

3/ NEMA says the KES 150 will apply to "standard packaging" but that term isn’t clearly defined.

For example, if Panadol tablets are packed in strips, which come in boxes, the boxes packed into cartons, and the cartons stacked onto pallets - what exactly is considered the chargeable item?

Is it the strips, the box, the carton, or the pallet?

Read 10 tweets

Mwango Capital

@MwangoCapital

Apr 29

The Hass Land and Property Index Q1 2025 Report by @HassConsult:

1. Land prices in Nairobi:

— Suburbs grew +1.7% QoQ, matching Q4'24.
— Annual growth +6.9% YoY.
— Spring Valley (+3.7%), Karen & Upperhill (+2.9%) led gains.

2. Satellite town land prices:

— Up +2.4% QoQ, +9.9% YoY.
— Leaders: Kiserian (+5.0%), Thika (+4.6%), Juja (+3.2%).
— Ruaka (-0.1%) contracted.

3. Property sales prices:

— Overall up +2.45% QoQ, +4.9% YoY.
— Juja (+4.2%) and Limuru (+4.0%) led growth.

Read 8 tweets

Mwango Capital

@MwangoCapital

Oct 15, 2024

KETRACO [@KETRACO1] has taken 3 pages in the Star Newspaper to give more details on the Adani Energy deal.

Here is a thread with a few key points we noted from the statement.

@MativoMJohn @arnoldi254 @kinjeketile @Jasiri_MAR @DollyOgutu @lindahoguttu @RichardOnyonka_ 1. Background:

—The Transmission Master Plan (TMP) projects the need for an additional 9,600 km of transmission lines and a $5.2B investment by 2042 to support industrial growth and electrification.
—KETRACO is exploring Public-Private Partnerships to bridge the funding gap

2. Why PPPs?

—KETRACO projects have historically been financed through loans from development partners like the World Bank, AfDB, JICA, and Exim banks.
—The next set of funding from these partners is estimated to be available after the financial year 2028/2029.

Read 12 tweets

Mwango Capital

@MwangoCapital

May 11, 2024

The latest Finance Bill proposes several key changes to Kenya's tax laws.

Here is a thread of a few things we picked:🧵

[Corrections welcome]

@Nikhil_Hira @mwaniki_joseph @wakili_dennis @ill_dduor @coldtusker @Brianmbunde @janetmachuka_ @arnoldi254 @mmnjug @Theo_mwangi 1️⃣ Finance Bill 2024 introduces the Motor Vehicle Tax:

💰 The tax rate is set at 2.5% of the vehicle's value

🔴 Minimum tax: KES 5k. Maximum tax: KES 100k

✍️Calculation based on make, model, engine capacity, and year of manufacture.

2️⃣ Withholding Tax:

The bill introduces withholding tax on goods supplied to public entities at 3% for resident persons and 5% for non-residents.

Read 21 tweets

Mwango Capital

@MwangoCapital

Apr 16, 2024

We compiled a thread on SACCO's FY 23 Results that we have received so far.

Here is the thread:

@cheruiyotkb @the_acemt @moneyacademyKE @nderi_j @RonnyChokaa @xysist @wiseshilling @StellarSwakei @tyrus_ 1. Nation DT Sacco[@NationDTSacco]:

—Total Assets: +17.7% to 3.5B
—Net Income: +8.5% to 235M
—PAT: +3.8% to 116M
—Dividend rate on deposits: 20%
—Interest rate on member deposits: 11%

2. Magereza DT Sacco:

—Total Assets: +12.7% to 7.9B
—Net Income: +33.4% to 606M
—PAT: +53.9% to 129M
—Dividend rate on share capital: 10%
—Interest rate on member deposits: 6%

Read 21 tweets

Mwango Capital

@MwangoCapital

Apr 5, 2024

10 Key Takeaways from the CBK Post-MPC Briefing by the Governor.

1. CBK is keen on the separation of Safaricom & M-Pesa:

"One of the factors that has been delaying this..is the tax liability which is fairly significant in the order of at least KES 75B & what to do with it"

2. There has been a sharp rise in remittances to Kenya this year:

"If one were to compare the first two months of 2024 (Jan & Feb 2024), we see remittances for those two months compared to the two months in 2023 have increased by more than 20%"

3. There was a slowdown in growth in credit to the private sector in Feb 2024 from 13.8% to 10.3%

"A certain amount of private sector loans is denominated in dollars & therefore, when the exchange rate appreciated the level of credit to the private sector did decline"