At that time, the insurance company Compagnie Générale d'Assurance et de Reassurance, was the largest shareholder, with 34 percent ownership.

[5] In June 2023, Equity Group Holdings signed an agreement to acquire 91.9 percent shareholding in the stock of Cogebanque for a consideration of RWF:54.68 billion (approx.

The deal requires regulatory approval by regulators in COMESA, Rwanda and Kenya, as well as shareholders in Cogebanque and Equity Group Holdings.

[6] The acquisition deal closed on 30 November 2023, with Equity Group Holdings paying US$47 million for 99.125 percent shares of stock of Cogebanque.

Under a separate agreement, Equity Group agreed to buy the Cogebanque headquarters building for KSh1.4 billion (US$9.2 million) within one year from the completion of the transaction.