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Equity Group chairman retires after 35 years of service

Equity Group Holdings PLC said Chairman Peter Munga has retired from his post after serving for 35 years at the Kenyan lender, Business Daily Africa reported.

Munga will be succeeded by Equity Group's vice chairman, David Ansell, according to the report.

Munga's retirement came as a surprise because he was re-elected at the company's annual general meeting a month ago, Business Daily Africa noted.