Their entry into Rwanda and Tanzania will be an effort to try and grow their profits but this will take time for them to recoup their investments.
If you had seen the 3rd quarter results Equity reported a decline in loans advancement since its inception in 2004.That means it is nearing saturation in Kenya and will be in the same predicament like Barclays Bank.
The bank is trying to show shareholders that is can still grow profits by going into rwanda and Tanzania.But as we know in these countries contribution to the bottomline will be very low.

I concur that a bull or bear cannot be clearly inferred from the current swings. Honestly they don't bother me for now. We have to wait till results by mid this month to Mar before a direction can be confirmed. If not we will have to wait till May for the next reporting season.