<\/p>\n
Absa Group plans to raise its stake in its Kenyan unit to 85% through a R3.93 billion tender offer, underscoring its confidence in East Africa\u2019s growth prospects.<\/p>\n
The Johannesburg-based lender will offer 34.50 shillings ($0.27) per share for an additional 16.5% of the Absa Kenya Plc, it said in an emailed statement on Thursday. That\u2019s a premium of 20% to the Nairobi-listed company\u2019s volume weighted average price in the 30 days to June 17, it said.<\/p>\n
Absa Group\u2019s shares were 0.1% lower at 10:09 a.m. on Friday in Johannesburg while Absa Kenya\u2019s stock jumped as much as 12%, before paring gains to 10.5%.<\/p>\n
Some of Africa\u2019s biggest lenders are eying Kenya as a gateway into East Africa\u2019s fast-growing but underbanked economies. Nedbank Group. announced in January it would buy a majority stake in NCBA Group Plc for around R13.9 billion ($842 million).<\/p>\n
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The African Development Bank estimates East Africa\u2019s economy will grow at 5.9% this year, outpacing all the other regions on the continent.<\/p>\n
Absa \u201cregards East Africa as a cornerstone of its pan-African growth ambitions,\u201d the lender said. Its Africa regions contributed nearly a third of headline earnings in 2025.<\/p>\n
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The group intends to maintain Absa Kenya\u2019s listing on the Nairobi Stock Exchange.<\/p>\n
The announcement is \u201cstrategically positive\u201d for Absa Group as it increases its economic exposure to one of Africa\u2019s fastest-growing banking markets and a franchise with high return on equity, according to RMB Morgan Stanley analyst James Starke.<\/p>\n
Absa Kenya\u2019s ROE was 23% last year, compared with 14.9% for the group. The business contributed about 9% of the group\u2019s earnings in 2025, and the incremental stake could add another 2%, Starke wrote in a note to clients.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Absa #lift #Kenya #unit #stake #R3.93bn #tender<\/p>\n","protected":false},"excerpt":{"rendered":"
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