Why Absa Wants More of Its Kenya Business

Absa Group moves to raise Absa Bank Kenya stake to 85%

South Africa’s Absa Group is putting fresh money behind its East African business. The lender has launched a tender offer worth roughly KSh30.9 billion ($238.6 million) to lift its stake in Absa Bank Kenya from 68.5% to 85%, a move that signals growing confidence in Kenya’s banking sector and the wider East African growth story. [...] The post Absa Group moves to raise Absa Bank Kenya stake to 85% appeared first on Khusoko - Your Gateway to East…

Why Absa Wants More of Its Kenya Business

When Absa Group announced plans to spend Sh30.9 billion to increase its ownership in Absa Bank Kenya from 68.5 percent to 85 percent, the immediate focus fell on the premium it was willing to pay minority shareholders. Yet the proposed transaction reveals something larger than a vote of confidence in recent earnings. The Absa Bank … The post Why Absa Believes More Growth Will Come From Kenya appeared first on TechTrendsKE.

Absa Group offers Sh31bn for extra 16.5pc stake in Kenya unit

The proposed offer price comes after Absa Bank Kenya’s share price had rallied to hit an all-time high of Sh33 before easing to close at Sh29.4 on Thursday.