Absa Group Ltd. launched a tender offer to increase its stake in Absa Bank Kenya PLC from 68.5% to 85%. The transaction is valued at approximately R3.93 billion ($239 million).
Absa is offering to purchase shares at a 20% premium to the 30-day volume-weighted average price. The move signals the South African lender's confidence in East Africa's growth prospects and regional expansion strategy.
Absa Bank Kenya will remain listed on the Nairobi Securities Exchange following the transaction. The tender offer is expected to run from late June to mid-August 2026, pending regulatory approvals.