Nairobi, Kenya — Absa Group has increased its ownership of Absa Bank Kenya PLC after acquiring about 3.5 per cent of the bank’s issued ordinary shares through a tender offer that closed on 11 August 2026.The offer attracted 2,045 shareholders, who accepted the opportunity to sell a combined 189.38 million shares at Kshs. 34.50 each.
Following settlement, Absa Group will hold 3.91 billion shares, equivalent to about 72 percent of Absa Bank Kenya's issued share capital. The outcome comes as Absa Group continues to position Kenya as a key market for its growth ambitions in East Africa. While some shareholders chose to cash in on their investment, others retained their shares, a move the group says reflects continued confidence in the bank’s future.
Charles Russon, Absa Group Executive for Africa Regions, said Kenya remains central to the group’s regional strategy. "Kenya is a strategically important market for Absa Group and central to our East Africa growth ambitions,” Russon said.
He added that the tender offer gave shareholders a clear opportunity to realize value from their investment, while those who chose to remain invested had demonstrated confidence in Absa Kenya’s strategy and long-term prospects.
Absa Group had offered to acquire up t0 16.5 pe cent of Absa Kenya’s issued share capital. However, the 16.5 per cent was the maximum amount available under the offer and was not a target that the group was required to reach.
The bank said it is satisfied with the outcome and does not expect to return to the market to acquire the remaining shares covered by the tender offer.
The shares accepted under the offer have been transferred through block trades on the Nairobi Securities Exchange, with payments to shareholders being processed in line with the terms of the offer.
The transaction leaves Absa Group with a substantial majority holding in one of Kenya’s largest banking businesses, while maintaining a significant minority shareholding for other investors.
For Absa, the result provides greater certainty over its ownership of the Kenyan business as it pursues further growth in Kenya and the wider East African market.
Absa Group Announces Kenya Tender Offer Outcome
