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Absa Group announces intention to increase shareholding in Absa Kenya through a tender process.

19 June 2026

Nairobi, Kenya / Johannesburg, South Africa

Absa Group Limited has announced its intention to launch a tender offer to acquire up to approximately 896 million ordinary shares in Absa Bank Kenya PLC from eligible shareholders.

Absa Group currently owns approximately 68.5% of Absa Bank Kenya. If the tender offer is fully accepted, the Group’s shareholding would increase to a maximum of 85%, representing the acquisition of up to 16.5% of the bank’s issued share capital.

The proposed transaction reflects Absa Group’s long-term confidence in Absa Bank Kenya, Kenya’s banking sector, and the broader East African market. It supports the Group’s pan-African growth strategy and its commitment to strengthening its presence in high-growth markets across the continent.

“Kenya is a strategically important market for Absa Group and remains central to our East Africa growth ambitions,” said Charles Russon, Group Executive: Africa Regions. “This proposed transaction reflects our confidence in Absa Bank Kenya’s leadership, strategy and long-term growth prospects, as well as our continued commitment to supporting Kenya’s economic development.”

Absa Group intends to maintain Absa Bank Kenya’s listing on the Nairobi Securities Exchange following completion of the tender offer. The Group does not intend, as a result of the offer, to change the bank’s business strategy, executive management team, employee base, or day-to-day operations.

The proposed transaction relates solely to Absa Bank Kenya’s shareholding structure and will have no impact on customers, products, services, branches, accounts or day-to-day banking operations. Absa Bank Kenya will continue to serve customers as normal.

Providing shareholders with a choice

The tender offer will provide eligible shareholders with the opportunity to sell some or all of their shares should they wish to do so. Shareholders who choose not to participate will not be required to take any action.
The offer price will be KES 34,50 per ordinary share, subject to the final approved terms of the tender offer.

Shareholders are encouraged to read the tender offer document in full once it becomes available and to seek advice from their stockbroker, custodian, investment bank, or other professional adviser if they are uncertain about any aspect of the offer.

Regulatory status

The proposed tender offer remains subject to regulatory approvals from the Capital Markets Authority (CMA). The offer will not commence until the necessary approvals have been obtained.

Offer process

Once the tender offer opens, eligible shareholders who wish to participate will be able to submit acceptances through the channels detailed in the tender offer document. These are expected to include electronic application channels, mobile or USSD options where applicable, and physical tender forms through authorised acceptance agents.

The offer is expected to remain open for 30 business days, subject to the final approved timetable. Any changes will be communicated through the appropriate regulatory channels.

 

Important notice

This media release is provided for information purposes only and does not constitute an offer, invitation, recommendation or investment advice. The tender offer will be made solely on the terms and conditions contained in the official tender offer document and acceptance form once issued.

Approval of the tender offer document by the CMA, if granted, should not be interpreted as an endorsement of the offer or a recommendation to Absa Bank Kenya shareholders.

About Absa Group

Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Kenya and South Africa. Absa also has representative offices in Namibia, Nigeria and the United States, a registered financial services entity in the People’s Republic of China, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.

For further information about Absa Group Limited, visit www.absa.africa
Media queries: Daniel Munslow, Managing Executive: Group Communications
M +27 71 347 6915
E daniel.munslow@absa.africa

19 June 2026

Nairobi, Kenya / Johannesburg, South Africa

Absa Group Limited has announced its intention to launch a tender offer to acquire up to approximately 896 million ordinary shares in Absa Bank Kenya PLC from eligible shareholders.

Absa Group currently owns approximately 68.5% of Absa Bank Kenya. If the tender offer is fully accepted, the Group’s shareholding would increase to a maximum of 85%, representing the acquisition of up to 16.5% of the bank’s issued share capital.

The proposed transaction reflects Absa Group’s long-term confidence in Absa Bank Kenya, Kenya’s banking sector, and the broader East African market. It supports the Group’s pan-African growth strategy and its commitment to strengthening its presence in high-growth markets across the continent.

“Kenya is a strategically important market for Absa Group and remains central to our East Africa growth ambitions,” said Charles Russon, Group Executive: Africa Regions. “This proposed transaction reflects our confidence in Absa Bank Kenya’s leadership, strategy and long-term growth prospects, as well as our continued commitment to supporting Kenya’s economic development.”

Absa Group intends to maintain Absa Bank Kenya’s listing on the Nairobi Securities Exchange following completion of the tender offer. The Group does not intend, as a result of the offer, to change the bank’s business strategy, executive management team, employee base, or day-to-day operations.

The proposed transaction relates solely to Absa Bank Kenya’s shareholding structure and will have no impact on customers, products, services, branches, accounts or day-to-day banking operations. Absa Bank Kenya will continue to serve customers as normal.

Providing shareholders with a choice

The tender offer will provide eligible shareholders with the opportunity to sell some or all of their shares should they wish to do so. Shareholders who choose not to participate will not be required to take any action.
The offer price will be KES 34,50 per ordinary share, subject to the final approved terms of the tender offer.

Shareholders are encouraged to read the tender offer document in full once it becomes available and to seek advice from their stockbroker, custodian, investment bank, or other professional adviser if they are uncertain about any aspect of the offer.

Regulatory status

The proposed tender offer remains subject to regulatory approvals from the Capital Markets Authority (CMA). The offer will not commence until the necessary approvals have been obtained.

Offer process

Once the tender offer opens, eligible shareholders who wish to participate will be able to submit acceptances through the channels detailed in the tender offer document. These are expected to include electronic application channels, mobile or USSD options where applicable, and physical tender forms through authorised acceptance agents.

The offer is expected to remain open for 30 business days, subject to the final approved timetable. Any changes will be communicated through the appropriate regulatory channels.

 

Important notice

This media release is provided for information purposes only and does not constitute an offer, invitation, recommendation or investment advice. The tender offer will be made solely on the terms and conditions contained in the official tender offer document and acceptance form once issued.

Approval of the tender offer document by the CMA, if granted, should not be interpreted as an endorsement of the offer or a recommendation to Absa Bank Kenya shareholders.

About Absa Group

Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Kenya and South Africa. Absa also has representative offices in Namibia, Nigeria and the United States, a registered financial services entity in the People’s Republic of China, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.

For further information about Absa Group Limited, visit www.absa.africa
Media queries: Daniel Munslow, Managing Executive: Group Communications
M +27 71 347 6915
E daniel.munslow@absa.africa