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Absa Group to raise stake in Kenyan unit to 72%; Equity Bank reports half year results
- Equity Group Holdings to release its half year earnings report this morning before markets open.
- Absa Group will raise its stake in Absa Bank Kenya to about 72 per cent after buying 189.4 million shares in a tender offer at Sh34.50 each.
- Minority shareholders tendered 189,981,668 shares, of which 189,380,644 were accepted, representing about 21 percent of the maximum number of shares targeted in the offer.
- BREAKINGNEWSEquity Group half-year profits jump 32% to Sh45.5bnEquity Group Holdings has reported 32 per cent growth in profit after tax to Sh45.5 billion for the half year period ended June 2026 driven by strong growth in income.Net interest income grew 17 per cent to Sh69.3 billion while non-funded income surged 36 per cent to Sh55.6 billion.Earnings per share grew to Sh11.61, up from Sh8.82 reported during the same period last year.More to follow
- Absa Group falls short in bid to raise Absa Kenya stakeAbsa Group Limited has fallen well short of the target it set for a tender offer to minority shareholders of Absa Bank Kenya PLC, picking up only about 21 per cent of the shares it had offered to buy, lifting its stake in the Kenyan unit up to roughly 72 per cent.The Johannesburg-based banking group announced on Tuesday that it received and accepted valid tenders from 2,045 shareholders for a combined 189,380,644 ordinary shares in Absa Bank Kenya PLC, at a price of Sh34.50 per share, translating into a payout of roughly Sh6.53 billion to participating investors.Shareholders tendered a total of 189,981,668 shares, of which Absa Group accepted 189,380,644, falling well short of the maximum size of the offerAbsa Group will hold 3,910,196,644 ordinary shares in its Kenyan unit, up from the 3,720,816,000 shares it held before the offer began, once the settlement process and share transfer are complete.The additional shares purchased under the tender will raise Absa Group's stake in the bank from roughly 68.5 per cent to about 72 per cent of Absa Bank Kenya's issued ordinary share capital.
- Tata Chemicals Magadi seeks resumption of operationsTata Chemicals Magadi says it has complied with all Ministry requests following the 28 July suspension, but warns the prolonged closure is hurting 500 employees and 30,000 community members who depend on its activities.The company says it has submitted all information requested by Ministry of Mining in connection with the suspension of its mining operations.Mining operations were suspended on July 28, 2026 over alleged non-compliance with mining laws.
- Standard Group secure exclusive EPL rightsStandard Group has secured exclusive radio broadcast rights for the 2026/2027 English Premier League season in Kenya, warning that unauthorized broadcasts will face legal action.The media firm will air the matches on Radio Maisha, Spice FM, and Berur FM.
- Quickmart opens two new 24-hour outletsQuickmart Supermarkets has opened two outlets in Thika and Syokimau in a bid to tap into customers in the wider Nairobi Metropolitan area.The supermarket chain has opened 12 new outlets in the last 12 months, five of which have been within the wider Nairobi Metropolitan region.With the new additions, Quickmart now operates 72 stores countrywide, trailing Naivas which operates 114 outlets.
Branch Store number Makongeni, Thika 72 Diamond, Syokimau 71 Section 58, Nakuru 70 Adams, Ngong Road 69 State House, Nakuru 68 Elgon View, Eldoret 67 Likoni-Ukunda 66 Kenyatta Avenue, Nakuru 65 Kitengela 64 Banana Road, Ruaka 63 Circle Mall, Kilimani 62 Joska 61 Note: Quickmart stores opened in the last 12 monthsCompiled by: Pesa Wall - Liberty Kenya half-year profits fall 46% to Sh231mLiberty Kenya Holdings Plc has reported 46 per cent drop in half year earnings to Sh231 million due to lower investment income.Management attributed the decline to lower investment income which is a significant contributor to the group’s earnings.Net investment income declined by 22.6 per cent to Sh1.68 billion, down from Sh2.17 billion reported during the same period last year.The board did not recommend the payment of an interim dividend.Read more on Liberty Kenya half year results 2026:
- Nation Media Group half-year loss widens to Sh357mNation Media Group’s net loss widened to Sh357 million in the first half of 2026, compared to Sh41.7 million a year earlier, on lower print revenues.The Group’s turnover declined by 4.8 per cent to Sh2.85 billion due to lower print revenues.The board did not recommend the payment of an interim dividend.Nation Media Group said it will continue to pursue growth in broadcasting, thought leadership and experiential events while maintaining a presence in commercially viable print media.
