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Absa Group to raise stake in Kenyan unit to 72%; Equity Bank reports half year results

  • 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.
  • Equity Group will announce its half year results this morning before markets open.
  • CBK eyes Sh50bn from infrastructure bonds tap sale
    The Central Bank of Kenya has reopened a three-day tap sale of 2 infrastructure bonds it sold earlier this month, looking to raise Sh50 billion.
    Investors offered Sh323 billion in the earlier sale of the bonds with CBK turning down most of the offered funds, accepting only Sh95 billion.
  • Family Bank half year profits rise 39% to Sh2.3bn
    Family Bank half year profits grew 39 per cent to Sh2.3 billion driven by strong growth in operating income which grew 33 per cent to Sh9.6 billion.
    Earlier this year, the mid-tier bank announced plans to list its shares at the Nairobi Securities Exchange by early 2026 after a weak rights issue performance last year.
  • Sidian Bank half year profits surge 355% to Sh1bn.
    Sidian Bank's half year profits rose by 355% to Sh1 billion largely driven by growth in operating income which grew 82% to Sh3.6 billion.
    Loan book saw slight growth, rising 5 per cent to Sh26.9 billion as customer deposits jumped 71 per cent to Sh59.9 billion.
    Centum, through their vehicle Bakki Holdco Limited, hold 14 per cent of the company. This is after selling 64 per cent stake for Sh3.2 billion in 2023 and undergoing a series of dilutions resulting from several rights issues conducted by the bank.
  • HewaTele raises Sh1.36bn from PE firm AfricInvest
    HewaTele, a Kenyan company producing medicinal oxygen, has raised Sh1.36bn in debt from PE firm, AfricInvest.
    The company raised Sh2.5bn in December last year to build a medicinal oxygen production facility at Tatu City.
  • Liberty Kenya Holdings exits Heritage Insurance Tanzania at Sh28M loss
    Liberty kenya Holdings received Sh492 million for their 60% stake in Heritage Insurance Tanzania(net of legal fees and capital gains tax).
    The Group's share of Net Asset Value as at the date of sale was Sh520 million resulting into a loss of Sh28 million.
  • Liberty Kenya Holdings half year profits fall 29.8% to Sh428M
    Liberty Kenya Holdings half year profits fall 29.8% to Sh428M driven by a surge in the volume of motor and medical claims that saw net insurance service results fall 61% from Sh577 million in the first half last year to Sh225 million in the first six months this year.
    The board of directors did not recommend payment of an interim dividend.
  • I&M Group profits grew 36% to Sh8.3bn in H1 2025
    I&M Group PLC posted a 36% jump in profit after tax to Sh8.3bn, driven by growing net interest income and non-interest revenue, and rising contributions from regional subsidiaries.
    H1 2025 Performance Highlights:
    • Net interest income: +24% to Sh20.4bn
    • Non-interest income: +13% to Sh6.95bn
    • Loan loss provisions: +17% to Sh4.1bn
    • Profit after tax: +36% to Sh8.3bn
    • Earnings per share: +37% to Sh4.51
    • Total assets: +4.3% to sh589bn
    • Loan book: +2.1% to Sh290bn
    • Gross NPLs: -1.4% to Sh34.4bn
    The company did not recommend payment of an interim dividend.