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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.
  • Crown Paints profit rises 11% to Sh486m
    Crown Paints has reported 11.2 per cent growth in half-year profit to Sh486 million with improved performance attributed to increased sales volume arising from stronger customer demand.
    The board did not recommend payment of an interim dividend.
  • Jumia Group raises Sh6.5bn from IFC, other investors
    Jumia Group has raised Sh6.5 billion ($50 million) from the International Finance Corporation (IFC) and other investors, including major shareholder Axian Group.
    The funding will support Jumia’s next phase of growth, improve efficiency in its core markets and expand its marketplace and logistics network.
    The investors agreed to purchase 9.1 million ADSs at a price of $5.52 per ADS, resulting in expected gross proceeds to Jumia of $50.0 million. The transactions are subject to customary conditions and are expected to close in the second half of August 2026.
    Jumia Kenya accounted for 15 per cent of the group's physical goods Gross Merchandise Value(GMV) in the second quarter of 2026.
  • BREAKINGNEWS
    Sanlam Allianz Holdings (Kenya) posts 7.4% drop in half year profit
    Listed Non-Bank financial services provider Sanlam Allianz Holdings (Kenya) Plc has reported a 7.4 per cent drop in half year profit to Sh124.6 million for the six month period ended June 2026 on the back of higher claims and lower investment returns.
  • BREAKINGNEWS
    KCB Group posts 20.8% growth in HY pre-tax profit to Sh49.3bn
    KCB Group has reported 20.8 per cent growth in pre-tax profit to Sh49.3 billion.
    The board has recommended an interim dividend of Sh3.00 per share to be paid on or about 10th November 2026 to shareholders on the register as of 2nd September 2026.
    Read more: KCB Group half-year pre-tax profit up 21% to Sh49.3bn
  • BREAKINGNEWS
    Co-op Bank posts record Sh18bn half-year profit
    The Co-operative Bank of Kenya has posted an impressive 28 per cent growth in profit after tax to Sh18 billion, from Sh14.1 billion reported a year earlier.
    The lender posted its highest-ever half-year profit, setting a new earnings record on the back of stronger interest income and growth in non-interest income.
    More updates to follow...
  • KCB Group to report HY results tomorrow
    KCB Group is scheduled to release its half-year results tomorrow after the market closes.
    The lender reported a net profit(attributable to shareholders) of Sh31.5 billion for the half year period ended June 2025 and declared an an interim and special dividend of Sh 4.00 per share
  • BREAKINGNEWS
    CBK maintains benchmark rate at 8.75%
    The Central Bank of Kenya maintained its benchmark interest rate at 8.75 per cent, citing rising global energy prices and risks to inflation from the conflict in the Middle East.
    Kenya’s economy remained resilient, with first-quarter growth accelerating to 5.3% and private-sector credit expanding 10.2% in July as lending rates fell.
    The MPC said it would continue monitoring global oil prices and their potential second-round effects on inflation, as well as developments in the domestic and global economies.
    The committee is scheduled to meet again in October 2026.