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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.
  • Family Bank surges 8% in early trading to Sh34
    Family Bank, which listed in June by introduction at Sh 18, has surged 8 per cent today in early trading to Sh34. The stock has risen 42% from its first close of Sh24 after listing.
  • SanlamAllianz Life Insurance Kenya launches Flexi Future Plus
    SanlamAllianz Life Insurance Kenya has launched Flexi Future Plus, a new savings and life insurance solution designed to help Kenyans build wealth confidently while protecting what matters most.
    Flexi Future Plus is a goal-based endowment plan that enables customers to save towards important life milestones such as education, retirement, purchasing a home or achieving other long-term financial goals.
    The product combines guaranteed maturity benefits with life insurance protection, giving customers both financial growth and peace of mind. Flexi Future Plus allows customers to choose a policy term of between five and seventeen years, make regular or single premium contributions and receive their maturity benefit either as a lump sum or in up to three annual instalments.
    Customers can also tailor their cover with optional benefits, including critical illness, permanent disability, retrenchment or family protection, ensuring they remain financially secure through life's changing circumstances.
  • Lebanese firm sues Kenya Pipeline for Sh10.9bn
    Kenya Pipeline Company (KPC) has disclosed that contractor Zakhem International Construction has filed a lawsuit seeking $84.1million (about Sh10.9 billion) over Line 1 Replacement Project.
    The claim comprises $19 million in alleged extension-of-time costs and $65.1 million in interest on delayed payments, with the case filed at the High Court Milimani under HCCCOMM E346 of 2026 on May 29, 2026.
    KPC said it has received preliminary legal advice indicating it has credible grounds to contest the claim and will vigorously defend the suit.
    The company told shareholders and investors that the litigation does not affect its operations, strategic focus or financial position, but cautioned investors to exercise care when dealing in its securities pending the outcome of the case and any further announcements.
  • Electric mobility startup Spiro secures $7m debt facility for fleet expansion
    Electric mobility startup Spiro has raised a $7 million (Sh903 million) debt working capital facility from Nithio's FAIR fund.
    The funds will be used to finance the expansion of Spiro's electric motorcycle fleet and battery infrastructure. The debt facility provides working capital to scale operations as the company grows its presence in the electric mobility sector.
    Nithio's FAIR fund specializes in financing clean energy projects in emerging markets.
  • CMA issues six licences to financial intermediaries
    The Capital Markets Authority (CMA) has issued six licenses to banks and financial intermediaries as investment bank, stockbroker, investment advisers and intermediary service platform provider as it aims to deepen Kenya's capital markets.
    The firms licensed include:
    • I&M Capital Limited (Intermediary service platform provider)
    • Horizon Africa Capital Limited (Investment advisor)
    • Arion Capital Limited (Investment advisor)
    • Zamara Actuaries, Administrators and Consultants Limited (Investment advisor)
    • Green Margin Capital Limited (Stockbroker)
    • Rock Advisors Limited ( Investment Bank)
  • KenGen shares fall 5% as net profit drops 20% to Sh4.2bn
    KenGen's share price opened trading today down 5 per cent following the release of financial results showing half-year net profit fell 20 per cent to Sh4.2 billion.
    The profit drop was driven by lower finance income and a higher income tax expense. The Sh4.2 billion profit represents a significant decline from the previous period's earnings of approximately Sh5.3 billion.
  • Sasini up 10 per cent after Sh117m profit
    Sasini share price has surged in early trading rising 10 per cent to Sh19.90 after the company reported a net profit of Sh117 million for the financial year ended September 30, 2025.
    The share price touched a high of Sh29.95, with only 100 shares trading at that price.