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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.
  • Cummings C&G opens engine rebuild centre
    Car and General subsidiary, Cumming C&G, opened a Sh30m engine rebuild facility aiming to fill a gap currently served by general repair shops that lack manufacturer accreditation.
  • Co-op bank share price hits Sh21.80
    Co-operative bank share price hit an all time high of Sh21.80 in early trading on Tuesday, valuing the bank at around Sh128bn, its highest ever since listing at the Nairobi Securities Exchange in 2008. The share price later retreated to close the day at Sh21.50 with 5.93 million shares exchanging hands.
    The bank's share price began the year at Sh16.45 and has gained 30.7% this year.
    Co-operative Bank reported a growth of 8.4% in half-year net profit to Sh14.1bn last month.
  • Stanchart Kenya share price recovers slightly
    Stanchart Kenya share price recovered slightly rising by Sh6.25, or 2%, to Sh299 in early trading on Tuesday. The share price plummeted on Monday losing Sh32, or 10%, to Sh292.75 after a supreme court judgment dismissing Stanchart's case against former employees triggered a sell-off.
    The bank issued a statement yesterday after market close, reassuring stakeholders that it had sufficient capital to meet the claim payout, estimated to be around Sh7bn.
  • Ashton Mombasa Apparel EPZ reports a loss of Sh705m
    Ashton Mombasa Apparel EPZ Limited, a company that manufactures garments for export in Kenya, reported a loss of Sh704.8m for the year ended 31 March 2025:
    —Revenue: Sh3bn
    —Loss after tax: 704.8m
    —Assets: +48% to 3.4bn
    The company's parent, Gokaldas, said that Kenya and Ethiopia are emerging as viable low cost apparel manufacturing hubs due to their low labour costs and and abundant, low-to-medium-skilled labour pools.
  • Kenya Re closes 8.4% down after suspension of MD
    Kenya Re was the top loser today, shedding Sh0.29, or 8.4%, after the managing director, Hillary Wachinga, was suspended earlier today by the company. Stanchart Kenya shares dropped by Sh8, or 2.7%, after Supreme Court dismissed their case against 629 former employees.
    Jubilee Holdings share price rose slightly by Sh0.50, or 0.16%, following the news that the company will be selling all its shares in the general insurance business to Sanlam Allianz Proprietary Limited.
  • BREAKINGNEWS
    Stanchart Kenya lose bid to stop Sh7bn payout to retirees
    The Supreme Court has dismissed Standard Chartered Kenya's appeal bid in its dispute with 629 former employees citing lack of jurisdiction. This leaves the bank with an estimated Sh7.09bn payout liability to the former employees.
  • Kenya Re falls 9% to Sh3.12
    Kenya Re share price has dropped by Sh0.34, or 9.8%, to Sh3.12 in early trading after suspending its managing director, Hillary Wachinga, pending internal review.