Absa Group Ltd. disclosed a $238.7 million tender offer to raise its holding in Kenyan subsidiary Absa Kenya Plc to 85%. The bank will pay 34.50 shillings per share, a 20% premium to the 30‑day volume‑weighted average price through June 17. The tender, valued at roughly $239 million, represents Kenya’s largest single equity deal this year.

Absa Kenya’s shares jumped up to 12% before settling around 10.5%, while the parent’s Johannesburg‑listed stock slipped 0.1% after the announcement. The Kenyan unit posted a 23% return on equity last year, far above the group’s 14.9% average, and contributed roughly 9% of group earnings in 2025, boosting its market capitalization. Analysts expect the extra stake to lift overall contribution by about 2%.

Regional rivals such as Nedbank have also pursued Kenyan assets, underscoring Nairobi’s role as a gateway to the continent’s fastest‑growing economies. The African Development Bank projects East Africa’s GDP to expand 5.9% this year, outpacing other African regions. By keeping Absa Kenya listed on the Nairobi Exchange, the group preserves local investor access while deepening its exposure to a high‑ROE franchise, significantly for investors.