Absa joins other SA banks in Kenya expansion (opens original article in a new tab)

Absa is increasing its stake in its Kenyan subsidiary to 85% as part of a broader strategy to expand its presence in East Africa, following similar moves by other South African banks.

• Absa plans to increase its stake in Absa Bank Kenya to 85% in a R4bn transaction
• Absa is expanding its presence in East Africa, following other South African banks like Nedbank and Standard Bank
• Absa aims to grow its pan-African business and reduce over-concentration in South Africa, Ghana, and Kenya