Safaricom PLC has announced a share buyback offer for Absa Group shares, providing existing shareholders an opportunity to sell their holdings at KSh 34.50 per share.
The offer is accessible through Safaricom’s investment platform via the My OneApp application. Shareholders can participate by navigating to the Ziidi Trader section and selecting the Absa Share Offer option.
Shareholders have until 5:00 PM on August 11, 2026, to decide whether to accept the buyback offer. Participation is voluntary, and those wishing to retain their shares do not need to take any action.
Understanding the Share Buyback
A share buyback involves a company repurchasing its own shares from shareholders, often at a premium. This strategy can indicate that the company believes its shares are undervalued and can reduce the number of shares in circulation, potentially increasing the ownership percentage of remaining shareholders.
About Absa Group
Absa Group is a leading diversified financial services provider operating across sub-Saharan Africa. In Kenya, it operates as Absa Bank Kenya PLC, which is listed on the Nairobi Securities Exchange.
