Absa Group has launched a voluntary share buyback programme, offering eligible shareholders Sh34.50 per share through Safaricom’s Ziidi Trader investment platform.
The offer gives existing shareholders an opportunity to sell their shares back to the company or retain their investment, with the decision entirely at the discretion of each investor.
The share buyback will remain open until 5:00 p.m. on August 11, 2026.
Shareholders can apply through Ziidi Trader
Safaricom announced the offer through its Ziidi Trader investment platform, directing eligible shareholders to submit their responses via the My OneApp mobile application.
To participate, investors are required to open the app, navigate to the Ziidi Trader section and select the Absa Share Offer option before completing the application process.
Those who choose not to participate are not required to take any action and will continue holding their existing shares.
What the share buyback means
A share buyback allows a company to repurchase its own shares from existing investors, often at a premium to the prevailing market price.
The exercise reduces the number of shares in circulation, potentially increasing the ownership stake and earnings per share of investors who retain their holdings.
Companies typically undertake buyback programmes when they believe their shares are undervalued or as part of broader capital management strategies.
Absa strengthens shareholder value
Absa Group is one of Africa’s largest financial services institutions, operating across several sub-Saharan African markets.
In Kenya, the lender operates through Absa Bank Kenya PLC, which is listed on the Nairobi Securities Exchange (NSE).
The current buyback programme forms part of the group’s capital management initiatives aimed at delivering value to shareholders while providing investors with an opportunity to exit their holdings at the offered price.
Deadline set for August 11
Shareholders interested in participating have until 5:00 p.m. on August 11, 2026, to submit their acceptance through the Ziidi Trader platform.
The offer is voluntary, meaning investors can either tender their shares or continue holding them without affecting their ownership.
Safaricom warns against investment scams
Separately, Safaricom has cautioned customers against fraudulent websites and social media pages impersonating its Ziidi Trader investment platform.
The telecommunications company said the legitimate Ziidi Trader service is available only through the Financial Services section of My OneApp, urging investors to verify platforms before sharing personal information or making payments.
Safaricom warned that cybercriminals have increasingly been creating fake investment portals designed to steal customer funds and sensitive account credentials, advising users to exercise caution before accessing any investment service online.
