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Originally published by The Standard Business
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December 15, 2025
12h ago

How Absa aims to cut over-reliance on Kenya as it eyes diversification

How Absa aims to cut over-reliance on Kenya as it eyes diversification

Fihla told investors this concentration poses a risk to the group...

✨ Key Highlights

Absa Group plans a strategic shift to reduce its "over-reliance" on key markets like Kenya, aiming for greater diversification across Africa. The move comes as the Johannesburg-based pan-African lender seeks to mitigate risks associated with overconcentration in a few countries.

  • Absa Group currently earns about two-thirds of its revenue from South Africa and is heavily exposed to Ghana and Kenya.
  • Group Chief Executive Kenny Fihla highlighted that issues in concentrated markets, such as Ghana’s recent sovereign default, directly impact the group.
  • To diversify, Absa will pursue "bolt-on acquisitions" and focus on markets like Tanzania, Uganda, and Mozambique.
  • Despite this, Absa Bank Kenya posted a 15 percent rise in nine-month profit to Sh16.9 billion.
  • Absa Group expects headline earnings growth in the low double digits for FY25 and a return on equity (RoE) of around 15 percent.

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