Under the exemption,
SAHL first announced the intention to purchase shares from willing shareholders in
SAHL had acquired 48.4 million shares, translating to a success rate of 82.0 per cent hence the application for an extension.
The move will be the second time SAHL requests an extension to purchase
SAHL's shareholding has since increased to 72.3 per cent as of
The move by
Analysts from Cytonn Investments say they expect the move to boost investor confidence in the Kenyan Banking Sector, which has continued to rally from a harsh business environment following the COVID-19 pandemic.
During the period, return on average equity increased to 15.8 per cent from 12.0 per cent.
"In our view, we expect further activity share repurchase and buyback activity in the bourse from companies whose prices and valuations are currently low."
The analysts also said that the move by the CMA to allow for exemptions from making full takeovers is also commendable as it allows for investors to increase their shareholding by carrying out on-market trading to acquire a higher stake to having to acquire the entire entities.
Contribution to the Kenyan society
In 2021, the bank revealed it had massively contributed to driving
In a report, the bank said it restructured loans to the value of KSh 40 billion, extended repayment holiday to 7,203 clients and lowered interest rates saving customers KSh 665million.
On infrastructure, trade and investment, the bank said it issued KSh 1 billion as guarantees in support of transportation infrastructure development.
In the field of trade and investment, the bank provided unsecured short-term financing for trade to
"Over the last year, the bank has been on a deliberate journey to improve the livelihoods of many through the launch of the
The bank's programme seeks to position Kenyan businesses for success by providing individuals and enterprises with digital literacy and career development training, as well as funding and access to job markets.
So far, over 21,000 SMEs and individuals have benefited from the programs and are able to position their businesses better in a digital world.
Through their
The bank partnered with Microsoft and established the e-learning platform for community training and up-skilling people who have lost jobs due to COVID-19.
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