Absa targets 85% in Kenya as JSE edges higher

The JSE All Share rose 0.106% to 112730.22 on June 22, while the Top 40 added 0.1568% to 104422.19. Absa Group plans to raise its stake in its Kenyan unit to 85% through a 3.93 billion rand tender, equivalent to $238.6 million, according to Moneyweb, CNBC Africa and The Africa Report. Among stocks, Sibanye Stillwater was up 8.7% on June 16, while Vodacom highlighted a 23.6 billion rand network investment, reports The Star. On the corporate front, Standard Bank issued a voluntary five-month trading update on June 22, Gold Fields clarified media reports on the Tarkwa mining lease renewal process, and Harmony Gold reported a fatal incident at its Moab Khotsong mine, according to JSE filings.