Nairobi, June 21 -- South African companies are betting Sh413 billion on acquisitions in Kenyan blue-chip firms, seeing them as a platform for a bigger foothold in the fast-growing East and Central African market.

Absa Group is the latest to commit billions of shillings on a Kenyan acquisition in the span of seven months, following in the footsteps of Vodacom Group, which is buying an additional 20 percent stake in Safaricom, and Nedbank Group's ongoing acquisition of a 66 percent stake in NCBA Group.

The firms have been attracted by the faster pace of economic growth in the East African economy compared to their home market.

As a regional hub, Kenya offers easy access to cross-border business in countries such as Uganda, Tanzania, Rwa...