Nairobi, July 9 -- More than Sh21 billion in extra dividends will be shipped to South Africa as Johannesburg-based multinationals buy additional stakes in Safaricom, Absa Bank Kenya and NCBA Group.

Safaricom's parent Vodacom Group last month completed the acquisition of an additional 15 percent stake in the company for Sh204.3 billion.

Nedbank has bid for 66 percent stake in Kenya's NCBA as part of its regional expansion, while South Africa's Absa Bank is buying an additional 16.5 percent stake in its Kenyan business through a tender offer.

The additional stakes are set to offer the three South African multinationals at least Sh21.5 billion in additional dividends from Nairobi bourse-listed firms, going by the most recent declared payo...