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December 11, 2018

Absa: Committed to harnessing Africa's growth

Managing Director Kenya Jeremy Awori photo\KARUGA WA NJUGUNA
Managing Director Kenya Jeremy Awori photo\KARUGA WA NJUGUNA

 “There is no better time or place to do business than right now, right here in Africa,” Absa Group told the Star this week.  Absa has just taken over the operations of Barclays Bank in sub-Saharan Africa. 

 Absa points out that the World Bank has revealed that six of the world’s top 10 fastest growing economies are in Africa, and economic growth on the continent is forecast to hit 3.6 percent in 2019/20.

 Growth prospects in East Africa have improved, owing largely to an improved agriculture sector and infrastructure investments. 

Absa is dedicated to harnessing Africa’s growth and is committed to delivering insight driven solutions to power businesses and allow economies to thrive. 

Absa is one of the largest companies on the Johannesburg stock exchange and ranked as the fourth strongest brands in South Africa. Its revenue grow 3% from R18.3bn (Ksh137.8billion) in 2017 to R18.8billion (Ksh141.7 billion) in 2018.

 That financial muscle has enabled Absa to expand its reach on the continent and to provide specialist expertise and innovative solutions to a wide range of clients, across multiple industries.

 Following the Barclays takeover, Absa now has a presence in 12 African countries and over 42,000 staff on the continent. Absa plans to grow further and build on the 100 year African heritage of Barclays. 

Absa operates as a fixed income and foreign exchange market marker across the continent, offering the capability to take corporates from the local to the global stage.

 Barclays Africa has served close to 12 million customers. Now Absa is taking over and promising to fulfil the business needs of that diverse customer and client portfolio.

 “We expect to introduce new products that are relevant to our market and environment, since now our decisions will be more localized. We also look forward to communicating in our local languages, which we could not do in the past,” says Absa’s Kenya Managing Director Jeremy Awori.

 Today Absa offering their clients in Kenya services including business banking, corporate and investment banking, international banking, personal banking, premier banking as well as wealth and investment management.

 Absa prides itself on being a truly African brand inspired by the people. It is here to work for them by committing to be brave, passionate and ready.

 

 

 

 

 

 

 

 

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