01

We’re committed to finding local solutions to uniquely local challenges and everything we do is focused on adding value. To this end we offer all our clients across the continent a range of retail, business, corporate and investment, and wealth management solutions as well as ensure a positive impact in all the countries where we operate.

We’re a truly African brand, inspired by the people we serve and determined to always be brave, passionate and ready so that we can make Africa proud.

Absa Group Limited is listed on the JSE and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 41 000 employees.

We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (Barclays Bank in Tanzania and National Bank of Commerce), Uganda and Zambia. We also have representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia. We have launched our international presence in London operating as Absa Securities UK and we are pursuing a corporate strategy to procure licences in the United States.

02

What is our purpose?

Our purpose is bringing possibilities to life. Possibilities are abundant. Possibilities are generous. Possibilities connect those with the passion to create a shared future.

Our story is one of people coming together to reflect on what matters most and giving voice to their hopes and aspirations. Collectively our journey is one of becoming customer obsessed, acknowledging the strength of our people and delivering results sustainably, with an African heartbeat.

With purpose comes responsibility. Possibilities exist in every moment. Moments become meaningful experiences for ourselves and others when we align our values to our actions. This is how we bring possibilities to life.

03

Our Values

  • We drive high performance to achieve sustainable results

    We play to win and are accountable for results.
    We innovate, we are decisive, and we act quickly.
    We learn from our failures, we are bold enough to change

  • We are obsessed with the customer

    We are curious, we anticipate the customer’s needs.
    We each take ownership of delivering the “One Absa” customer experience.
    We outperform by going beyond customer expectations.

  • Our people are our strength

    We integrate diverse perspectives to invent the future.
    We collaborate with courage, honesty and powerful energy.
    We trust, value and grow our people to achieve their full potential.

  • We have an African heartbeat

    We deliver a uniquely Absa experience, across Africa.
    We co-create across Africa to deliver better solutions.
    We actively engage our communities to bring people’s possibilities to life.

04

Empowering communities

We aim to play a shaping role in society and be an active force for good by:

Earning trust

By acting with fairness and providing just outcomes for all stakeholders and becoming known for reliability by delivering consistently on our promises

Shaping societies
 

By contributing significantly to the communities in which we operate, thereby enhancing the continent’s economic growth and development

Promoting intergenerational sustainability

By being accountable for our impact on the environment and building viable communities by evolving as their needs change

Driving thought leadership

By providing insights that help the industry to develop new and innovative ways to solve society’s challenges

In South Africa we embrace the principles of the Broad-Based Black Economic Empowerment (BBBEE) Amendment Act, which serves as the basis for the Department of Trade and Industry’s Financial Sector (FS) Code.

Our long-standing commitment to transformation goes beyond the Financial Sector (FS) Code and we believe it has the following core components:

  • Investing in economic growth and entrepreneurs, creating sustainable jobs and reducing inequality
  • Strengthening South Africa’s competitiveness by developing each demographic's skills base
  • Using intellectual, financial and human capital to improve our communities
  • Transforming our own organisation through a fair, equal-opportunity, values-based culture 
  • Addressing historic parities by enabling black people, women, youth and people with disabilities to sustainably and independently participate in the economy

Transition to the Amended Financial Sector Code

Since 2013 we have been reporting our transformation progress against the FS Code, gazetted in 2012. It was subsequently aligned with the Amended Generic Codes of Good Practice, and the Amended FS Code was gazetted (and became effective) on 1 December 2017. Other than supplier development, the code has the same elements, however, certain changes within the elements do not allow for year-on-year comparison.

Other than higher targets, key changes include revised qualification points required to attain each BBBEE contributor level, priority elements and the discounting principle effect – those elements that have minimum points requirements to avoid a level discount, a new measurement, supplier development and heavier weightings for each FS Code element.

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05

Our group legal structure

See our latest

Consolidated and separate financial statements for further information on subsidiaries and consolidated structured entities