01

We’re committed to finding local solutions to uniquely local challenges and everything we do is focussed 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 42 000 employees.

Our group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa (Absa Bank), 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.

02

What is our purpose?

To bring your possibility to life

At Absa Group we believe in possibility, in the actions of people who always find a way to get things done. We believe in creating opportunities for our customers to make their possibilities real and supporting them every step of the way. Our group is a future-focused organisation, driven by progress and our desire to thrive in the digital age.

03

How we get things done

All of us at Absa Group are committed to being:

Brave, Passionate and Ready.
  • We are brave

    Bravery is at the heart of humanity’s greatest accomplishments, which is why it’s part of our identity. We’re brave enough to embrace change, to set big goals, to be a bank that makes Africa proud. We take accountability and hold each other to higher standards. Because we know that bravery is how we, and our customers, will achieve the extraordinary.

  • We are passionate

    Through our passion, we are able to build a strong culture that puts people at the heart of everything we do and values people as individuals. We are committed to helping people achieve their potential. It’s the difference between ticking boxes and exceeding expectations, and it’s the reason we’re able to go further for our people, our customers, and for Africa.

  • We are ready

    We’re prepared for the unexpected. We’re ready to grow beyond banking and to ensure that we are future fit. We collaborate, working together to create solutions for people that transcend banking and to compete strongly in our markets.

    We are dedicated to service excellence, bringing our best selves to work, every day.

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