Absa has today confirmed its sale of the Edcon store card debtors’ book to RCS Group, a subsidiary of BNP Paribas Personal Finance, subject to regulatory approvals. The transaction includes the sale of Edcon’s store card debtors’ books in both South Africa and Namibia.
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 41.6 index points in September, down from 45.7 in August.
Absa Bank Limited (“Absa”) acted as Joint Global Coordinator, Bookrunner, Mandated Lead Arranger and Facility Agent on the refinance and upsize of Harmony Gold Mining Company Limited’s
Absa Group Ltd., one of the largest financial services providers in Africa, told investors yesterday that its programme to separate from Barclays PLC is 69% complete, with 184 of the 266 projects having been successfully delivered, two years into the three-year programme.
Societe Generale, a leading European bank with operations in 19 African countries, and Absa Group Limited (“Absa”), a leading financial services group in Africa with presence in 12 countries, announced in January a commercial agreement on a combined wholesale banking offer to better serve their clients in their financial needs across the African continent
On 17 February 2017, the Competition Commission of South Africa announced that it had decided to refer several banks (foreign currency traders) to the Competition Tribunal for prosecution. While the list included Absa Bank, the Commission also stated that it would not be imposing a fine or any other sanction against Absa.
Absa Group Limited today announced that it has successfully migrated the banking platform used by six of its African subsidiaries – in Botswana, Ghana, Mauritius, Barclays Tanzania, Seychelles and Zambia – from Barclays Plc’s data centre in the United Kingdom to Absa’s data centre in South Africa.