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24 February 2020
CDC unveils further US$100 million trade finance agreement with Absa in major boost to trade finance in Africa
CDC Group plc (“CDC”), the UK’s impact investor for Africa and South Asia, has today announced at the Africa Investment Summit a US$100 million trade finance loan with Absa Bank Limited (Absa), one of Africa’s largest diversified financial services groups.
Absa Group Ltd, one of the largest diversified financial service providers in Africa, has concluded an agreement with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, helping Absa expand financing across seven countries in Sub-Saharan Africa.
Absa announced the appointment of Aaron Daniel Mminele as Group Chief Executive (GCE) of Absa Group, effective from 15 January 2020.
Absa and The Digital Academy hosted a technology showcase on 31 January 2019 to unveil solutions and applications built by The Digital Academy interns as part of a six-month programme aimed at helping to bridge a skills shortage in the technology and banking sectors.
Absa has partnered with Tshimong Media to produce “The Interchange”, a podcast series on Cliff Central which aims to stimulate critical thinking skills among young South Africans through the power of debate.
We have agreed to acquire Societe Generale’s derivatives clearing, custody and trustee services business in South Africa, subject to regulatory approvals. We have signed a memorandum of understanding to cooperate in offering services to clients in 27 countries in Africa.
Absa Group Limited, one of Africa’s largest financial services providers, reported a 3% increase in earnings for the first half of 2019 as its retail unit in South Africa gained market share, mitigating the negative effects of a difficult economy.
Absa Bank Limited (the “Borrower” or “Absa” or the “Bank”), Bank of America Merrill Lynch and Standard Chartered Bank (together the “Bookrunners” and “Coordinators”) are pleased to announce the signing and successful closing of a US$ 500,000,000 Term Loan facility
Absa Group was recognised in the “Africa’s Best Transformation” category at the prestigious Euromoney Awards for Excellence 2019 that was held at a ceremony in London last night.
Absa Group Reports Increase in 2018 Earnings; Resets for Delivery Against Strategy
