The seasonally adjusted Absa Purchasing Managers’ Index (PMI) fell sharply to 50.7 index points in April 2022

Johannesburg, 13 April 2022: Proudly African bank Absa, in partnership with the South African National Association for the Visual Arts (SANAVA), officially opened applications for the 2022 Absa L’Atelier, inviting artists from across the African continent to enter.

Absa Group has signed agreements with the Meltwater Entrepreneurial School of Technology (MEST) in Ghana, the Cape Innovation and Technology Initiative (CiTi) and Grindstone in South Africa to support and collaborate in initiatives that are aimed at growing emerging technology and other businesses in Africa.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) increased for a third consecutive month to reach 60.0 in March, up from 58.6 in February. The sustained improvement in the headline PMI bodes well for the continued recovery of the manufacturing sector after it was dealt a blow in the third quarter of last year.

Absa Group today announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately.

Absa Group headline earnings more than doubled to R18.6 billion in 2021 (R8 billion in 2020), well in excess of 2019 earnings, as pre-provision profit increased and as the impairments charge reduced substantially

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) recovered from December’s loss of momentum and rose to 57.1 index points in January 2022, following a dip to 54.1 in December 2021. The current level is in line with November’s reading

Proparco is collaborating with South Africa's third largest bank by assets, Absa Bank Limited, by granting it a senior loan of $20 million to contribute to its support plan for Corporate SMEs in the context of the continuing Covid-19 crisis.

Absa expands precious metal investing options in Africa

The latest Absa Homeowner Sentiment Index (Absa HSI) indicates that confidence in the South African property market was at 84% in Q3, recovering to Q1 levels after the dip in Q2 in reaction to acts of violence and destruction to property at the beginning of July 2021.