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The seasonally adjusted Absa Purchasing Managers Index (PMI) declined for a fourth consecutive month to reach 44.3 in February 2020.

The Annual Meeting of the World Economic Forum (WEF), held in Davos each January, is often seen as a gathering of the world's elite and decision makers, who come together to find solutions to pressing problems they may never have to deal with. Yet, it is so much more than that. The gathering, which celebrated its 50th anniversary this year, provides a platform where ideas are exchanged, networks forged, and commitments made.

According to Stats SA, 63.4% of South Africa’s unemployed people are between the ages of 15 and 34, and more than half of South Africa’s youth say that they don’t have the financial means to pay for tertiary tuition. Eighteen percent of 18-24 year olds say that they don’t attend any form of post-matric education because their poor school level performance prevents them from participating. It’s clear: the burden of South Africa’s heart-breaking unemployment rate rests on young people.

Absa Group Limited’s Barclays-branded subsidiaries in seven African countries - Botswana, Ghana, Kenya, Mauritius, Seychelles, Tanzania and Zambia - were renamed as ‘Absa’ today, completing the name change across the continent. Absa Group’s subsidiaries in Uganda and Mozambique were renamed in November.

In the lead up to the 17th edition of the Absa Cape Epic, Africa’s Untamed Mountain Biking (MTB) Race, Absa will continue to entrench its purpose of bringing possibility to life by launching an initiative called #SheUntamed. #SheUntamed is a programme designed to improve women’s access to the sport of MTB, a programme for women who are passionate about MTB, cycling and living an active lifestyle.

Absa Group Ltd. and The Digital Academy today showcased solutions designed to solve everyday problems, developed by students at the academy. A course in software development is offered as a collaboration between Absa and The Digital Academy.

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.

The seasonally adjusted Absa Purchasing Managers Index (PMI) continues in a downward trend