We have noted the Central Bank of Kenya’s press statement this morning in which it announced the suspension of Absa Bank Kenya's foreign exchange dealer license from 9 April 2020 until 15 April 2020.

Absa Purchasing Managers’ Index for March 2020 averaged at 45.9 index points, compared to 47.6 in the fourth quarter of 2019.

We want to assure our customers at Absa that we understand the impact the COVID-19 may have on your financial position, and we want to offer a payment relief during this period.

Absa has donated an initial R15m towards various initiatives aimed at dealing with the impact of COVID-19 in South Africa.

Absa has implemented a number of interventions in all our Absa offices, including branches, to ensure the safety of our staff and customers.

This morning (12 March 2020) Absa became aware of a contractor from Spain, who has been on our premises since Tuesday, 10 March 2020, who reported to our health clinic at Absa Towers West in Johannesburg, complaining of flu-like symptoms. Based on his condition, our medical team immediately assisted him to undergo the necessary testing procedures for COVID-19 in line with national guidelines, and recommended immediate self-quarantine.

Absa Group Ltd. reported improving revenue growth for the 2019 financial year, with headline earnings growing slightly

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.