Inside Absa plan to acquire more African banks after Uganda, Mauritius buyouts
Absa Bank’s headquarters in Gaborone, Botswana, on May 12, 2020. Absa Group plans to expand its footprint in Africa through acquisitions in its pan-African strategy.
South Africa’s Absa Group has approved a plan to accelerate its pan-African expansion through acquisitions of existing banks and greenfield operations, aiming to grow customer numbers, boost profit margins and reduce concentration risk in Pretoria.
The group says it seeks to expand its foothold on the continent through a “revised” pan-African strategy and an updated operating model designed to position the lender for higher-return, customer-led growth opportunities across Africa.
