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 (the “Facility”).
Absa Group Ltd., one of the largest financial services providers in Africa, told investors yesterday that its programme to separate from Barclays PLC is 69% complete, with 184 of the 266 projects having been successfully delivered, two years into the three-year programme.
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) erased most of last month’s gain and fell to 45.4 index points in May from 47.2 points in April. Barring a drop to 45 points in March, this is the weakest level since October 2018.
Societe Generale, a leading European bank with operations in 19 African countries, and Absa Group Limited (“Absa”), a leading financial services group in Africa with presence in 12 countries, announced in January a commercial agreement on a combined wholesale banking offer to better serve their clients in their financial needs across the African continent.
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose by 2.2 points to reach 47.2 index points in April. This was the first increase after three months of declines in the headline PMI. However, the PMI remains below the neutral 50-point mark and is more or less in line with the average recorded in the first quarter of 2019. This means that factory conditions stabilised at a fairly depressed level at the start of the second quarter.
After six months of financial boot camp, 27-year old Samkelisiwe Ngubane successfully overhauled her life and was named the overall winner of the Absa/City Press Money Makeover Challenge.