Absa Group Limited today announces the appointment of Charles Russon as the new Chief Executive Officer (CEO) of Corporate and Investment Banking, and Paul O’Flaherty as Chief Executive: Engineering Services. Both appointments are effective 5 November 2018.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) remained virtually unchanged at a very weak level of 43.2 points in September 2018. The latest figure dashed any hope that the sharp PMI decline in August was a once-off occurrence.

Absa Group Limited today reported good progress in positioning to deliver on the new corporate strategy it launched in March 2018. The group, previously known as Barclays Africa Group, reiterated its goal to double its share of banking revenues in Africa to 12%.

We live in an increasingly digital and inter-connected world, driven in large part by a collective reliance on mobile phone technology. In South Africa, 38 million of us are mobile users. That is over half the country: 67 percent if we want to be precise.

Following the successful 2017 Money Makeover Challenge which changed the lives of six ordinary South Africans forever, City Press and Absa will be launching the 2018 Money Makeover Challenge with six new contestants on Sunday 14 October 2018.

The country no longer tops the index across all six pillars as it did in 2017, having been overtaken by Kenya on ‘access to foreign exchange’ and by Nigeria in ‘market transparency, tax and regulatory environment’. Nigeria is a new entrant to the top five, as a result of Namibia falling to sixth place from fourth this year.

For the first time, the annual festival will showcase African artists in a luxury experience which will also celebrate the centenary of former president Nelson Mandela. Proceeds raised from the art auction will be donated to the Nelson Mandela Foundation.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) remained virtually unchanged at a very weak level of 43.2 points in September 2018. The latest figure dashed any hope that the sharp PMI decline in August was a once-off occurrence.

Today, Absa, one of Africa’s largest diversified financial services groups, launches their UK office. Officially trading as Absa Securities UK, the move supports the group’s ambition to bring the world to Africa as the preferred corporate & investment banking partner between UK and European investors looking to do business in the continent’s growing economies.

2018

3 September 2018

Absa August PMI

The deterioration was driven by sharp declines in the new sales orders index as well as the business activity index.