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.


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.

Absa Corporate and Investment Banking (CIB) has been part of the recently announced Vodacom YeboYethu BEE deal in which it acted as the sole financial advisor to JSE listed empowerment group YeboYethu.

Much has been said about the African growth story and the opportunity our continent presents. But the role of financial institutions in securing that growth cannot be underplayed.

Absa Group Limited reported an increase in earnings, revenue and dividend for the first half of 2018 today. The group reported its first set of financial results as `Absa Group’ after being renamed on 11 July this year as it separates from the international Barclays PLC group.

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%.