- CEO
- Andile Kenneth Livuyo Fihla
- Full Time Employees
- 37,033
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- Absa Towers West Johannesburg GT South Africa 2001
- IPO Date
- May 31, 2006
- Business
- Absa Group Limited Absa Group Ltd operates as a diversified financial services conglomerate headquartered in Johannesburg, South Africa, and listed on the Johannesburg Stock Exchange. Founded in 1986 through the merger of several South African banks including United Building Society Holdings, Allied Bank, Volkskas Bank Group, and interests of the Sage Group, the group provides a comprehensive suite of products and services encompassing personal and business banking including credit cards, deposits, mortgages, vehicle and asset finance, and residential property-related solutions; corporate and investment banking featuring advisory services such as mergers and acquisitions and equity capital markets, financing solutions including leveraged capital markets, debt capital markets, project finance, liquidity management via overnight and term deposits, money market funds, trade finance with letters of credit advising, negotiation, confirmation, and discounting; wealth and investment management; as well as life and non-life insurance products and bancassurance. The company maintains full banking operations across 10 Sub-Saharan African countries including South Africa, Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, Tanzania, Uganda, and Zambia, with representative offices in Namibia and Nigeria, international offices in London and New York City, and a technology support office in the Czech Republic; it serves retail customers, businesses, corporates, financial institutions, and high-net-worth individuals through a regionally coordinated model emphasizing local regulatory expertise, extensive branch networks, digital platforms, and connectivity channels like internet, SWIFT, and host-to-host systems. In recent developments, Absa consolidates its South African retail and business banking operations into a single integrated unit as of June 2025 to enhance customer focus and execution speed, following a reversal of prior segmentation plans; appoints Kenny Fihla as Group Chief Executive Officer effective June 17, 2025, to drive modernization through improved mobile and digital capabilities, artificial intelligence integration, enhanced rewards programs, financial coaching tools, and pan-African expansion including potential mergers in Tanzania and entry into larger untapped markets; onboards new strategic automotive partners in 2024 to bolster its financing portfolio; and announces executive leadership changes in September 2025 to streamline Pan-African operations, simplify structures, and leverage data and technology for client value. Absa Bank Limited serves as its flagship subsidiary in South Africa with full ownership, alongside majority or full stakes in regional entities such as Absa Bank Botswana (67.8%), Absa Bank Kenya (68.5%), and others, positioning the group as one of Africa's largest financial services providers with total assets exceeding R1.9 trillion as of June 2024.