It is impossible to mention the most valuable brands in South Africa without mentioning Absa.
Today, it is present in 12 African countries.
Also, there are offices in the US and UK.
Image: twitter.com, @ewnupdatesSource: Twitter
With a top-class customer-based service, the question posed by many individuals is: who owns Absa Bank?
Absa Group Limited owns Absa Bank.
It is one of the most prominent financial organisations in South Africa.
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With its headquarters in Johannesburg, South Africa, the bank has holdings in Tanzania and Mozambique.
One year after the merger, Absa Group had purchased the major part of Bankorp Groups shareholding.
At that time, the group had three major operating divisions.
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This offer represents 10% of Absas ownership.
With this gesture, the company has been able to convince many of their dedication to the African community.
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What is the relationship between Absa and Barclays?
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Subsequently, Absa was renamed Barclays Africa Group Limited.
Does Barclays still own Absa?
Today, Barclays PLC still owns a significant share in the bank.
Image: twitter.com, @AbsaUgandaSource: Twitter
Nevertheless, they are no longer in charge as Barclays Africa is now known as Absa Group Limited.
However, Barclays PLC still has a 14.88% stake in the company.
Public Investment Corporation follows this with a 6.53% stake.
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This began with a new trading name and shared code on the JSE (Johannesburg Stock Exchange).
According to the group, the rebranding process extendedto its other branches in Africa.
In 2018, a new growth policy was initiated by the group.
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This mindset will be reciprocated in other branches like Kenya, Botswana, Ghana, Uganda, and Tanzania.
The logo is a lower case absa in the middle of a red ring.
The new logo was launched together with the new term,Africanacity.
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The new-look is also reflected in the Absa organisational structure.
The group has just recently appointed Daniel Mminele asthe CEO.
The Ex-Deputy Governor of South Africas Reserve Bank is the first black CEO of the company since inception.
How much is Absa worth?
Even before its spell with Barclays, the organisation has had a reputation for stability.
As of 2018, Absa bank limited was valued atR18.9 billion.
This was according to the Brand Finance report.
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People and companies can connect with their bank through physical and technological means.
Some of its services include:
Absa contact
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Indeed, a world-class financial institution must be stable.
Even though Absa has gone through different brand stages, its quality service is never in question.
It is believed that the bank will remain like this in the coming years.
He graduated with a degree in Mass Communication from The Polytechnic, Ibadan, Nigeria.
He has curated the facts and life hacks category since 2018.
Dr Favour is the author of several books available on Amazon.
He currently lives in Nigeria.
Email: favouradeaga@gmail.com
