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Absa Seeks Deals Beyond South Africa for Continental Boost
18 Nov
Summary
- Absa Group aims to build regional footprint with new strategy.
- The bank is actively seeking deals outside South Africa.
- A recent acquisition in Uganda deepens Absa's market presence.
Absa Group Limited is embarking on a new strategic initiative focused on expanding its regional footprint and bolstering its competitiveness across the African continent.
The Johannesburg-based financial institution, which currently operates in twelve African countries, is actively pursuing acquisition opportunities beyond its South African base.
This forward-looking strategy has recently seen Absa conclude a deal to acquire Standard Chartered Plc's wealth and retail banking unit in Uganda, underscoring its intent to deepen its presence in vital markets and diversify its service offerings.
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