Absa Restructures Investment Bank to Sharpen African Focus

0
429
Absa Restructures Investment Bank to Sharpen African Focus
Absa Restructures Investment Bank to Sharpen African Focus

Absa Group Ltd. renewed the senior management of the corporate and investment banking unit to generate more revenue from its operations in Africa. Absa will target customers in mining and minerals, agriculture, energy and utilities, natural resources and consumer businesses when it wants to increase growth. Explaining that he wants to grow more in the area of commercial real estate financing and structural trade finance, Absa CEO Charles Russon said they would have limited presence in Nigeria, a very important country in the African economy, and would try to accelerate their expansion in countries such as Nigeria, Angola and Egypt.

Absa and France’s Societe Generale SA said in January they decided to focus specifically on Chinese companies in the field of wholesale banking on the continent. This initiative will provide more geographic access to the company: SocGen and Absa are currently present in 19 and 12 African countries respectively. Africa has been a key target for capital under China’s Belt and Road Initiative, which aims to develop highways, railways, ports and other trade links.

CENTER FOR AFRICAN STUDIES

Center for Africa Studies (AFRAM) which located in Ankara, is an organization facilitating under the administration of African Affairs Council (AFAC). It makes various researches about Africa to enhance economic and cultural bounds between Africa and Turkey. AFRAM’s publishings has been shared with different institutions as they require to obtain.

AFRICA OBSERVATORY

Africa Observatory is one the publishing of AFRAM and it has been published each two weeks. It has been delivered to different institutions via e-mail.



Photo Source