• Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
  • ‘Give us our land back’- SaleshandoJune 2, 2025
    Demands return of 22 000 ha in Okavango Delta to Ngamiland residents Accuses Masisi govt of land grabbing, calls for restoration of tribal Land SOLOMON TJINYEKA editors@thepatriot.co.bw RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando Mining… Read more: ‘Give us our land back’- Saleshando
  • Mining sector endures worst recessionMay 27, 2025
    Mining shows zero confidence on better business conditions Weaker global demand of rough diamonds trouble the sector Other sectors optimistic about improved conditions in 2025   BAKANG TIRO RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Mining sector endures worst recession
  • Who is the PSP PROTECTING?May 27, 2025
    “She is protecting those facing corruption probe, hence removing DCEC intelligence head”- claim The DCEC recently confirmed that it was investigating some senior govt officials   DITIRO MOTLHABANE RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Who is the PSP PROTECTING?
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Monday, June 2, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Absa Group earnings increase

patriot by patriot
January 25, 2021
in Business
242
0
491
SHARES
1.4k
VIEWS
ShareShareShare

Barclays Bank of Botswana’s parent company Absa Group Limited has recorded a 4 per cent growth in group’s revenue to R75.7 billion (P56.53 billion) for the year 2018.

Absa Group – one of Africa’s largest financial services providers – saw its earnings rise due to essential contribution of African operations to the group’s overall performance.

RelatedPosts

‘Raise capital through BSE’

Mining sector endures worst recession

VP applauds the Northern Trade Fair

The Group registered a normalised headline earnings increase of 3% to R16.1 billion compared with 2017 and revenue increase of 4% to R75.7 billion. Shareholders will receive a final dividend of R 11.10 per share, which is a 4% increase from the final 2017 dividend.

Rene Van Wyk – Acting Absa Group CEO – said 2018 was a year of almost unprecedented activity for the Group as the business was re-set as an independent bank after Barclays Private Limited Company reduced its shareholding to a minority stake in 2017.

Additionally, in 2018 Absa Group announced a new strategy to reposition itself as an independent African banking group focused on growth and launched a new operating model to structure the business for delivery against the new strategy.

“In June the Absa Group achieved regulatory deconsolidation from Barclays PLC, which meant that regulators no longer regard the two businesses as a consolidated entity. With such major changes bedded down in 2018, the framework for the business has been reset. The strong leadership team and structure that was put in place over the past year can now deepen the efforts within their business units to deliver against our ambitious growth strategy,” he said.

The impressive performance of the Group was also banked on the latter ‘stepping up of its digital offerings amongst others; Chat Banking on WhatsApp launched, enabling customers to conduct basic  banking on one of the world’s most-used chat platforms, a world first.

A mobile app called Timiza was also launched in Kenya, allowing customers to save and borrow money without having to visit a branch. Absa was also first in South Africa to launch Samsung Pay.

Outgoing Barclays Botswana Managing Director, Reinette van Der Merwe, said the transition by Barclays to a new brand in the near future presents the unique and exciting opportunity to leverage the rich African rich market and deep understanding of the local market to drive relevant initiatives that can unlock Botswana’s potential and support its growth.

Locally, the Barclays Bank according to its spokesperson Spencer Moreri will announce its financial results for the year 2018 on March 21.

Moreri, when quizzed on the in-coming MD, noted that an official announcement will be made soon with regards to that. Internal company staff was recently informed that Keabetswe Pheko–Moshagane will be assuming duties as new MD.   

Related

Tags: ABSA

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

BancABC increases footprint

Next Post

Knives out for BR Properties CEO

Related Posts

‘Raise capital through BSE’
Business

‘Raise capital through BSE’

June 2, 2025
Mining sector endures worst recession
Business

Mining sector endures worst recession

May 27, 2025
VP applauds the Northern Trade Fair
Business

VP applauds the Northern Trade Fair

May 26, 2025
ALC’s STRATEGIC investment
Business

ALC’s STRATEGIC investment

May 19, 2025
Stanbic boosts green economy
Business

Stanbic boosts green economy

May 12, 2025
STRONG, FOCUSED FORCE OF NATURE
Business

STRONG, FOCUSED FORCE OF NATURE

May 7, 2025
Next Post
Knives out for BR Properties CEO

Knives out for BR Properties CEO

Please login to join discussion
  • Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
  • ‘Give us our land back’- SaleshandoJune 2, 2025
    Demands return of 22 000 ha in Okavango Delta to Ngamiland residents Accuses Masisi govt of land grabbing, calls for restoration of tribal Land SOLOMON TJINYEKA editors@thepatriot.co.bw RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando Mining… Read more: ‘Give us our land back’- Saleshando
  • Mining sector endures worst recessionMay 27, 2025
    Mining shows zero confidence on better business conditions Weaker global demand of rough diamonds trouble the sector Other sectors optimistic about improved conditions in 2025   BAKANG TIRO RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Mining sector endures worst recession
  • Who is the PSP PROTECTING?May 27, 2025
    “She is protecting those facing corruption probe, hence removing DCEC intelligence head”- claim The DCEC recently confirmed that it was investigating some senior govt officials   DITIRO MOTLHABANE RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Who is the PSP PROTECTING?
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?