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Absa Group

absa.africa

Founded Year

2018

Stage

Loan | Alive

Total Raised

$124M

Last Raised

$124M | 6 mos ago

About Absa Group

Absa Group is an African financial services group, delivering products and services across personal and business banking, corporate and investment banking, wealth and investment management, and insurance. The company was founded in 2018 and is based in Johannseburg, South Africa.

Headquarters Location

Johannesburg, 2001,

South Africa

+27 (0)11 350 4000

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Latest Absa Group News

South African Factory Managers Upbeat on Better Global Prospects

Feb 1, 2023

India to Invest $4.3 Billion for Energy Transition and Security Adani Flagship Falls After Last-Minute Completion of Share Sale Virgin Money Predicts Muted Mortgage Volumes on Housing Slowdown India Budget to Target Growth, Smaller Fiscal Gap Amid Adani Woes Tiny Radioactive Capsule Found in Australia After Desert Search Factories in Southeast Asia Are Firing Up as China Reopens South African Factory Managers Upbeat on Better Global Prospects Asia Stocks to Rise as US Shares Rally Before Fed: Markets Wrap Bestway Increases Stake in Sainsbury’s Days After Taking Holding Hong Kong’s Economy Contracts in 2022 on Covid, Slowing Demand Renault, Nissan Boards Set to Meet to Greenlight Alliance Revamp Housing Slump Deepens From US to China in Risk to Global Growth European Gas Swings as Cooler Weather Approaches Next Week Porsche Invests in ABB’s Electric-Vehicle Charging Business Bond Bulls Are Waiting for the Next Housing Market to Crack Debt Swaps Called Out by Barclays Analysts Ignite ESG Debate Adnoc Reveals Record Income for Gas Business Ahead of IPO Adani Stock Sale Scrapes Through With Less Demand Than Peers Modi Plans Record Bond Sales to Finance India Budget Deficit Rate hike pause puts retirement investors in a sweet spot Experts explain how to cope with money stress REITs provide safer alternative for wannabe landlords: Dale Jackson 6 TFSA myths that could dampen tax savings How pay transparency may affect your job search or raise 50 guests or less: Couples opt for micro-weddings amid inflation It's time for retirement investors to act their age: Dale Jackson Consumer insolvencies rose 16 per cent year over year in November 3 risk-free ways to boost your net worth in 2023: Dale Jackson How to start the new year off on the right financial foot How to take stock of your subscriptions Canadians focused on repaying debt in 2023: CIBC survey Retirement: 6 ways to make extra money 81% of Canadians are worried about a recession in 2023: survey High interest rates breathe new life into TFSA ​Bankruptcy: Experts explain how to rebuild credit How to pay down debt quickly according to the experts Experts share tips for young Canadians finding themselves in debt for the first time 4 key dates for investors to mark in their 2023 calendars Hong Kong’s Economy Contracts in 2022 on Covid, Slowing Demand China’s Economic Recovery Still Patchy Despite Brighter Outlook Housing Slump Deepens From US to China in Risk to Global Growth Bond Bulls Are Waiting for the Next Housing Market to Crack UK House Prices in Longest Slump Since 2008, Nationwide Says Swedish Bankruptcies at Highest Level in a Decade in January Chinese City Turns Quarantine Camp Into Temporary Homes for ‘Skilled Talent’ China’s Reopening Boost to Commodities Prices Is Losing Power Blackstone’s BREIT Ready to ‘Play Offense’ With $14 Billion UK Warns of ‘Severe’ Penalties for Offshore Property Owners Hong Kong Housing Slump Pushes Negative Equity to 18-Year High Tokyo’s Luxury Sushi Restaurants Go Casual With Budget Spinoffs Greater Vancouver home sales to flatten while prices inch up, forecast says Texas AG Paxton Is in Settlement Talks With Aides Who Reported Him to FBI Trump’s ‘False Denials’ in Fraud Suit Merit Sanctions, NY Says Silvergate Pressed by US Senators After ‘Evasive’ Responses on FTX What Toronto homeowners need to know about the Vacant Home Tax SoftBank Ex-COO to Spearhead Chinese Phenom Shein’s Latam Drive Economic Growth Slows to 1.6% in Canada as Aggressive Hikes Bite UK Looks to Traditional Finance to Inform Crypto Regulations India to Slash Spending on Food Subsidy for 800 Million People India to Invest $4.3 Billion for Energy Transition and Security Snap Forecasts First Quarterly Revenue Decline; Shares Fall Adani Flagship Falls After Last-Minute Completion of Share Sale Virgin Money Predicts Muted Mortgage Volumes on Housing Slowdown India Budget to Target Growth, Smaller Fiscal Gap Amid Adani Woes Tiny Radioactive Capsule Found in Australia After Desert Search Factories in Southeast Asia Are Firing Up as China Reopens South African Factory Managers Upbeat on Better Global Prospects Asia Stocks to Rise as US Shares Rally Before Fed: Markets Wrap Bestway Increases Stake in Sainsbury’s Days After Taking Holding Hong Kong’s Economy Contracts in 2022 on Covid, Slowing Demand Renault, Nissan Boards Set to Meet to Greenlight Alliance Revamp China’s Economic Recovery Still Patchy Despite Brighter Outlook India to Raise $6 Billion From Asset Sales Next Financial Year Housing Slump Deepens From US to China in Risk to Global Growth Worst UK Strikes for a Decade Shut Schools, Cripple Rail Network European Gas Swings as Cooler Weather Approaches Next Week India to Invest $4.3 Billion for Energy Transition and Security Adani Flagship Falls After Last-Minute Completion of Share Sale Tiny Radioactive Capsule Found in Australia After Desert Search South African Factory Managers Upbeat on Better Global Prospects European Gas Swings as Cooler Weather Approaches Next Week Porsche Invests in ABB’s Electric-Vehicle Charging Business Adnoc Reveals Record Income for Gas Business Ahead of IPO Adani Stock Sale Scrapes Through With Less Demand Than Peers Kefi Gold Hires Advisors for Dual-Listing in Saudi Stock Market US, Allies Impose New Sanctions on Myanmar Two Years After Coup Ukraine Latest: Heavy Artillery Is Part of $2 Billion in US Aid Oil Edges Higher Ahead of Fed Policy Decision, OPEC+ Guidance Michigan Battery Startup ONE Raises $300 Million to Fund Factory China Battery Giant CATL Weighs $5 Billion Swiss GDR Sale Global Health Craze for Coconut Oil Spurs Philippine Output Push Mild February Will Help Extend Europe’s Gas Storage Buffer Putin’s War Machine Helps Keep Russian Industry Humming 'Adani, Adani' Heckles in Parliament Interrupt India Budget Speech Credit Suisse’s Private Bank Halts Margin Loans on Adani Bonds Looking to travel this spring? 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El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Bitcoin Beating US Government Bonds Is a Whole Vibe Shift in Markets  Hong Kong Seeks to Revive Crypto Sector Wrecked by FTX Debacle Osprey Funds Sues Grayscale for Misleading Advertising on Crypto Trust BNY Mellon Wants to Ride ARKK-Style ETF Boom Despite Turmoil Fed’s Wall Street Clash Sets Stage for Powell’s Hawkish Message Tiny Crypto ETF’s 100% Surge Puts It Atop Best-Performers Race We Asked ChatGPT to Make a Market-Beating ETF. Here’s What Happened South Africa’s Blackouts Threaten Platinum Supply in Top Miner Deutsche Bank Fund Unit Doubles Down on ETF Target Amid Outflows U.S. stocks shrug off gloom; Tesla whipsaws on earnings Cathie Wood’s ARKK Is Well on Way to One of Its Best Months Ever Stock Faithful Try to Look Past Bond Market’s Sullen Signals Cathie Wood Resumes Selling in JD.com for First Time Since July Investors Start to Unwind the $540 Billion America First Trade Bruised Stock Bears Bust Out the Charts in Arguing the Top Is In Vanguard Gets Extra ETF Billions After Largely Shunning ESG FOMO Stirs Again in Bitcoin’s Best Start Since Before Pandemic Crushed Crypto Funds Are Suddenly Beating Every Other ETF Quant Fund That Once Lost 92% of Assets Is Making a Big Comeback Bankman-Fried says in court that he's ready for U.S. extradition SBF sent back to Bahamian jail after catching lawyer off guard with U.S. extradition plan Disney's Iger returns to reckon with his own 15-year Legacy Women making small gains, but still troublingly under-represented in the C-suite Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO Dominic Barton on Canada-China relations, future at Rio Tinto 'We’re serving Canadians better' following the pandemic: McKesson Canada CEO Rebecca McKillican World's richest family loses US$11.4B in Walmart rout 'Fine balance': Rania Llewellyn on fitting her long-term inclusion goals into Laurentian's revamp First female bank CEO in Canada leads with younger self in mind ​Company holiday parties are making a comeback, but many employers have a plan B Elon Musk and Jeff Bezos now worth almost half a trillion dollars Jane Fraser has a plan to remake Citigroup while tormenting rivals ‘Forever changed’: CEOs are dooming business travel — maybe for good National Bank names Laurent Ferreira CEO, succeeding Vachon The remote-work czar is the new shortcut to the C-Suite Olympics boss aims to put 'most-followed' Tokyo games on track Wellness resorts eye long COVID treatments as new moneymaker Ghosn accomplice says he 'deeply regrets' helping him escape Prinesha Naidoo, Bloomberg News , (Bloomberg) -- An index tracking expected business conditions in South Africa’s manufacturing industry rose to an 11-month high in January, with purchasing managers expecting improved global economic conditions to outweigh the effects of intense power outages and other domestic headwinds. The gauge, which measures expected business conditions in six months’ time, rose to 63.8 from 54.9 in December, Absa Group Ltd. said Wednesday. The increase, likely driven by better expectations for the global economy, is encouraging “given the poor potential for the domestic economy to accelerate demand growth for factory goods,” the lender said. “There are more signs of the European economy avoiding a near-term recession and the reopening of the Chinese economy providing a further boost to global demand.” South Africa is suffering its worst bout of electricity rationing yet, with state-owned utility Eskom Holdings SOC Ltd. implementing rolling blackouts on 205 days last year and every day so far in 2023. The outages, which are needed to protect the grid from collapse when Eskom’s plants can’t meet demand, are curbing activity in Africa’s most industrialized economy. The central bank last week cut its economic growth forecast for 2023 to 0.3% from 1.1%. Its projection assumes the blackouts, known locally as loadshedding, will shave two percentage points off output growth. Economists in a Bloomberg survey predict there’s a 45% chance of the nation slipping into a recession this year. The overall purchasing managers’ index dipped to 53 from 53.1 in December. While an outcome above 50 signals expansion, “continued activity growth would require a sustained improvement in demand and most likely a move to less intense stages of loadshedding,” Absa said. The manufacturing sector accounts for about 14% of South Africa’s gross domestic product. --With assistance from Rene Vollgraaff. ©2023 Bloomberg L.P.

Absa Group Frequently Asked Questions (FAQ)

  • When was Absa Group founded?

    Absa Group was founded in 2018.

  • Where is Absa Group's headquarters?

    Absa Group's headquarters is located at Johannesburg.

  • What is Absa Group's latest funding round?

    Absa Group's latest funding round is Loan.

  • How much did Absa Group raise?

    Absa Group raised a total of $124M.

  • Who are the investors of Absa Group?

    Investors of Absa Group include International Finance Corporation.

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