Browsing: Absa

Absa suffered a major data leak in South Africa and even though the breach did not occur at the bank itself, the data leak still raises security questions concern the safety of client’s money.

Absa is new in Tanzania, the newest big player in the banking industry and has invested a great deal in creating a positive image. However, earlier this month, that image was gravely tainted after an Absa employee allegedly leaked some of the bank’s customer data.

The incident occurred in the bank’s South African main branch where it is reported that the said employee provided customer information to unknown third party interests. The leaked customer info included client ID numbers, bank account numbers, credit card numbers and even mobile phone numbers.

The information that was leaked includes names and surnames, identity numbers and physical addresses, the bank admits.

Further still it also admitted other leaked data includes …

Uganda’s Central Bank appointed seven banks to compete at its auctions of treasury bonds and bills, reforming the primary dealership system in a bid to bolster the country’s economy.

At each auction, the primary dealer banks will bid above $54,040.08 and then resell the bonds to other investors on the secondary market.

The primary dealer banks include Centenary, ABSA, bank of Baroda, Development Finance Company of Uganda (DFCU), Stanbic Bank, Housing Finance Bank and Standard Chartered Bank. Experts in Uganda say that the move will improve the attractiveness of the country’s treasuries to investors at home and overseas.

These investors include overseas buyers, non-primary dealer commercial banks, firms and ordinary Ugandans that are looking to enjoy interest payments from government and to use the treasuries as collateral.

“In order to enhance liquidity in the secondary market, effective October 01, 2020, competitive bidding in the primary market for Government securities shall …

Barclays Bank Kenya has successfully changed its name to Absa Bank Kenya marking an end to centuries of the domination of the banking sector by British banks. This follows the acquisition of Barclays Plc operations in Africa in 2017 by Absa Bank of South Africa in restructuring by the London-based lender.

These are some of the changes experienced in several countries across Africa as the Absa brand cements its presence in the continent, a market that was firmly held by Barclays brand for almost a century. Similar changes have happened in Ghana, Botswana, Seychelles and Tanzania.

With these changes, the bank is knocking doors in one of the biggest global lenders, the Multi Investment Guarantee Agency (MIGA) with an aim of creating a broader investment base for individual banks in several African countries.

Different Central Banks in the region require commercial banks to have a minimal investment base to enable …

Earlier this week, the African Development Bank signed an unfunded $250-million Risk Participation Agreement (RPA) facility with ABSA – a pan-Africa financial institution with a solid presence in 12 African countries.

According to AfDB’s statement, the 3 year RPA facility was signed on November 12, on the sidelines of the Africa Investment Form through its trade finance operations.

Under this 3-year RPA facility, the Bank and ABSA will share the default risk on a portfolio of eligible trade transactions originated by African Issuing Banks (IBs) and confirmed by ABSA.

ABSA Group Limited is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups with solid human capital on the ground reaching around 42 000 employees.

Also, ABSA has majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles , South Africa (Absa Bank), Tanzania (Barclays Bank in Tanzania and National Bank of …