Absa CEO: Africa Expansion Plan Progressing Well

Absa Group is exploring conversion of its representative office in Nigeria into a merchant bank, CEO Kenny Fihla said in an interview with Bloomberg. Fihla identified Uganda, Zambia, Tanzania, and Angola as markets with expansion opportunities. The group reported first-half net income of 12.58 billion rand, compared with 11.23 billion rand in the same period the previous year.

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