Absa Group Structure
ABSA Group Limited is structured into a number of divisions which provide various services:
- ABSA Bank Limited – retail, commercial, and investment banking
- ABSA Financial Services Limited – financial services, short- and long-term insurance, wealth management and investment management services
- ABSA Capital – Investment banking unit
- ABSA Asset management
- ABSA Life
- ABSA Insurance Company
- ABSA Fund Managers
- ABSA Mortgage Fund Managers
- ABSA Health Care Consultants
- ABSA Secretarial Services
In addition to these, Absa has other subsidiaries operating throughout various parts of Africa (through majority shareholdings in Angola, Mozambique and Tanzania and minority shareholdings in Namibia and Zimbabwe), as well as other interests in the banking and property sectors.
At the beginning of 2006, Absa took over Barclays’ South African subsidiary. Over the next five years, Absa and Barclays plan for Absa to take over all of Barclays' African operations (except Egypt) through a series of acquisitions, which could make ABSA-Barclays the largest bank in Africa.
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