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Absa Bank Uganda, an arm of the banking group led by Kenny Fihla, will acquire Standard Chartered’s retail and wealth units to boost its footprint and retail reach in East Africa.
The move underscores CEO Ralph Mupita’s push for consolidation in a market where Vodacom has already secured approval for a contested fiber deal.
Kenny Fihla leads Absa’s retail revamp, driving digital banking growth and pan-African expansion with strong first-half 2025 results.
The Johannesburg-based lender aims to build a sustainable finance ecosystem as demand for new energy vehicles (NEVs) continues to climb.
The court rejected Absa’s application, insisting the matter requires full trial and mediation, which the bank had declined.
Absa Bank Mauritius secures $75 million from France’s Proparco to back solar, waste, and green building projects aligned with Africa’s climate goals.
René van Wyk, a former interim CEO of the bank and seasoned regulator, will take over as chairperson of both Absa Group and Absa Bank.
This development comes after an inspection in 2022 that revealed lapses in Absa's adherence to critical regulatory requirements.
Absa Group to open Dubai office in early 2026, expanding global reach and tapping into Africa-Gulf trade and investment.
He will take over from Charles Russon, who has been serving as interim CEO following the early retirement of the previous chief executive.
The investment aims to improve agricultural efficiency and expand market access in one of Africa’s most crucial sectors.
The syndicated loan, Absa’s first, signals a significant step in the bank’s commitment to sustainable investments.
This follows a recent collaboration between Absa and IFC, which resulted in a $60 million trade finance facility for Volcafe, a leading global green coffee merchant.
The collaboration introduces Renault Financial Services, a new financing and services platform designed for Renault customers.