ABSA

Absa Bank, a subsidiary of Absa Group, delivers a wide range of financial solutions to customers in South Africa, including retail, business, wealth management, corporate, and investment services.

The bank strives to generate sustainable shared value and equip clients with the tools they need to accomplish their objectives, all while maintaining a spirit of preparedness, passion, and courage. As an African brand, Absa derives inspiration from the communities it serves and remains dedicated to upholding the pride of Africa.

Absa Group's diversified financial services across 15 African countries and beyond

Absa Group is a prominent provider of diversified financial services in Africa, operating in 15 African countries, the United States, and the United Kingdom.

The company provides banking services in numerous African nations and maintains insurance operations in five countries. Apart from this, it has representative offices situated in Namibia, Nigeria, and the United States. Absa also has securities entities in the UK and the US, as well as a specialised IT office located in the Czech Republic.

Absa's purpose and values for sustainable growth

Absa's mission is to enable individuals to achieve their aspirations by granting them access to financial services that allow them to plan, dream, and improve their lives. The bank is dedicated to providing novel technologies and solutions that expand the realm of possibilities. These aim to contribute to the advancement of a world that prizes development and economic activity in service of the greater good.

Absa is committed to pursuing sustainable growth that benefits generations of customers, employees, and communities throughout Africa and beyond. The bank is fueled by a pursuit of excellence, an unrelenting focus on the customer, a devoted workforce, and its identity as an African institution.

Meet Absa Group's directors

Absa Group, a financial services provider from South Africa, has five non-executive directors who are independent of the company. The chairman of the board is Sello Moloko, who has almost 30 years of experience in the industry and serves on several committees.

Another director, Alex Darko, joined the board in 2014 and became an independent non-executive director of Absa Bank in December 2021. Francis Okomo-Okello, an advocate of the High Court of Kenya and an Albert Parvin fellow of Princeton University, joined the board in 2014 and was appointed chairman of the Social, Sustainability, and Ethics Committee in June 2020.

Tasneem Abdool-Samad, a former executive of Deloitte, has been on the board since 2016 and is the chair of the Absa Financial Services Board. Lastly, René van Wyk, a former chairman of the board, returned to the board in 2020.

Absa provides a range of commercial property finance solutions to help fund various types of development plans, including residential and agriculture loans. The company has a presence across multiple African countries in addition to South Africa such as Kenya, Mozambique, Tanzania and Zambia, and offers cross-border funding solutions as well.

Absa offers a broad spectrum of property financing options, including retail, office, industrial, residential (with a particular emphasis on low-cost housing), and specialized properties. They collaborate with investors, developers, and entrepreneurs to design personalized financing solutions that cater to their unique requirements.

Some of the different commercial property finance solutions provided by Absa include investments, development, mortgage-backed, lease discounting, and vacant land loans which we’ll look at in greater detail below.

• Investment loans: These loans are designed to finance the purchase of commercial investment properties, such as office buildings or retail centres. The loan amount is typically based on the value of the property and the borrower's ability to repay.
• Development loans: These loans are used to finance the development of new commercial properties, such as shopping centres or office buildings. The loan amount is based on the estimated value of the completed project, and the borrower typically repays the loan with the income generated from the property.
• Mortgage-backed business loans: These loans are secured by a mortgage on a commercial property owned by the borrower. The loan amount is typically based on the value of the property, and the borrower uses the funds for business purposes, such as expanding operations or purchasing inventory.
• Lease discounting: This is a financing solution that allows businesses to raise capital by selling their future lease payments at a discount to a finance provider. The business receives the funds upfront, and the finance provider collects the lease payments as they come due.
• Vacant land loans: These loans are designed to finance the purchase of land for commercial development. The loan amount is typically based on the value of the land and the borrower's ability to develop it.
• Overall, Absa's dedicated team of property finance experts has a wealth of experience in structuring innovative financing solutions that help businesses achieve their development goals.

Additional commercial solutions from Absa

The bank's finance solutions include installment sale agreements, lease agreements, Islamic vehicle, and asset finance, and rental agreements/operating leases.

Through these financing options, businesses can get access to financing for movable assets, including vehicles, equipment, and other assets. Islamic vehicle and asset finance are available for businesses that require Shari'ah-compliant financing options.

Specialised financing solutions offered by Absa to cater to specific business needs

Absa also provides specialised solutions to cater to specific customer needs and business requirements. These specialised solutions include financing for imported assets and local or imported aircraft and marine vessels.

Businesses that require financing for imported assets can benefit from the bank's specialized funding solutions. The bank's skilled specialists are available to tailor-make financing solutions that suit the unique needs of each business.

Partnerships with dominant industry players

The bank's asset finance joint ventures and partnerships within the transport, agriculture, and construction industries ensure that businesses can access the bank's asset finance solutions with ease. By partnering with dominant players in these industries, Absa can provide businesses with financing solutions that suit their unique needs.