Year-on-year (y/y) growth in the value of outstanding credit balances in the South African household sector was recorded at 3,7% at the end of July 2015 and has been below the 4% level for the past twelve months. Growth in the value of household secured credit balances (R1 094,2 billion and 75,7% of total household credit balances) was unchanged at 2,9% y/y at end-July from the end of June. Growth in instalment sales balances slowed down further to 3,8% y/y, whereas growth in mortgage … [Read more...] about Household credit and mortgage balances growth remains low
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Continued low growth in household credit and mortgage balances
The first six months of 2015 saw growth in the value of outstanding credit balances in the South African household sector remaining low at a level of around 3,5% year-on-year (y/y) since August last year. Growth in the value of household secured credit balances (R1 090,6 billion at end-June and 75,8% of total household credit balances) was down to 2,9% y/y from 3,2% y/y at the end of May. The somewhat slower growth was the result of instalment sales balances growing increasingly slower (4% … [Read more...] about Continued low growth in household credit and mortgage balances
Kwadwesi branch re-locates to Kenako Mall, New Brighton
Absa, a wholly owned subsidiary of the Barclays Africa Group, has closed the doors of its Kwadwesi branch to prepare for relocation to Kenako Mall, to open on 9 February 2015. The new branch will be named 'Absa Kenako Mall' and will be located at Shop 46 Kenako Mall, corner of Spondo and Uitenhage Roads, New Brighton. This new branch will offer a modern and enhanced look-and-feel for the Absa customer, and is part of a Group-wide R1.2bn programme aimed at improving the branch and ATM network. … [Read more...] about Kwadwesi branch re-locates to Kenako Mall, New Brighton
Holiday Banking Hours Extended
During the festive season, selected Absa branches located in shopping malls nationwide will have their operating hours extended. This will also include Sunday banking to accommodate predicted increase in seasonal demand for financial services and offer convenience to customers over this period. This year's extended services at select branches will commence today, Friday 12 December 2014, and will remain in place until 11 January 2015. Saturday banking at selected branches, particularly at … [Read more...] about Holiday Banking Hours Extended
Loan rebates offered for renewable energy projects
Commercial businesses in South Africa who qualify for a loan of up to R100 million to fund energy efficiency or renewable energy specific projects amy also qualify for a loan rebate from Absa, who have teamed up with the French Development Agency (AFD) to offer this incentive. The rebate forms up to 7% of the loan amount and will allow clients to use the funds to reduce their loan amount. Renewable energy projects that may qualify for funding include bio-gas, solar power, wind power and solar … [Read more...] about Loan rebates offered for renewable energy projects
Shrinking economy pushes SME Index into decline
The Absa SME index declined for the second time in a year during the first quarter of 2014, with a total quarterly decrease of 2.2% and a yearly decrease of 3.8%. The index declined to its lowest number in two years to 93.4 from 95.6 in the last quarter of 2013. Although South Africa has not yet entered into a recession, slower growth over the last few years is clearly reflected in the overall index. Both the number of employers and the number of self-employed has declined to just above two … [Read more...] about Shrinking economy pushes SME Index into decline
Clive Wilkinson
Join Port Elizabeth and MyPE in congratulating Mover and Shaker, Clive Wilkinson from Absa: Clive Wilkinson was appointed as Provincial Head of Absa's Business Banking for the Eastern and Southern Cape region. Wilkinson possess years of experience and expertise in the banking sector. Wilkinson started his banking career in 1971 and moved to the Eastern Cape in 2006. He gained valuable experience in Nigeria last year. A Bachelor of Commerce graduate who has also completed an Advanced … [Read more...] about Clive Wilkinson
Helping 1 240 learners achieve their ambitions
The Ubuntu Education Fund has had a further R800 000 injected into it's multi-faceted programmes which support youth in the Zwide and surrounding area in the Nelson Mandela Bay Metro. These programmes help them to develop and achieve their ambitions - in the right way. Ubuntu Education Fund adopts an integrated system of educational, social and health interventions and recognises that a traditional development model does not have the capacity to address the complex challenges facing this … [Read more...] about Helping 1 240 learners achieve their ambitions
Now if I was traveling to the USA, UK, Europe AND Australia …..
Representing the future of travel prepaid cards, Absa Bank, a subsidiary of Barclays has launched a Multi-Currency Cash Passport - South Africa's first reloadable prepaid travel Multi-Currency Card. The card allows cardholders to load multiple currencies on the same card with global reach of MasterCard®, while it is also accepted at 35.9 million locations worldwide. Cardholders can currently load up to four currencies on the easy-to-use card: US dollar, British Pounds, Euro and the Australian … [Read more...] about Now if I was traveling to the USA, UK, Europe AND Australia …..
Absa Capital wins Nelson Mandela Bay Metro account
The Nelson Mandela Bay Metro has appointed Absa Capital, the corporate and investment banking division of Absa Bank Ltd, as its primary banker in a show of confidence in the bank’s ability to deliver added value and innovative services. In making the appointment, the Nelson Mandela Bay Metro, which had been banked by the same institution for over a century, now joins an already impressive list of clients which includes various levels of government, including provincial and metropolitan … [Read more...] about Absa Capital wins Nelson Mandela Bay Metro account
The Latest International Mohair Trends
The ABSA Kirkwood Wildsfees will see mohair featured in a way it never has before. With a dedicated mohair exhibition festival-goers will be able to experience the luxury that mohair offers on their doorstep from 29 June - 1 July. The mohair exhibition will feature an array of gorgeous mohair products for sale, a coffee lounge to relax in and an opportunity to touch Angora Goats. Visitors will be delighted with the variety on offer including pop-up knitting groups as well as an interior … [Read more...] about The Latest International Mohair Trends
L’Atelier – Recognising and Rewarding South African artists for 27 years
Now in its 27th year, Absa L'Atelier continues to recognise and reward the skills, talent and imagination that exist in an extremely competitive and often challenging environment as well as presenting a unique opportunity to artists to showcase their talent and embark on new and exciting opportunities. Once all the regional judging has taken place, 100 works from the pool of entries will be selected as finalists. The overall winner will be announced at a gala exhibition in Johannesburg on 18 … [Read more...] about L’Atelier – Recognising and Rewarding South African artists for 27 years
SAFA NMB ABSA Women’s Regional League starts up again
The regional league is back in full swing for 2012 and some of the teams have got off to a flying start. Unofficial results see the league shape up as follows. Continental Express ladies side head up the log and they have got off to a great start this year, winning the first 3 games of the new year 2-0, 5-1 and 1-0 respectively. Continental Express stats for the season reads as follows: Played 8, Won 7, Drawn 1, Loss 0, Goal Difference 15, and 22 Points. Mustangs LFC are sitting in … [Read more...] about SAFA NMB ABSA Women’s Regional League starts up again
R500 000 to Local Academy in recognition as the Benchmark for Job Creation and Skills Training
On November 9, 2011, the Wilderness Foundation will showcase its two successful Umzi Wethu academies to sponsors and the media. The occasion will also mark Absa's handover of R500 000 towards Umzi Wethu training for 2012. One of the main focus areas of the Wilderness Foundation is social intervention coupled with experiential environmental education. The international award-winning Umzi Wethu project was founded by Andrew Muir, CEO of the Wilderness Foundation in 2006 and is one of the … [Read more...] about R500 000 to Local Academy in recognition as the Benchmark for Job Creation and Skills Training
R300 000 Support for Ubuntu Education Fund
Absa announced today that its partnership with the Ubuntu Education Fund will receive a further R300 000 injection in support of orphans and vulnerable children in the Zwide area of the Nelson Mandela Metro. The Ubuntu Education Fund adopts an integrated system of educational, social and health interventions in disadvantaged communities. Over the past 10 years, the Ubuntu Education Fund has developed programmes that focus on empowering vulnerable children by addressing the needs of an entire … [Read more...] about R300 000 Support for Ubuntu Education Fund
