Africa’s best bank for transaction services 2022: Absa
Post-Barclays, Absa continues to expand its regional footprint, adding new services each year and doing the nuts and bolts of banking well. Given the central role that trade and the flow of cash play in the region, there are few more important awards than that for Africa’s best bank for transaction services – and Absa is a worthy winner.
Well-capitalized and serving more than 12 million customers in 14 markets, Absa offers a full range of services, from foreign currency trade loans to letter of credit refinancing. Its Trade Hub acts as a conduit between local and international banks, and as a single point of contact on all transactions and on all cash flowing into and out of Africa. Key to this is the South African lender’s sprawling network of subsidiaries, regional partner banks and multilateral agency programmes.
The bank was busy in the awards period covering the 12 months to the end of March 2022.