Loredana Renzi , Market Risk COO at Absa Group , explains how the organisation ’ s digital transformation efforts are driving improved business outcomes
ABSA GROUP
Loredana Renzi , Market Risk COO at Absa Group , explains how the organisation ’ s digital transformation efforts are driving improved business outcomes
As one of Africa ’ s largest financial services providers , Absa Group offers an extensive range of banking and financial products and services to individuals , businesses and other institutions across the continent .
Its growth in recent years has been both exponential and international . In addition to its 10 offices in Africa , including headquarters in Johannesburg , South Africa , these days Absa has locations in New York , London and , more recently , in China .
To truly understand this expansion , one must look back to 2005 , when UK banking giant Barclays acquired the business . As part of the deal , Absa absorbed several banks across Africa , which it retained when Barclays divested and began selling most of its shares throughout the 2010s .
By 2018 , Barclays ’ ownership had been reduced to just 15 % and , in 2022 , the organisation sold its remaining stake in Absa – signalling a major rebrand .
“ After Barclays divested and sold most of its shares in Absa , we retained all branches across Africa as part of the sell-down ,” explains Loredana Renzi , Market Risk COO at Absa Group .
“ Our roots have always been deeply South African . However , as we embarked on redefining our mission and purpose , we recognised the importance of embracing a Pan-African perspective . That ’ s why we landed on ‘ empowering Africa ’ s tomorrow ,
82 May 2024