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\u00a0<\/p>\n
\u00a0<\/p>\n
Absa Group has marked a historic milestone with the official launch of a non-banking subsidiary in China, fortifying the vital economic bridge between Africa and China.<\/p>\n
\u201cThe African continent is endowed with talent, mineral wealth, and a young population \u2013 and is poised to play an increasingly influential role in global trade, as investors recognise its status as the last true frontier in global growth. Through this expansion, Absa Group isn\u2019t merely acquiring a new location; we\u2019re affirming our dedication to expanding our global presence and playing our part in facilitating growth on the continent,\u201d says Arrie Rautenbach, Group Chief Executive Officer of Absa Group.<\/p>\n
The China-Africa investment relationship has flourished over the past few decades, with China emerging as the continent\u2019s largest bilateral trade partner.<\/p>\n
This has been fuelled by Chinese investment in Africa\u2019s vast natural resources and infrastructure projects, creating huge commercial opportunities for both regions.<\/p>\n
\u201cOur decision to establish a presence in China was driven by our ambition to better connect trade, investment flows, and clients into Africa, where we will serve them across our extensive continental footprint. Absa Group intimately understands the continent and seeks to be a partner of choice for organisations looking to access opportunities on the continent,\u201d Mr. Rautenbach continues.<\/p>\n
Absa Group\u2019s expansion into China highlights Absa\u2019s client-centric approach, in being able to innately understand their client\u2019s needs.<\/p>\n
Its office in China will operate under a wholly foreign-owned enterprise licence which permits the financial institution to provide general advisory services to clients based in China for concluding transactions across the African continent, as a non-banking subsidiary of Absa Group Limited.<\/p>\n
This office allows the Absa Group to provide general advisory services to clients based in China for concluding transactions across the African continent, as well as distribute economic or general securities research reports permitted by Chinese regulation to corporate and institutional clients in China and across the African market.<\/p>\n
\u201cThe new office will enable Absa Group to offer local support to Chinese clients and stakeholders to conclude transactions across the African continent, helping to support clients\u2019 needs, goals, and ambitions. This is part of a wider commitment from Absa to expand its operations with an international presence in strategic markets and offer deep expertise in African markets to its overseas clients,\u201d says Charles Russon, CE of Absa Corporate & Investment Bank.<\/p>\n
He goes on to say, \u201cOur presence in China will help to firmly establish Absa\u2019s capability to provide general advisory services to clients based in China for concluding transactions across the African continent. This will not only give us a physical presence in the region but also help us to meet the<\/p>\n
needs of our clients operating in this rapidly growing market.\u201d<\/p>\n
\u201cBeing present in China allows us to be close to clients who see trade and investment in Africa as key to their strategic ambitions,\u201d concludes Russon.<\/p>\n
By Samuel Boadi<\/strong><\/p>\n\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"
\u00a0 \u00a0 Absa Group has marked a historic milestone with the official launch of a non-banking subsidiary in China, fortifying the vital economic bridge between Africa and China. \u201cThe African continent is endowed with talent, mineral wealth, and a young population \u2013 and is poised to play an increasingly influential role in global trade, as […]<\/p>\n","protected":false},"author":1,"featured_media":180800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-180799","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
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