JOHANNESBURG - Absa has sought to reassure customers that it won’t be affected by Barclays' withdrawal from Africa.
That's following an announcement that Barclays PLC would sell its 62-point-three-percent stake in Barclays Africa, which is known as Absa in South Africa.
According to the announcement the process would take two to three years.
Barclays Africa boss, Maria Ramos says the bank is independently listed on the Johannesburg Stock Exchange.
And with a balance sheet of over a trillion rand, its future remains bright.
Ramos says Barclays Africa remains the continent's leading bank and will not be negatively affected by the withdrawal announcement.
Ramos said in a statement: "We are deeply committed to the communities in which we live and work and today, when we announced our financial results I also said we will invest R1,4 billion in education and skills development across Africa over the next three years.
"That commitment extends to the way we serve our customers. Nothing in today’s announcements will make us deviate or change our course. We at Barclays Africa are neither exiting our operations in South Africa nor the rest of our African markets."