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Absa seeks East Africa acquisition by 2013: CEO

27 July 2012, 12:50

Johannesburg - Absa Group is scouring East Africa for potential acquisitions and aims to strike a deal by next year, the chief executive of the South African bank said on Friday.

"East Africa is our next focus area and we are evaluating acquisition opportunities in this region with a target date of first quarter 2013," Maria Ramos said at the bank's first-half results presentation in suburban Johannesburg.

The bank, which is majority owned by Britain's Barclays, already has a presence in Tanzania.




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