Latest news with #AbsaGroup
Bloomberg
20-05-2025
- Business
- Bloomberg
Anglo-African Fund Plans $1 Billion Infrastructure Investment
South African asset manager Ninety One Ltd. plans to deploy more than $1 billion in critical infrastructure projects in Africa and Asia by 2028, after raising debt from global financial institutions. Ninety One-managed Emerging Africa & Asia Infrastructure Fund, or EAAIF, raised $325 million in debt in its latest round that close in March, by backed Allianz Global Investors, and top African banks including Standard Bank Group Ltd. and Absa Group Ltd., according to the firm's co-head of emerging market alternative credit Martijn Proos. That followed a $295 million debt raise that brings the recent total commitments to $620 million, he said.
Yahoo
15-05-2025
- Business
- Yahoo
Those who invested in Absa Group (JSE:ABG) five years ago are up 194%
Absa Group Limited (JSE:ABG) shareholders might be concerned after seeing the share price drop 11% in the last quarter. But that scarcely detracts from the really solid long term returns generated by the company over five years. It's fair to say most would be happy with 119% the gain in that time. Generally speaking the long term returns will give you a better idea of business quality than short periods can. Only time will tell if there is still too much optimism currently reflected in the share price. So let's assess the underlying fundamentals over the last 5 years and see if they've moved in lock-step with shareholder returns. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). Over half a decade, Absa Group managed to grow its earnings per share at 8.6% a year. This EPS growth is slower than the share price growth of 17% per year, over the same period. So it's fair to assume the market has a higher opinion of the business than it did five years ago. And that's hardly shocking given the track record of growth. The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers). Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Absa Group's TSR for the last 5 years was 194%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return. Absa Group shareholders are up 19% for the year (even including dividends). Unfortunately this falls short of the market return. It's probably a good sign that the company has an even better long term track record, having provided shareholders with an annual TSR of 24% over five years. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. It's always interesting to track share price performance over the longer term. But to understand Absa Group better, we need to consider many other factors. Even so, be aware that Absa Group is showing 1 warning sign in our investment analysis , you should know about... But note: Absa Group may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on South African exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Bloomberg
12-05-2025
- Business
- Bloomberg
Absa Sees East Africa Property Boom, Eyes Kenya Expansion
Absa Group Ltd., South Africa's third-biggest lender, is seeing surging interest among real estate investors in East Africa and plans to bolster its balance sheet to meet demand for financing. 'Kenya is the most dynamic market' of Absa's 11 operations outside South Africa, with the property market a key and growing component, said Sandile Mpanza, head of commercial property finance for Africa at the lender's corporate and investment banking business. Given the size and diversified nature of Kenya's $132 billion economy 'we definitely see this as an anchor in the region,' he said.
IOL News
07-05-2025
- Business
- IOL News
Absa Group chairman Sello Moloko steps down from a board that has seen much change
Sello Moloko has stepped down as Absa's Group Chairman. Image: Supplied Absa Group chairman Sello Moloko's decision to step down as chairman represents a continuation of a number of changes on the board in recent months. The bank announced Wednesday that Moloko, who turns 60 in July, will step down as independent non-executive director on July 15, and he will be succeeded by independent board member René van Wyk, who had also been the interim CEO in 2019. Moloko intends to work with Van Wyk over the next few months for a smooth transition. Frequent and unexpected board changes to the board often indicates to investors that there might be instability in the management of a company, or different views among them on strategy. 'Moloko, who has led the strategic work of the board, will be handing over the reins for the next phase of leadership and for him to focus on his family, personal business interests, and community commitments,' the bank's board said in a statement. Moloko said the board had dealt with several challenges in 2024, and as a result, did work to reposition the group for a more sustainable performance trajectory, which included appointing a permanent chief executive and initiating the restructure of the retail operating model. 'These challenges have prompted me to reflect on the demands on my time. I feel the time is ripe to refocus my attention on my family, my community commitments, and the several personal business initiatives outside the group that I need to drive. This will, naturally, adversely affect my ability to devote the requisite time to a group of the scale of Absa,' he said. In March, the bank announced Zarina Bassa and Sindi Zilwa had been appointed as non-executive directors, from April 1, 2025. Bassa is also a non-executive director of Gold Fields and of the JSE. Zilwa has almost 30 years as a director and her current board seats include Sibanye-Stillwater, Metrofile and Delta Property Fund. Last month, Absa announced its seventh CEO in less than 7 years, after Standard Bank's former deputy chief executive Kenny Fihla was appointed as ABSA CEO. This was after the early retirement of the prior CEO, Arrie Rautenbach was announced on the same day last year that the bank declared a 5% decline in annual headline earnings. And the CEO before Rautenbach, Daniel Mminele, had resigned due to differences with the board on strategy. Absa's share price barely changed on the announcement of Moloko's resignation slipping by 0.88% Wednesday afternoon to R169.02. In contrast the JSE Bank Index was up by 0.45% at the same time. Absa's share price was 13.3% higher than a year ago. Van Wyk was interim group CEO in 2019. He re-joined the Absa board, after a cooling-off period, as a non-executive director from August 1, 2020, and thereafter became an independent non-executive director from August 1, 2021. He is the chairman of the Absa Group Risk and Capital Management Committee, and Credit Risk Committee, and is a member of the Directors' Affairs Committee and the Audit and Compliance Committee, and was a member of the Board Finance Committee. His committee memberships and chairmanships will be revised upon his appointment as Chairman.
Reuters
07-05-2025
- Business
- Reuters
South Africa's Absa Group Chair Sello Moloko to step down in July
JOHANNESBURG, May 7 (Reuters) - South Africa's Absa Group (ABGJ.J), opens new tab announced on Wednesday that Sello Moloko will step down as chairman of the bank on July 15 to make way for new leadership, and René van Wyk will succeed him, subject to regulatory approval. Moloko said he had decided to quit after the board "dealt with several challenges in 2024", appointed a new chief executive and launched a restructure of Absa's retail model. here. "I feel the time is ripe now for me to refocus my attention on my family, my community commitments and the several personal business initiatives outside the Group that I need to drive," he added. Van Wyk was interim group Chief Executive Officer in 2019 and rejoined the Absa board as a non-executive director in 2020. "The organisation is well-positioned to advance its strategic priorities, and I look forward to contributing to its growth and success, alongside a strong management team," Van Wyk said. (This story has been refiled to correct the day of the week from Tuesday to Wednesday, in paragraph 1)
