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Absa opens non-banking subsidiary in China

Absa Bank enters Chinese Market
Absa Bank enters Chinese Market

Absa Group says it has launched a non-banking subsidiary in the People’s Republic of China, a move that fortifies the vital economic bridge between Africa and China.

According to the banking giants, its office in China will operate under a wholly foreign-owned enterprise licence.

The licensing regime 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.

Editor's Comment
WUC must fix its pipes, not just say sorry

“Clean water, the essence of life and a birthright for everyone, must become available to all people now.”– Michel CousteauWe see notices for Block 6, Extension 11, Gaborone, Francistown; the list grows every week. It is good that WUC warns consumers, but so many warnings point to a deep problem. Water pipes are old and falling apart. And the people who pay the bills are the ones suffering.When a main pipe bursts, taps run dry. Families in...

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