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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
No room for perjury

It seems some government accounting officers, sworn to tell "the truth, the whole truth, and nothing else but the truth" before Almighty God, may have deliberately lied during the committee’s vital work. If proven, this is not merely unprofessional; it is perjury, a serious criminal offence and it strikes at the very heart of responsible government.The PAC’s role is fundamental. After each financial year, it painstakingly examines how public...

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