Absa Group confirms expansion into China
Loading player...
GUEST - Cheryl Buss - CEO of Absa International
Absa Group is positioning to benefit as private Chinese firms increase their investment in Africa, the head of the bank’s international business. China’s involvement in Africa, for decades defined by large, government loan-backed projects, is undergoing a transformation, Absa International CEO Cheryl Buss said in an interview.
“It was very much government to government,” she said. “One could also argue it shifted slightly and became government to business. And I think now we’re seeing it being business to business, increasingly so.” On Wednesday, Johannesburg-listed Absa said it was opening a non-banking subsidiary in Beijing to support Chinese customers as part of its strategy to offer expertise on African markets to foreign clients
Absa Group is positioning to benefit as private Chinese firms increase their investment in Africa, the head of the bank’s international business. China’s involvement in Africa, for decades defined by large, government loan-backed projects, is undergoing a transformation, Absa International CEO Cheryl Buss said in an interview.
“It was very much government to government,” she said. “One could also argue it shifted slightly and became government to business. And I think now we’re seeing it being business to business, increasingly so.” On Wednesday, Johannesburg-listed Absa said it was opening a non-banking subsidiary in Beijing to support Chinese customers as part of its strategy to offer expertise on African markets to foreign clients
