ABSA REGIONAL OPERATIONS
Human-Centred Absa Closer to Clients
Absa is changing and adapting. The bank, with roots going back to 1986 in South Africa and a legacy of over 100 years across the Absa Regional Operations (ARO) countries, has been a frontrunner in the financial services sector for decades. An innovative spirit, and a willingness to push pioneering ideas, have helped Absa to grow and build. All the while, the bank has maintained strong ties with clients, and now more than ever Absa recognises that every story counts as it looks to broaden its product and service portfolio to meet the needs of a changing Africa.
By delivering customer-centric design across its product suite to bring real life impact for clients, Absa is innovating and adapting to ensure it remains deliberately different from other banks across sub-Saharan Africa. Omar Baig, Managing Executive: Retail & Business Banking for Absa Regional Operations, explains that the bank is consistently and curiously listening to client stories to ensure it can serve effectively.
How is the product portfolio developing today?
There’s been a big emphasis on moving away from what we think clients want to getting a much deeper understanding of what clients are looking for, understanding their specific pain points and how we can solve for them. We’ve tried to
“What is absolutely critical is to be close to the client and be extremely responsive”
Omar Baig Managing Executive: Absa Regional Operations (ARO), Retail & Business Banking
reestablish ourselves as more of a local bank that understands its customer’s needs, an African bank, and I think we’ve been successful. We have become more relevant regionally and are focusing on specific client needs and less on homogeneous offerings. This has been the mindset that we’ve taken to enhancing our product suite and bringing new capabilities into the market.
One example is Absa’s Women in Business. We recognise that women are significant drivers of the economy and society and have a large role to play on the economic and social development of the continent. We’ve come up with an offering that is specifically tailored to women entrepreneurs, with dedicated relationship managers who have a comprehensive understanding of what this specific segment might need, and we have broadened our offerings to include things like training and networking to help open new markets. We are now live with this in six of our markets and we will embed in the remaining markets soon.
We are also active in the payment space, trying to get more SMEs into the formal payment system. One of the barriers to entry has been the cost of being part of that payment acquiring ecosystem. So, we launched an innovative product called Mobi Tap, which converts an Android phone into a payment acceptance device.
Not only do we provide the capability, but we also sourced the devices in bulk and this enables us to offer them to our SME merchants at a fraction of the cost of a regular point-of-sale (POS) device. In many of our markets, we are providing the tech free of charge based on merchants hitting certain activity thresholds. We have also expanded our payments acceptance to accept digital wallet payments as that is what the users wanted from us. It’s a much larger channel of payment for a lot of consumers compared to plastic. This has been well received, both with the SME clients that we serve as well as their customer base.
How are
you supporting
ambitious SMEs in sub-Saharan Africa?
Our approach is to make sure that we are as close to our clients as possible so that we can understand their pain points and innovate quickly to launch the solutions they want.
With Women in Business and our other programmes, we provided training for about 30,000 SMEs in 2024 across our markets. We even took a client delegation to China to connect with suppliers as part of one of our Absa Business Clubs, and we do this with the help of strong partnerships. Similarly in Ghana, we’re working with the MasterCard Foundation which enables us to lend to SMEs at significantly below market interest rates and that has been extremely successful.
In some of our other markets, we’re partnering with the likes of DHL, where we’ve just established a regional partnership with two primary objectives. One is to provide training, business development, and support for SMEs. The second priority is access to underlying trade products and services, leveraging DHL’s capability across the continent.
We also have strong ties with various Development Finance Institutions (DFIs) as well as the International Finance Corporation (IFC) and the wider World Bank that enables us to broaden the base of customers we serve and provide relevant financial products and services.
What is absolutely critical is to be close to the client and be extremely responsive. Only then can you understand what their needs are and adapt and tailor your products and services to come up with new solutions for specific needs. This is the commitment our new brand positioning – Your Story Matterslaunched in early 2024 speaks to. It’s our commitment to being empathetic to our customers’ needs, while delivering seamless intuitive banking experiences.
What is next? How are you staying ahead of the rest?
A lot of our focus is on digitising, which makes a lot of sense in the context of the markets we play in and given the fact that Africa is the leader in digital banking globally.
We are currently working on a Super App for SME clients and our merchant base which will allow them to start with a payment acceptance device at its core, but then expand into banking services and value-added services. They can choose from a whole host of services without necessarily having to become a primary account holder. We can then layer it with, for example, a reward or an incentive programme. This concept is currently in development and testing in one of our markets before we roll out further afield.
We also recently launched a wealth offering catering for the sub-Saharan region in Africa. It was initially focused on South Africa, but we’ve rolled out our first offshore centre in Mauritius and that’s a nice tie in because we see a lot of our business clientele as the primary customers.
We’ve also just taken our new Absa Business Banking Credit Card to market in Kenya – it will be going live in the rest of our markets in Q1 2025 following the successful pilot. There’s a lot of work happening in making sure that we continue to stay relevant. We continue to innovate so that we are always responsive to our customers’ needs and are putting significant investments in our business going forward.
Agency Banking Services Launch (Kenya)
Change your story - November Winners (Uganda)
Turn your business story into a success story
At Absa, we believe in your story and are committed to supporting its growth and success. We offer a diverse suite of business solutions, covering transactional banking, secured and unsecured lending, trade and working capital solutions, vehicle and commercial asset finance, and more, all aimed at allowing you to start and expand your business ventures.
Omar Baig
Managing Executive: Absa Regional Operations (ARO), Retail & Business Banking
“Small businesses are pivotal to the expansion of African economies. They are the leading creator of jobs, spark innovation, and strengthen communities. Our mission is simple: to help SMEs reach their maximum potential because we understand their vital role in Africa’s growth. Your success story matters to us, and that’s why we’re the best bank to support your ambitions.”
Banking with Absa: Enhance your journey with tailored solutions
Digitally-enabled convenience
For your convenience, you can open an Absa Business Banking account seamlessly online, in just a few steps.
Elevate your business with a loan
Don’t let financial constraints hold back your dreams. Explore our range of short-term and medium-term finance options to get the funding your business needs.
Grow your capital, grow your story
Our savings and investment choices are designed to help your business thrive in a dynamic market. Choose your notice period, the portion of your investment you need on demand, plus earn high interest rates for maintaining high balances.
Run your business and accelerate your growth
Business Banking customers gain free access to Absa Cashflow Manager, a digital accounting system seamlessly connected to your transactional account to manage your finances effortlessly online.
Online and mobile hassle-free solutions for your business
Absa Online for Business and the Absa Mobile Banking App simplify your payment processes. Avoid branch fees by making payments and inter-account transfers easily, and send money to unbanked recipients with a click.
Grow your earning potential with Absa’s innovative payment solutions
No cash? No card? No problem
With Absa QR payments, customers can simply scan the QR code displayed by the merchant (in store or online) to make a payment.
Take control of your business expenses
Take charge of your business journey with our Absa Business Debit Card and manage transactions and expenses with ease. Our Absa Business Credit Cards offer global acceptance, lost card protection, data and reporting services, and extensive travel insurance, giving you peace of mind as you grow your business.
A safer, quicker, easier way to make and receive card payments
With Absa Mobi Tap, say goodbye to maintenance fees and simplify your end-of-day sales and monthly reconciliations. Easily accept card payments on the go, from anywhere, by letting customers tap their cards on your NFC-enabled Android smartphone for fast and secure transactions.
Easily collect payments
With Absa’s Merchant Portal solution, accept credit and debit card payments securely on your website, reaching customers worldwide, 24/7. Whether your business is big or small, tap into the global economy effortlessly.
Get more than you expect with Absa
We’re focused on unlocking your potential, that’s why our programs are aimed at driving SMEs towards economic growth. Get access to finance, products, services, and lucrative business opportunities. Join mentoring and incubation programs in key markets backed by Absa. Plus, benefit from tailored training, comprehensive business support, and valuable market access to fuel your entrepreneurial journey.
Judah Mphela
Head: Business Banking, Absa Regional Operations (ARO)
“Starting a business demands abundant courage and determination. As an entrepreneur, you’ve got what it takes, and Absa wants to help you reach your goals. We’re ready to empower you with tailored financial and investment solutions and support your success with the right strategic partnerships. Let’s turn your ambitions into a legacy because your story matters and we’re in to help you thrive.”
Empowering Africa one story at a time
We proudly backed African business connections at the Absa-sponsored 2024 Made in Africa event, the largest virtual buyers-meet-sellers showcase on the continent.
We empower female entrepreneurs across six African markets with Absa Women in Business propositions, offering tailored mentorship programs and more to fuel the rising tide of women transforming Africa.
Absa Bank Ghana’s dynamic SME Clinic Series boosts SME efficiency through expertise sharing.
Premium support at Absa Bank Botswana SME Banking Centres, offering workspace, meeting rooms, and Wi-Fi – all the essentials for budding businesses.
Join the exclusive Absa Business Club in Kenya, Botswana, Ghana and Uganda designed to help SME customers build strong networks, increase market exposure, and benchmark against global industry standards. Experience annual business trips to diverse destinations to broaden horizons and gain invaluable insights into targeted industries.
At Absa, we are passionate about the part we play in shaping the many SME success stories on the continent.
Africa’s Big Breakthrough is in Small Business
By Saviour Chibiya
Small and medium enterprises are engines of empowerment and the backbone of Africa’s economies. With the right support from financial institutions, they could drive unprecedented growth and transformation
across the continent through an ecosystem approach.
In October 2020, a partnership between Absa and the Mastercard Foundation set out to redefine the role of small businesses in Ghana’s economic transformation. At the heart of this initiative - the Absa Young Africa Works project - was a bold ambition: to create thousands of jobs by 2025. It was a deliberate investment in the country’s entrepreneurial ecosystem, positioning small- and medium-sized enterprises (SMEs) as engines of empowerment and economic resilience.
Since its inception, the project has trained over 6,700 SMEs in entrepreneurship, financial management, and digital tools, equipping them to attract investment and scale their operations. It has delivered US$100 million in subsidised loans to more than 6,000 businesses, prioritising women- and youth-led enterprises in sectors like agribusiness and fintech. By mid-2024, these efforts had created nearly 25,000 jobs and facilitated an investment of GHS1.1 billion in 6,296 SMEs.
The Absa Young Africa Works project is a case study in what can happen when financial institutions step beyond traditional banking to become enablers of inclusive growth. Similar initiatives by the bank are underway across the continent, providing trade finance, working capital, tailored lending solutions, innovative banking services, access to markets, and business development programmes in countries like Zambia, Botswana, Tanzania, Kenya, Uganda, and South Africa. This focus on SMEs is not incidental - it is imperative.
Across sub-Saharan Africa, SMEs represent over 90% of all registered businesses and contribute approximately 50% to the region’s total GDP, according to the African Union. They are the critical interface where macroeconomic policy meets grassroots impact, serving as nodes through which economic opportunities are decentralised, wealth is redistributed, and innovation is catalysed at scale.
But their significance also lies in their potential to stabilise Africa’s economies. According to the International Labor Organization, nearly 83% of employment in Africa and 85% in Sub-Saharan Africa is informal, absorbing many of the continent’s young employment seekers - an informality that also, however, complicates financial inclusion and exacerbates inequality. SMEs, when nurtured, represent the bridge between informal survivalist activities and structured economic participation which has the potential to create a ripple effect of socioeconomic transformation uniquely positioned to leverage Africa’s inherent comparative advantages.
Providing support, however, is not the only means of fostering an environment for more SMEs to emerge. While Africa is home to countless entrepreneurs innovating across sectors, many start businesses out of necessity rather than opportunity, driven by the lack of access to formal employment. The challenge, therefore, is not only to create more small businesses but to enable the existing ones to scale. Africa needs its SMEs to evolve into larger enterprises capable of generating high-value jobs, integrating into global markets, and fostering a multiplier effect across industries.
To achieve this, financial institutions must rethink their role in empowering African SMEs - not as lenders or service providers, but as strategic enablers of economic transformation. A deliberate shift is then needed toward designing solutions that address the financial and non-financial barriers SMEs face, while recognising that these businesses are not at all monolithic.
Absa, for example, combines tailored financial solutions with capacity-building programmes, access to digital platforms, market-linkage initiatives, and advisory services that help SMEs across Africa start up or scale their operations - a multidimensional approach that aligns capital with capability.
“SMEs, when nurtured, represent the bridge between informal survivalist activities and structured economic participation”
The end goal is not simply the growth of individual enterprises but the development of interconnected ecosystems that catalyse structural change across industries and borders.
Consider the potential of SMEs in agribusiness or renewable energy. Their success often hinges on their ability to integrate into supply chains, access new markets, or adopt innovative technologies. A bank that understands this doesn’t just offer capital - it works to create the conditions in which that capital becomes catalytic. This might mean enabling partnerships with logistics providers to ensure products reach global markets, or working alongside governments to streamline cross-border trade processes under initiatives like the African Continental Free Trade Area (AfCFTA). Whether through digital platforms that link SMEs to buyers or regional forums that bring together entrepreneurs across industries, the focus would be on building the relational infrastructure that underpins successful ecosystems.
At the same time, banks should embed knowledge and capacitybuilding into their strategies. This means equipping SMEs with the tools to innovate and compete. For example, through SME hubs or innovation centres, banks can provide training in export readiness, access to intellectual property expertise, or support in adopting sustainable business practices. These hubs can also foster collaboration between SMEs, enabling them to co-create solutions and share resources.
But banks cannot build these ecosystems in isolation - they must work alongside governments, development finance institutions, and private sector actors to align incentives and resources. Public-private partnerships (PPPs) are particularly effective in sectors like renewable energy or infrastructure, where largescale projects require both public oversight and private capital. By acting as intermediaries, banks can bridge the gap between policy objectives and market realities, ensuring that SME development is both inclusive and commercially viable.
Saviour Chibiya Chief Executive for Absa Regional Operations
One should also consider that these ecosystems are dynamic, shaped by changing market conditions, technological advancements, and shifting consumer demands. Banks will need to design interventions that evolve alongside these realities, as the tools and support mechanisms that African SMEs need today may differ entirely from those required tomorrow.
What emerges from this approach is not only the success of individual businesses but the strengthening of industries, the acceleration of innovation, and the creation of resilient economies that transcend borders.
For African banks, this is not a deviation from their purpose - it is an expansion of it, aligning their operations with the broader goal of sustainable, inclusive growth across the continent.
