Absa's Africa footprint drives a third of earnings

The double-digit growth in Absa's operations across Africa highlights how geographic diversification is paying off for the JSE-listed lender, with its business outside South Africa delivering 13% headline earnings growth in the six months to 30 June.

- Liesl Peyer Moneyweb

The Africa region now contributes 32% of total revenue and 34% of group earnings.

Speaking on CNBC Africa after the group's interim results were released on Monday, new group CEO Kenny Fihla said the bank's footprint across the continent was a key differentiator.

Fihla said Absa's presence in 11 African countries gives it a strategic advantage. The task now is to change the operating model and run it on a "Pan-African basis".

He emphasised that regions outside South Africa are becoming increasingly important to Absa's growth and that the bank's footprint in these markets will expand at a much faster pace "relative to South Africa".