The Amalgamated Banks of South Africa, ABSA, was coined from the Barclays Africa Group Limited and are also known as the Barclays Africa. Barclays Africa Group limited is 62.3% owned by Barclays Bank PLC and it is listed on the JSE limited.
The group was formed through combining Absa Group Limited and Barclays’ African operations on 31 July 2013. They are one of Africa’s major financial providers, offering personal and business banking, credit cards, corporate and investment banking wealth investment management as well as Bancassurance.
Absa offers a range of investment and savings products with something to suit every need.
Once you have established your financial goals, you can select a suitable means of achieving them. For short-term goals and an emergency fund, savings products work well, since your money is available immediately or at short notice. You will also earn some interest on your savings, depending on the amount that you save, the period that you save it for or the notice term that you select.
For longer-term goals, such as saving for education or retirement, investing may be the answer. With the potential of substantial returns, comes a greater risk and, therefore, one should normally take a longer-term view when investing.
For more information on Absa, click here.
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