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Absa under pressure to diversify revenues
Peter Mutua, the director of Absa Customer Network and Distribution presents a symbolic Maasai attire to Absa Group CEO Kenny Fihla during his three-day visit in Kenya.
South Africa’s multinational Absa Group is putting pressure on its Kenyan unit to raise more income from non-lending activities in order to reduce the impact of falling interest rates on earnings.
The bank’s Chief Executive Officer Kenny Fihla told investors that the Kenyan and Ghanaian units have demonstrated the need for the lender to diversify its revenue sources in markets outside of South Africa.
