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Absa Group chairman very satisfied with Seychelles' branch

Victoria, Seychelles | August 2, 2023, Wednesday @ 12:08 in Business » FINANCE | By: Sedrick Nicette Edited By: Betymie Bonnelame | Views: 7310
Absa Group chairman very satisfied with Seychelles' branch

A delegation led by Sello Moloko, the group chairman, (3rd left) met with Seychelles' President Wavel Ramkalawan. (Seychelles Nation)

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The progress of Absa Bank Seychelles has been described as very satisfactory by the Absa Group Limited chairman who is on an official visit to Seychelles.

A delegation led by Sello Moloko, the group chairman, met with Seychelles' President Wavel Ramkalawan on Tuesday.

"We are very satisfied with the performance that we are making as an institution in Seychelles and quite comfortable with the management team," Moloko told reporters.

The two-day visit in Seychelles is the first time a high-level delegation from the Absa Group visit the island nation in the western Indian Ocean.  

Moloko explained that the meeting with the President was to discuss the plans of the country and how the financial institution can play a role in ensuring that the country reaches its objective.

"It was also to show our commitment to Seychelles as the country. We are here for the long term and we obviously want to see the economy grow and in the process, grow with the economy," he added.

One area he said that needs to be addressed is the human capital development around skills and "we are looking at ways in which can continue our role in ensuring that we develop skills in the banking space in Seychelles."

Absa Bank Seychelles is a subsidiary of Absa Group Limited with its headquarters in South Africa and subsidiaries in 12 African countries.

The bank opened in the country in 1959 as a branch of Barclays of the United Kingdom until 2000, when Barclays Bank Seychelles Limited was incorporated.

Beginning in October 2019, Barclays Bank Seychelles began re-branding to Absa Bank Seychelles Limited until February 2020, when the legal and business names of the bank changed to Absa Bank Seychelles Limited.

"I have been chairperson of the group only since April and so I wanted to ensure that in my role I get to understand the franchise as much as I can," said Moloko, who added that he has been visiting all of Absa Group's banks, with Seychelles being the second to last of these countries that I am visiting," said Moloko.

During their visit to Seychelles, the delegation also had the chance to interact with Absa Seychelles customers, staff and other local partners in a networking event held at Eden Bleu Hotel on Tuesday evening.

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Tags: Absa Group Limited, Absa Bank Seychelles

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