Absa wins second prominent metropolitan municipality mandate in Eastern Cape
Absa Bank Ltd (Absa), member of Barclays, will officially start providing full transactional banking services to the Buffalo City Metropolitan Municipality tomorrow, 1 February 2013.
The awarding of this five year mandate to the Corporate and Investment Banking division of Absa follows the bank’s recent appointment as primary banker to the Nelson Mandela Bay Metro.
“Winning this tender demonstrates our understanding of local government needs, the specialist skills we offer and our focus on adding value to client operations,” said Temi Ofong, head of Corporate Banking at the Corporate and Investment Banking division of Absa.
Ofong added the awarding of the mandate reflects the fact that public sector clients are increasingly recognising Absa’s offering as a partnership that will help achieve the developmental goals of local government.
“This latest mandate further underscores Absa’s role as market leader and key partner to public sector,” added Ofong.
Note to the editor:
About Corporate and Investment Banking at Absa:
Corporate and Investment Banking, a division of Absa Bank Limited (Absa) and a member of Barclays, is a leading South African corporate and investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.
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