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Absa Nears Tanzania Deal to Combine $3 Billion of Banking Assets

Bloomberg Technology Thursday 23 July 2026, 06:21 UTC By Loni Prinsloo 1 min read
Key Points

Absa Nears Tanzania Deal to Combine $3 Billion of Banking Assets Absa Group Ltd. is nearing a deal to combine its banking interests in Tanzania as the lender looks to increase the scale of its East African businesses, according to people familiar with the matter. The current plan is for National Bank of Commerce Ltd., 55% owned by Absa and 30% by Tanzania, to take over the assets of Absa Bank Tanzania Ltd., said the people, who asked not to be identified because the information is still...

Absa Nears Tanzania Deal to Combine $3 Billion of Banking Assets Absa Group Ltd. is nearing a deal to combine its banking interests in Tanzania as the lender looks to increase the scale of its East African businesses, according to people familiar with the matter. The current plan is for National Bank of Commerce Ltd., 55% owned by Absa and 30% by Tanzania, to take over the assets of Absa Bank Tanzania Ltd., said the people, who asked not to be identified because the information is still private. A combined entity will have about $3 billion in assets, making it the nation’s largest lender behind CRDB Bank Ltd. and NMB Bank Plc, said the people.
Absa Nears Tanzania (ORG) Tanzania (LOCATION) East African (ORG) National Bank of Commerce Ltd. (ORG) Absa (ORG) Absa Bank Tanzania Ltd. (ORG) CRDB Bank Ltd. (ORG) NMB Bank Plc (ORG)
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