Reuters published on 31 January 2024 an article titled "S. Africa's ABSA aims to Harness Chinese Corporate Africa Push."
In recent decades, China's involvement in Africa has been defined by large. government loan-backed projects. Johannesburg-listed ABSA Bank believes that trend is changing, and the Chinese private sector is the wave of the future. As a result, ABSA is opening a non-banking subsidiary in Beijing to allow the bank to better understand the needs of new clients. ABSA sees Chinese firms moving deeper into technology, telecoms, light manufacturing, and agriculture in Africa.
