“Where in the world has Absa’s Moloko visited besides Seychelles?,“ is the million dollar question as Absa’s chairman, Sello Moloko is reportedly on an international roadshow to get familiar with the lender’s assets in other countries.
Moloko took the chairperson reins in April.
Seychelles News Agency yesterday reported that a delegation led by Sello Moloko, the group chairman, met with Seychelles' President Wavel Ramkalawan on Tuesday.
Moloko said he had been visiting all of Absa Group's banks, with Seychelles being the second to last of these countries that he was visiting.
“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.
Business Report reached out to Absa’s press office who by the time of going to print could not answer questions of which countries Moloko had visited or add further enlightenment of the role of the road trip.
Seychelles News Agency reported, “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.”
Moloko told reporters: “We are very satisfied with the performance that we are making as an institution in Seychelles and quite comfortable with the management team.”
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 could play a role in ensuring that the country reached 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 needed 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.
BUSINESS REPORT