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Absa plans IPO for Tanzania’s National Bank of Commerce

South African banking group, Absa, plans to hold an initial public offering (IPO) for Tanzania’s National Bank of Commerce (NBC), in which it has a 55.5% stake, and list it on the Dar es Salaam Stock Exchange.

Maria Ramos, Absa Group CEO

Maria Ramos, Absa Group CEO

Bloomberg quoted Absa chief executive officer, Maria Ramos, saying that the IPO would dilute the Tanzanian government’s stake and is subject to regulatory approvals.

According to Ramos, the listing should take place later in the year and would leave Absa with a 55% stake in the lender.

In a separate interview with CNBC Africa at the World Economic Forum on Africa, Ramos said that NBC is currently the third largest bank in Tanzania out of a total of 34 registered banks.

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  • Clotilde

    Hi there,

    could you please assist me and tell me who I could speak to with regard to picture usage for this shot of maria Ramos?
    Thanks

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