Absa Nears Deal to Merge Tanzanian Banks into $3bn Lender

Africa · Eastern Key Facts —The deal. Absa Group plans to fold Absa Bank Tanzania into National Bank of Commerce, creating a single lender. —The scale. The combined entity would hold about US$3 billion in assets, ranking third in Tanzania. —Ownership. Absa controls 55% of NBC; the Tanzanian government holds a 30% stake. —Context. The…