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Absa Bank has appointed South African executive Charles Russon as interim CEO, ensuring stability as the search for a permanent successor begins following the retirement of Arrie Rautenbach
This follows a recent collaboration between Absa and IFC, which resulted in a $60 million trade finance facility for Volcafe, a leading global green coffee merchant.
The facility aims to bolster Volcafe’s operations in East Africa, consequently supporting tens of thousands of coffee farmers in the region.
Rautenbach, a veteran South African banker with deep financial services expertise, holds a 0.026 percent stake (218,412 shares) in Absa Group.
Absa Group, a Johannesburg-based diversified financial services provider led by South African banking executive Arrie Rautenbach, achieved a significant milestone in its…
Rautenbach owns a minority stake of 0.026 percent, amounting to 218,412 shares in the financial services giant.
Rautenbach owns a 0.023-percent stake in the banking group, worth $1.94 million.
Absa Group shares have fallen by more than four percent since the opening of the Johannesburg Stock Exchange this morning.
Rautenbach has been with Absa since 1997.