Absa Bank Kenya Targets KES 100 Billion in Asset Financing Push with Launch of ABF 2.0
Absa Bank Kenya plans to deploy KES 100 billion through its revamped ABF 2.0 asset financing solution, offering faster approvals, flexible terms, and support for key sectors...
✨ Key Highlights
Absa Bank Kenya has launched an enhanced asset financing proposition, ABF 2.0, aiming to deploy KES 100 billion over the next three years to support key economic sectors.
- The bank plans to deploy KES 100 billion over three years.
- Key sectors targeted include manufacturing, trade and logistics, infrastructure, healthcare, and education, with significant improvements in financing speed and approval timelines.
- The initiative is led by Abdi Mohamed, Managing Director and CEO of Absa Bank Kenya, and supported by a dedicated Asset Financing Centre.
- Financing now features reduced onboarding-to-approval timelines (to 48 hours) and longer loan tenors (up to 84 months).
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Bolt has reached a significant investment milestone of R3 billion (€150 million) in South Africa over the past decade, solidifying the country as a key growth market for shared mobility. The ride-hailing platform's investment demonstrates the growing opportunity in South Africa's transportation sector. In a related development, ride-hailing platform inDrive partnered with payment infrastructure company dLocal to launch real-time card payments and instant driver payouts in South Africa, enabling seamless transactions for drivers and passengers. Separately, Absa Bank Kenya launched an enhanced asset financing proposition called ABF 2.0, aiming to deploy KES 100 billion over the next three years to support key economic sectors.
