Absa Bank Zambia PLC

What Absa Bank Zambia PLC does

Absa Bank Zambia PLC is a Zambian-licensed commercial bank headquartered in Lusaka that provides a full-spectrum retail, SME, and corporate banking platform to individuals, businesses, and large corporates operating in the Republic of Zambia. The bank operates three primary segments — Personal Banking (current and savings accounts, personal and home loans, credit cards including Platinum and Visa Infinite, and insurance products such as credit life, funeral cover, retrenchment cover, travel insurance, and hospital cash back), Business Banking/SME (working capital, business loans, and trade mission support), and Corporate and Investment Banking (large-scale financing, advisory, and bond arrangement mandates). It is regulated by the Bank of Zambia under licence No. BL002/1918B.

The bank distributes products through an integrated multi-channel infrastructure: a physical branch network spanning Lusaka (headquarters at Absa House on Kelvin Siwale Road), Kitwe, Livingstone, Monze, Kabwata, Mutaba, and Centro Mall; digital channels including the Absa Banking App (iOS and Android), Absa Access internet banking platform, and the NovoFX foreign exchange app; an ATM network; and a toll-free contact centre on 5950. In 2020 it introduced contactless NFC payment technology and embedded digital profiling and automated decisioning tools. The bank also runs payment-integration partnerships with MTN Zambia, Jumo, ZRA, and the University of Lusaka.

Absa Bank Zambia generates revenue through interest income on personal, scheme, and home loans plus credit card financing; transaction and account fees governed by Bank of Zambia directives (the bank fully complied with BOZ removal of unwarranted charges effective 4 September 2018); recurring fees on credit cards and insurance products; and savings-account interest spreads. It is a subsidiary of Absa Group Limited, a JSE-listed diversified financial services group (ticker ABSP) operating in 12 African countries with more than 1,000 branches, approximately 10,000 ATMs, and a balance sheet exceeding USD 91 billion as at 30 June 2019. The entity was renamed from Barclays Bank Zambia PLC on 10 February 2020 following Absa Group's separation from Barclays PLC, which retains a 14.9% stake in the parent group.

Name

Absa Bank Zambia PLC

Legal name

Absa Bank Zambia PLC

Website

https://absa.co.zm

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

251–500 employees

Short description

Absa Bank Zambia PLC is a Bank of Zambia-regulated commercial bank in Lusaka offering retail, SME, and corporate banking products across current accounts, loans, credit cards, insurance, and FX, distributed via branches, mobile and internet banking, and a toll-free contact centre. It is a subsidiary of JSE-listed Absa Group Limited.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

National Commercial Banks (6021), Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Credit Cards & Revolving Credit (FSABAAAC)

akta.pro secondary industries

Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Commercial banking
• Corporate investment banking
• Digital banking platforms
• Consumer credit lending

Headquarters

HQ city

Lusaka, Lusaka

HQ country

Zambia

HQ region

Africa

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income: Revenue generated from interest on personal loans, scheme loans, home loans, and credit card financing
2. Transaction and Account Fees: Banking fees and charges for account maintenance, transactions, ATM withdrawals, and other banking services as outlined in the personal banking tariff guide
3. Credit Card Services: Revenue from credit card operations including Platinum credit card and Visa Infinite credit card products with associated fees and merchant commissions
4. Insurance Products: Credit life insurance, funeral cover, retrenchment cover, travel insurance, and Hospital Cash Back Plan
5. Savings Account Products: Interest-bearing savings accounts including Bonus Savings Account, Target Save Account, Junior Mega Account, and Instant Account

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Absa Bank Zambia PLC provides retail, business/SME, and corporate and investment banking services in Zambia. Its offering includes current and savings accounts, platinum and Visa Infinite credit cards, personal direct loans, scheme loans, home loans, insurance products (credit life, funeral, retrenchment, travel, and hospital cash back), and a Salary Advance facility, delivered via physical branches, an internet banking platform, a mobile app, and an ATM network. The bank is regulated by the Bank of Zambia under licence No. BL002/1918B.

Product overview

Absa Bank Zambia PLC offers a comprehensive retail and corporate banking platform serving Personal, Business Banking, and Corporate and Investment Banking segments. The core banking infrastructure includes Absa Access Internet Banking and the Absa Banking App for digital channel access. The product portfolio spans current accounts (Premier Current Account, Instant Account), credit cards (Platinum Credit Card, Absa Visa Infinite Credit Card), personal financing (Personal Direct Loans, Scheme Loans, Home Loans), and savings solutions (Bonus Savings Account, Target Save Account, Junior Mega Account). Insurance products include Credit Life, Funeral Cover, Retrenchment Cover, Travel Insurance, and Hospital Cash Back Plan. Specialty products include the NovoFX App for foreign exchange, Salary Advance for early wage access, and Absa Pay for digital payments. The bank operates across multiple physical branches supported by ATMs and digital banking channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Premier Current Account Primary checking/current account tailored for everyday personal banking needs with various features and benefits.
• Bonus Savings Account Interest-bearing savings account with bonus interest features for regular savers.
• Target Save Account Savings account designed to help customers save towards specific financial goals with targeted savings features.
• Junior Mega Account Savings account designed for children and young savers to encourage early financial literacy and saving habits.
• Instant Account Hybrid savings/current account offering flexible banking combining features of current and savings accounts.
• Platinum Credit Card Premium credit card offering exclusive benefits and rewards for personal cardholders.
• Absa Visa Infinite Credit Card Premium Visa credit card offering exclusive travel, lifestyle, and retail privileges with merchant partners locally and internationally.
• Absa Personal Direct Loan Personal loan product designed for individual financial needs including debt consolidation, home improvements, and other personal expenses.
• Scheme Loan Loan product available through employer schemes or organisations for staff members.
• Home Loans Mortgage and housing finance products for purchasing or building residential property.
• Credit Life Insurance Insurance product covering outstanding loan balances in case of death, disability, or other covered events.
• Funeral Cover Insurance product providing financial support for funeral expenses to protect family members.
• Retrenchment Cover Insurance product that provides income protection in case of job loss or retrenchment.
• Travel Insurance Insurance coverage for travel-related risks including medical emergencies, trip cancellations, and lost baggage.
• Hospital Cash Back Plan Health insurance product providing cash benefits to cover hospitalisation expenses and related costs.
• Salary Advance Advance salary facility allowing employees to access a portion of their earned salary before their regular payday.
• Absa Pay Digital payment solution enabling customers to make payments using Absa banking services.
• Absa Banking App Mobile banking application available on iOS and Android enabling customers to access accounts, conduct transactions, and manage finances on-the-go.
• Absa Access Internet Banking Online banking platform allowing customers to access and manage their accounts, conduct transactions, and access banking services via the internet.
• NovoFX App Foreign exchange application enabling customers to access currency exchange services and manage foreign currency transactions.
• Contactless Payment Technology NFC-based payment technology allowing tap-to-pay transactions via Visa cards for enhanced customer convenience.
• Corporate and Investment Banking Services Comprehensive corporate banking, capital markets, and investment banking services for large corporate clients including bond issuance arrangement (e.g., Dangote Cement PLC NGN 100 billion bond).
• Business Banking / SME Solutions Business banking products including business loans, financing solutions, SME support, and trade missions for small and medium enterprises in Zambia.

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core, minor and moderate.

• Absa Group LimitedcoreOthersAbsa Group Limited is the parent company of Absa Bank Zambia PLC. The Group is listed on the Johannesburg Stock Exchange in South Africa and is one of Africa's largest diversified financial services groups offering integrated products across personal and business banking, corporate and investment banking, and wealth, investment management and insurance. The Group has presence in 12 African countries.
• WaterAidminorStrategic or Co-development PartnerAbsa Zambia partners with WaterAid to support the COVID-19 Kutuba Campaign, demonstrating corporate social responsibility and community health support initiatives.
• World Vision ZambiaminorStrategic or Co-development PartnerAbsa Zambia partnered with World Vision Zambia to hand over a newly constructed 1x3 classroom block and COVID-19 materials to the Ministry of General Education, supporting education infrastructure.
• Zambia Football Association (FAZ)moderateGTM or Marketing PartnerAbsa Bank Zambia has a long-standing sponsorship of the Absa Cup football tournament in partnership with FAZ. The bank invested K3.8 million in the 2020 Absa Cup Tournament and K3.8 million in the 2021 Absa Cup Tournament.
• MTN ZambiaminorStrategic or Co-development PartnerPartnership between Barclays (now Absa) and MTN and ZRA, likely related to mobile money or financial services integration.
• University of LusakaminorStrategic or Co-development PartnerPartnership allowing payment of University of Lusaka fees using Absa's eCommerce platform, supporting education sector financial transactions.
• Zambia Revenue Authority (ZRA)moderateStrategic or Co-development PartnerPartnership between Barclays (now Absa), MTN, and ZRA for financial services, likely related to tax collection or mobile money integration.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Regional players

• CRDB Bank: Leading Tanzanian commercial bank with a growing regional footprint across East Africa; a comparable East/Southern African retail and corporate banking franchise that informs the regional competitive context for Absa Bank Zambia.
• KCB Bank Kenya: Major Kenyan-headquartered bank with operations across East Africa and digital-led retail banking; relevant as a regional peer showcasing how digital and cross-border expansion can scale banking franchises outside the home market.

Broad incumbents

• Standard Bank Group: Africa's largest banking group by assets and parent of Stanbic Bank Zambia; a broad incumbent whose continental scale and product breadth set the competitive benchmark for pan-African subsidiaries including Absa Bank Zambia.
• Absa Group Limited: JSE-listed parent company of Absa Bank Zambia PLC and one of Africa's largest diversified financial services groups; relevant as the controlling entity whose strategy, capital, and shared services shape the Zambian subsidiary's competitive position.

Direct peers

• Ecobank Zambia: Subsidiary of Ecobank Transnational Incorporated offering retail, SME, and corporate banking in Zambia; comparable as another pan-African banking group subsidiary competing head-to-head with Absa Bank Zambia.
• Standard Chartered Bank Zambia: International bank offering personal, SME, and corporate banking in Zambia with strong trade finance and wealth capabilities; comparable to Absa Bank Zambia as another foreign-owned full-service competitor in the Zambian market.
• First National Bank (FNB) Zambia: South African-owned digital-first commercial bank offering personal and business banking in Zambia; competes with Absa Bank Zambia for retail and SME customers, particularly on digital experience.
• Zanaco (Zambia National Commercial Bank): One of the largest locally headquartered commercial banks in Zambia providing personal, business, and corporate banking — a direct competitor to Absa Bank Zambia with a strong domestic distribution network.
• Stanbic Bank Zambia: Subsidiary of Standard Bank Group and one of the largest full-service commercial banks in Zambia, offering personal, business, and corporate banking products in direct competition with Absa Bank Zambia across the same customer segments.

Others

• MTN Zambia: Mobile network operator and partner of Absa Bank Zambia in financial inclusion initiatives; an ecosystem participant whose mobile money platform intersects with — and potentially disintermediates — basic banking services in Zambia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/AbsaZambia
• YouTubeyoutube.com/channel/UCfUTiZ2vX6t8ZSHoYRWPBGA
• Facebookfacebook.com/AbsaZambia
• LinkedInlinkedin.com/company/absa-bank-zambia-plc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Absa Bank Zambia PLC