absa bank zambia

What absa bank zambia does

Absa Bank Zambia PLC is a regulated commercial bank in Zambia operating under Bank of Zambia licence No. BL002/1918B (registered number 119710006444). The bank was formerly known as Barclays Bank Zambia PLC and rebranded to its current Absa identity on 10 February 2020 following Absa Group Limited's separation from Barclays PLC. It is a wholly-owned subsidiary of Absa Group Limited, a diversified pan-African financial services group listed on the Johannesburg Stock Exchange with a balance sheet exceeding USD 91 billion and operations spanning 12 African countries.

The bank serves three primary customer segments: personal banking (current accounts, savings, personal loans, home loans, credit cards, insurance, salary advance), business banking (SMB financing and company credit cards), and corporate and investment banking (large corporate clients with dedicated relationship managers). Its product portfolio includes the Absa Access internet banking platform, the Absa Banking App (iOS and Android), Premier Current Account, Platinum and Visa Infinite Credit Cards, personal and scheme loans, home loans, and a suite of insurance products (Credit Life, funeral cover, retrenchment cover, travel insurance, Hospital Cash Back Plan).

Revenue is generated through interest income on lending products (personal loans, home loans, scheme loans, credit cards), transaction fees on banking services, fees on credit card operations, insurance product premiums, and net interest spreads on deposits. Distribution is multi-channel, combining physical branches, ATM network, Absa Access online banking, the mobile app, phone banking (5950), and dedicated corporate relationship management teams. The GTM motion is sales-led with both retail branch banking and enterprise field sales for corporate clients. Registered headquarters is at Absa House, Stand No. 2374, Kelvin Siwale Road, Show Grounds, Lusaka, Zambia.

Name

absa bank zambia

Legal name

Absa Bank Zambia PLC

Website

https://absa.co.zm

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Absa Bank Zambia PLC is a regulated commercial bank in Zambia offering personal, business, and corporate banking services—including current accounts, savings, loans, credit cards, insurance, and digital banking—to retail, SME, and corporate customers across Zambia.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

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

SIC

National Commercial Banks (6021), Personal Credit Institutions (6141)

akta.pro primary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• Corporate banking
• Consumer lending
• Digital banking
• Credit cards

Headquarters

HQ city

Lusaka

HQ country

Zambia

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Revenue generated from interest on personal loans, home loans, scheme loans, and credit card lending to customers.
2. Transaction Fees: Fees charged for banking transactions including ATM withdrawals, transfers, and other service charges 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.
4. Insurance Products: Income from insurance products including Credit Life, funeral cover, retrenchment cover, travel insurance, and Hospital Cash Back Plan.
5. Savings and Current Account Services: Deposit-taking from current accounts, savings accounts including Bonus Savings Account, Target Save Account, Junior Mega Account, and Instant Account.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Absa Bank Zambia PLC provides retail, business, and corporate banking services in Zambia, including current and savings accounts, personal loans, home loans, scheme loans, salary advances, credit cards (Platinum and Visa Infinite), and insurance products (Credit Life, Funeral Cover, Retrenchment Cover, Travel Insurance, Hospital Cash Back Plan). Services are delivered through branches, ATMs, internet banking (Absa Access), a mobile banking app, and a phone banking contact centre. The bank is a wholly-owned subsidiary of Absa Group Limited, a Johannesburg Stock Exchange-listed African financial services group.

Product overview

Absa Bank Zambia PLC offers a comprehensive suite of personal and business banking products and services. The core banking platform consists of Absa Access (Internet Banking) and the Absa Banking App for digital channels, complemented by a range of deposit products including Premier Current Account and various savings accounts (Bonus Savings, Target Save, Junior Mega, and Instant Accounts). The credit and lending portfolio includes Platinum and Visa Infinite Credit Cards, Personal Direct Loans, Scheme Loans, and Home Loans. Additional offerings include Salary Advance for early wage access, and insurance products such as Credit Life, Funeral Cover, Retrenchment Cover, Travel Insurance, and Hospital Cash Back Plan. The bank also provides self-service financial tools including loan and home loan calculators.

Differentiator

Problem solved

Functional benefit

Products and services

• Premier Current Account Everyday banking current account tailored to individual banking needs for personal banking customers in Zambia.
• Absa Access (Internet Banking) Online banking platform allowing customers to access accounts, transfer funds, pay bills, and manage finances via web browser.
• Absa Banking App Mobile banking application for smartphones providing account access, transactions, and banking services on iOS and Android devices.
• Platinum Credit Card Credit card offering exclusive benefits for personal banking customers to support everyday spending and credit needs.
• Absa Visa Infinite Credit Card Premium Visa credit card offering exclusive travel, lifestyle, and retail privileges with merchant partner savings locally and internationally.
• Absa Personal Direct Loan Personal loan product for individuals to finance various personal needs and expenses.
• Scheme Loan Loan product available through employer or association schemes for eligible customers.
• Home Loan Mortgage and financing solution for purchasing or refinancing residential property.
• 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.
• Junior Mega Account Savings account for children and young savers to encourage financial literacy from an early age.
• Instant Account Hybrid savings account combining features of traditional and digital banking for immediate access to funds.
• Absa Salary Advance Advance salary facility allowing employees to access a portion of their earned salary before their regular payday.
• Credit Life Insurance Insurance product covering outstanding loan balances in case of death, disability, or retrenchment.
• Funeral Cover Insurance product providing financial support for funeral expenses to protect family members.
• Retrenchment Cover Insurance product covering loan repayments in case of job loss due to retrenchment.
• Travel Insurance Insurance product providing coverage for travel-related risks and emergencies.
• Hospital Cash Back Plan Health insurance product providing cash back benefits to cover medical expenses during hospital stays.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Absa Group LimitedcoreOthersAbsa Bank Zambia PLC is a subsidiary of Absa Group Limited, listed on the Johannesburg Stock Exchange in South Africa. Absa Group is one of Africa's largest diversified financial services groups offering integrated products and services across personal and business banking, corporate and investment banking, and wealth, investment management and insurance. Barclays PLC continues to be a key stakeholder owning 14.9% in Absa Group.

Scale indicators5 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Zambia National Commercial Bank (ZANACO): Domestic Zambian commercial bank offering retail, SME and corporate banking, lending, and digital channels. Direct domestic competitor sharing the same regulatory environment, currency risk, and customer base as Absa Bank Zambia.
• Stanbic Bank Zambia: One of Zambia's largest commercial banks offering personal, business and corporate banking, lending, and digital banking. Direct competitor to Absa Bank Zambia across the same customer segments, product categories, and Zambian market.
• Standard Chartered Bank Zambia: International commercial bank operating in Zambia with personal, business and corporate banking services. Closely comparable to Absa in international pedigree, premium retail and corporate offerings, and Zambia-only footprint.
• First National Bank (FNB) Zambia: Subsidiary of South Africa's FirstRand Group offering personal, business and corporate banking in Zambia. Directly comparable as another South African-affiliated commercial bank competing for the same premium and mass-affluent segments.
• Ecobank Zambia: Pan-African commercial bank with Zambian operations providing personal, business and corporate banking. Comparable to Absa as another multi-country African banking group operating a Zambian subsidiary with similar product breadth.
• United Bank for Africa (UBA) Zambia: Pan-African commercial bank with Zambian operations serving retail, SME and corporate customers. Comparable as another multi-country African banking group targeting similar Zambian segments with similar product suites.

Broad incumbents

• Atlas Mara / Banking Group of Zimbabwe-style African banking vehicles: Broader African banking holdings vehicle with interests in multiple African commercial banks. Comparable as an investor/operator in the same African commercial banking space where Absa Group competes.
• Standard Bank (parent-group peer via South Africa): Africa's largest banking group by assets, listed in South Africa with operations across multiple African markets. Comparable to Absa Group as a peer in pan-African commercial banking strategy, governance and capital allocation.

Emerging players

• MTN Zambia (Mobile Money): Dominant mobile network operator with MTN Mobile Money offering payments, deposits, and increasingly micro-credit in Zambia. Comparable as an emerging competitor encroaching on retail deposits, payments and consumer credit — Absa's core segments.

Regional players

• Indo-Zambia Bank (IZB): Mid-tier Zambian commercial bank offering personal, business and corporate banking services. Comparable as a domestically-licensed competitor in the same Zambian market, though smaller in scale than Absa.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 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