Absa on Wednesday officially launched Whatsapp banking, in its latest push to become a digitally led African bank, with more than 10,000 customers already registered to date since early July. The service faces competition from WeChat, China’s biggest internet-based mobile messaging platform, which launched in Africa in 2013 and offers an array of services including money transfers, prepaid electricity and airtime purchases. Absa CEO Maria Ramos has drawn up an ambitious growth strategy to regain market share in retail banking at home, and to double sales across the continent from 6% to 12% after the bank’s separation from Barclays. To achieve this, the group is adapting to changes in customer behaviour that requires banking to be available anytime, anywhere. "As technology advances and more customers become connected, bringing banking to where our customers are is important to us, especially as we continue our journey to become a digitally led business driven by innovation," Absa’s ...

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