Absa shareholders approve group’s B-BBEE deal
The transaction will see thousands of Absa employees become shareholders with previously disadvantaged staff eligible for a deal sweetener
05 June 2023 - 12:47
Absa Group shareholders have approved the banking group’s R10bn broad-based black economic empowerment (B-BBEE) transaction, paving the way for the company to sustainably achieve at least 25% black ownership.
At an extraordinary general meeting held on June 2, after Absa’s AGM, shareholders voted in favour of resolutions needed to give effect to the transaction, including increasing the group’s authorised share capital...
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