1. Homepage
  2. Equities
  3. South Africa
  4. Johannesburg Stock Exchange
  5. Absa Group Limited
  6. News
  7. Summary
    ABG   ZAE000255915


End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 05/16
168.79 ZAR   +0.79%
04/29ABSA : Interest Payment Notification - ABGI and BIABS
04/26ABSA : Disposal of securities by Barclays PLC
04/25ABSA : New Financial Instrument Listing - ASN842; ASN845; ASN846 & ASN847
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Absa : expands precious metal investing options in Africa

12/06/2021 | 08:32am EDT

06 December 2021

After introducing the NewGold and NewPlat exchange-traded funds (ETFs) on the Botswana Stock Exchange, Absa expands its precious metal investment options today on BSE by listing NewPalladium ETF.

NewPalladium was first listed on the ETF sector of the Johannesburg Stock Exchange on 27 March 2014 and has since been secondary listed on the Namibia Stock Exchange. It tracks the Palladium price and enables investors to invest in a listed instrument (structured as a debenture) in which each security is equivalent to approximately 1/100 ounces of real Palladium held in a secured stockpile in custody with global custodian ICBC in London UK.

Since its launch, NewPalladium has grown to over R400 million assets under management due to its healthy returns and investor appetite. It is now the third precious metal in South Africa, Namibia and Botswana, through which institutional and retail investors can securely invest directly in palladium bullion, with the added benefit of minimal administrative fees.

Supporting the richness of Africa

The Southern African Development Community (SADC) is home to some of the world's best precious metals and stones and is one of the largest exporters of minerals to the global market. Introducing another precious metal ETF in one more African country strengthens the support for local resources on the continent.

"It's Absa's belief that a good economy requires a vibrant capital market underpinned by innovative financial products. Absa has set a very good foundation in listing such products in various African markets by using products that are indigenous and precious to the SADC as the basis of the tools developed to deepen the African markets," says Michael Mgwaba, Head of Exchange-Traded Products at Absa Corporate and Investment Banking.

ETFs are among the fastest growing investment funds in major markets across the world. In addition, their attractiveness lies in their low costs, tax efficiency and stock-like features. In 2021, ETFs globally reached over US$9trillion in assets under management.

"This shows that more and more investors are using ETFs in their investment portfolios to complement existing investment strategies. We believe the introduction of alternative investments such as the precious metals funds using ETFs, will increase investor confidence to look beyond traditional asset classes and consider the richness of our African continent when choosing asset classes to invest in," says Mgwaba.


Absa Group Limited published this content on 06 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2021 13:31:07 UTC.

ę Publicnow 2021
04/29ABSA : Interest Payment Notification - ABGI and BIABS
04/26ABSA : Disposal of securities by Barclays PLC
04/25ABSA : New Financial Instrument Listing - ASN842; ASN845; ASN846 & ASN847
04/22ABSA : Interest Payment Notification - BIABS and ABGI
04/22Barclays halves its stake in South African bank Absa in ú526m sell-off
04/21FTSE 100 Lags Wider Market Amid Basic Resources Weakness
04/21ABSA : Dealings by Directors, Prescribed Officers and Company Secretary of Absa Group
04/21ABSA : ASN841 - New Financial Instrument Listing
04/21ABSA : Agreed sale of securities by Barclays PLC
04/21Barclays bolsters capital with $687 mln sale of Absa stake
More news
Sales 2022 93 077 M 5 745 M 5 745 M
Net income 2022 21 490 M 1 326 M 1 326 M
Net Debt 2022 - - -
P/E ratio 2022 6,80x
Yield 2022 8,00%
Capitalization 140 B 8 646 M 8 646 M
Capi. / Sales 2022 1,51x
Capi. / Sales 2023 1,41x
Nbr of Employees 35 267
Free-Float 86,4%
Duration : Period :
Absa Group Limited Technical Analysis Chart | ABG | ZAE000255915 | MarketScreener
Technical analysis trends ABSA GROUP LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 10
Last Close Price 168,79 ZAR
Average target price 203,10 ZAR
Spread / Average Target 20,3%
EPS Revisions
Managers and Directors
Arrie Rautenbach Group Chief Executive Officer & Executive Director
Jason P. Quinn Group Financial Director & Executive Director
Matthews Sello Moloko Chairman
Wilhelm Krige General Manager-Group Strategy
Saviour Chibiya Managing Director-Regional Operations