Alpheus Mangale resigns from Absa board: 11 analysts rate Absa Group stock Buy

Published on 10/13/2026 at 06:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 4 percent to ZAR 58.8 billion in first-half 2026. For Absa Group stock, headline earnings rose 8 percent to ZAR 12.8 billion.

Key points in brief

Alpheus Mangale resigned from the Absa Group board effective October 8, 2026.
First-half 2026 revenue rose 4 percent to ZAR 58.8 billion.
Headline earnings increased 8 percent to ZAR 12.8 billion.
Eulerpool listed 11 Buy, 3 Hold and 0 Sell ratings in its February 1, 2026 table.

Absa Group, ZAE000255915, Illustration mit AI erstellt.

Alpheus Mangale resigned from the Absa Group board effective October 8, 2026, while 11 analysts were listed as Buy in a February 1, 2026 rating table. Innovation Village reported that Mangale cited personal reasons and future commitments for his departure.

Three dated developments

Absa Group listed the October 8, 2026 board change in its 2026 JSE announcements. The June 30, 2026 trading update marked the latest reporting sequence before the half-year figures, while the October 2, 2026 digital-asset custody launch added a new product line for institutional clients.

The board change is the immediate corporate event, but the operating figures provide the stronger numerical frame. The leadership transition therefore sits alongside a banking business that reported growth in revenue and headline earnings during the first half of 2026.

What does the H1 result mean?

According to Nairametrics on October 2, 2026, Absa reported revenue of ZAR 58.8 billion for the six months ended June 30, 2026, up 4 percent from the comparable period. Pre-provision profit also rose 4 percent to ZAR 27.4 billion, while credit impairments declined 1 percent to ZAR 7.1 billion.

Headline earnings increased 8 percent to ZAR 12.8 billion in the first half of 2026. That combination matters because revenue and pre-provision profit grew at the same 4 percent rate, while the lower impairment charge supported the faster increase in headline earnings.

Ratings remain a separate signal

Eulerpool listed 11 Buy, 3 Hold and 0 Sell ratings in its February 1, 2026 table, with an average target of ZAR 261.10. The rating snapshot predates the October board change, so it describes an earlier valuation view rather than a direct response to Mangale's resignation.

The October 5, 2026 partnership with Thunes adds an operational angle. Electronic Payments International reported that the agreement supports multicurrency clearing across additional African markets and global corridors.

Last JSE price and investor frame

Absa Group was last quoted at ZAc 21,061.00 on the JSE on October 12, 2026 at 5:00 p.m. SAST. The first-half figures show a 4 percent revenue increase and an 8 percent rise in headline earnings, giving investors two measurable operating markers alongside the board change.

The further course of trading is shown by the continuously updated real-time quote of Absa Group stock.