Staff Reporter

Staff Reporter

Absa Bank has opened its first branch in Moloto. Until now the closest branches were based in Mamelodi in northern Pretoria and Kwaggafontein in the neighbouring province of Mpuma-langa, both about 42km away from Moloto.

The banking outlet, situated in the Big Tree Mall on Moloto Road, is equipped with three ATMs.

Moloto is one of 50 new branches that Absa plans to open in previously disadvantaged communities across the country. The banking group said that it will increase the number of ATMs in the same areas by about 600 machines.

The new Moloto branch is large with a staff complement of 22, including branch manager Micah Mkhwanazi.

Absa said that its approach to providing banking services to the rural communities of South Africa is twofold. Firstly, the bank plans to provide accessible banking facilities to the rural and peri-urban population. Secondly, it aims to ensure that such banking facilities are supported by appropriate education on correct usage of the diversified portfolio of products.

"The branch will ensure that customers acquiring the various services on offer will be provided with pertinent information that will enable them to make educated decisions.

"Absa firmly believes in educating its customer base about its service rendering to enable consumers to maximise the benefits derived from their chosen products," the bank said recently.

The educational offering will incorporate the potential pitfalls associated with banking and the ways in which to avoid them.