ENP Newswire - 16 January 2014 Release date- 14012014 - Absa Bank Ltd ( Absa ), a wholly-owned subsidiary of JSE-listed Barclays Africa Group , welcomes the announcement by the president of Sumitomo Mitsui Banking Corporation (SMBC), Mr. Takeshi Kunibe , that will result in further business cooperation between the two banks. The latest cooperation agreement signed on 12 January 2014 in Maputo, Mozambique , focuses on the development of Mozambique's natural resources, infrastructure and water security - which are all expected to deliver significant economic growth. It also confirms two previous agreements establishing the two banks as strategic partners in Asia and Africa . In May 2010 Absa agreed to support SMBC's Japanese clients with the provision of banking services in South Africa . Three years later Absa signed an agreement to expand the geographical scope of its business cooperation with SMBC to provide a wider range of support to SMBC's clients through Barclays Africa Group's extensive presence in sub-Saharan Africa. 'As part of Barclays Africa Group's journey to become the 'Go-To' bank in Africa , Absa's corporate and investment banking division will provide SMBC and its clients with access to project and infrastructure finance, trade finance and export credit finance,' said Stephen van Coller , head of corporate and investment banking at Absa . 'Backed by the global support of Barclays , this agreement underscores our commitment to the Mozambican economy and people, and further consolidates our leading position in the power and infrastructure sectors,' added van Coller . The signing ceremony was presided over by President Armando Guebuza of Mozambique , Prime Minister Shinzo Abe of Japan , Mr Kunibe , Ms. Luisa Diogo , Chairperson of Barclays Bank Mozambique, and Mr Tetsuya Kodama , Vice Chairman, Barclays Securities Japan . Contact Media Relations Call us on +27 (0) 11 350 4000 E-mail us at firstname.lastname@example.org
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