R2.4billion - eriinfo

The real reason Absa wrote off R2.4-billion in software

eriinfo.com2 months ago08 mins

Absa CTIO Johnson Idesoh Absa Group’s decision to take a R2.4-billion software impairment hit for the year ended 31 December 2025 is not solely because of AI – itself an accelerator of software obsolescence – but also due broader technological trends and a strategic shift in the bank’s outlook on technology. According to Absa Group…

Absa impairs R2.4-billion in software after strategy rethink

eriinfo.com3 months ago05 mins

Absa Group has written off R2.4-billion in software assets after a revision of its overall strategy led to changes in investment priorities and faster-than-expected technology obsolescence, its annual financial statements show. The software impairments – more than 13 times the R179-million written off a year earlier – were spread across the group, with the largest…