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Absa Wins GEPF Custody Contract to Guard South Africa’s US$215 Billion State Pension Fund

Absa's 2026 interim results confirm it has won the GEPF custody contract, taking over the safekeeping of South Africa's state workers' pension fund from Standard Bank after 30 years.

  • Absa secures US$215 billion GEPF custody contract, ending Standard Bank's 30-year tenure.
  • GEPF oversees retirement savings of 1.2 million active members and 565,000 pensioners.
  • Absa's return to African custody market aims to rebuild position in securities services.

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