ABSA, SA’s largest bank by assets, acquired a controlling 70% stake in Tanzania’s largest commercial bank, the National Bank of Commerce, on Friday, Absa said in a statement. The stake will cost R121-million and the deal, which forms part of the Tanzanian government’s goal of financial sector reform, becomes effective from April 1. Absa is expanding in southern Africa and already has a 36% share of the Bank Windhoek of Namibia and a 26% ownership of the Commercial Bank of Zimbabwe.