Over 300 entrepreneurs, investors and trailblazers to converge in Johannesburg for the Festival of Entrepreneurship, to accelerate inclusive entrepreneurship and enterprise growth across the continent

Today, over 300 leading entrepreneurs, investors and ecosystem enablers gathered at the Marriott Hotel, Melrose Arch, for the Festival of Entrepreneurship (FOE) 2025, a high-impact, full-day event dedicated to accelerating entrepreneurship in South Africa and beyond.

Themed around the African Development Bank’s High 5 priorities – energy, agriculture, industrialisation, integration and quality of life – the festival focuses on actionable strategies to unlock inclusive growth and scalable innovation through entrepreneurship. With a curated agenda of keynotes, panels and masterclasses, FOE 2025 is set to unpack the pillars that drive successful entrepreneurial ecosystems, including access to finance, capacity building and strategic collaboration.

Attendees will hear from industry leaders, funders, township economy champions, business support specialists and seasoned entrepreneurs who have successfully navigated the challenges and successes they encountered along the business journey. Discussions will span investor readiness, growth funding, public-private partnerships and the future of youth- and women-led businesses in Africa.

Absa Group, as headline sponsor, brings its deep-rooted commitment to empowering entrepreneurs to the event. With a strong presence in the small and medium enterprises (SME) ecosystem, Absa continues to foster inclusive economic participation and long-term business sustainability.

“At Absa, we believe that entrepreneurship is not only a catalyst for economic growth but also a vital engine for job creation and innovation. Through our collaboration with FOE 2025, we are reinforcing our mission to empower entrepreneurs with the tools, funding and support they need to thrive,” says Ronnie Mbatsane, Group Managing Executive: SME Segments at Absa.

FOE 2025 is supported by partners including the Industrial Development Corporation (IDC), Small Enterprise Development Finance Agency (SEDFA), Telkom and National Empowerment Fund (NEF), with IDF Capital leading the programme curation and hosting the event.

Attendees will participate in masterclasses on investor readiness, financial planning, branding and tendering strategy, which will provide practical knowledge and one-on-one engagement with subject matter experts.

Follow the event:  @FestivalOfEntrepreneurship | Hashtag: #FOE2025

For media queries, please contact:

• Albertina Maseko: Albertina.Maseko@absa.africa

• Kabelo Chabalala: Kabelo@onpointpr.co.za

• prmedia@absa.africa

The minibus taxi industry is a cornerstone of South Africa’s economy, which is why Absa and leading commercial vehicle manufacturer Foton South Africa are partnering to empower the operators of this vital sector and small-business owners alike.

A year after launching Foton Finance – a product by Absa, the two organisations are expanding their partnership this week through the launch of Foton Taxi Finance, a finance solution that makes minibus taxi ownership more affordable, faster, and sustainable for taxi operators and Small and Medium Enterprises (SMEs).

For the first time, taxi operators can secure ownership of Foton’s petrol or diesel Asambe minibus taxis in just four years, making it easier for those wanting to upgrade or grow a modern, reliable fleet. The offer also makes room for several optional extras such as the installation of app-based taxi management system RUTCO in the vehicle, to enhance operational efficiencies.

“We’re offering competitive monthly instalments, starting at below R12 000, to turbo-charge a taxi operator, driver, or small-business owner’s transport capabilities. Research has shown that more SMEs require reliable, affordable vehicles to expand their businesses, and naturally, this applies directly to the minibus taxi industry, where the quality and safety of your vehicle is integral,” says Charl Potgieter, Managing Executive for Absa Vehicle and Asset Finance.

“Recent data has suggested the South African minibus-taxi industry has created economic opportunities for taxi entrepreneurs, and has an annual turnover of R38-billion to R50-billion. However, this doesn’t take into account the knock-on economic benefits of reliable transportation for workers and entrepreneurs alike,” he continued.

Foton Taxi Finance also offers a free Financial Education course for every taxi financed, and when completed, will unlock a series of other benefits, including a free first service at an associated Foton Dealership.

“Financial education is an example of Absa’s commitment to being a force for good in society, because we understand that a financially confident business owner is a successful business owner. That’s why we hope we can share some of our knowledge to the taxi industry and any transport-focused small business, as partners, through this new solution,” said Fulufhelo Mandane, Executive: Strategic Partnerships at Absa Vehicle and Asset Finance.

This week’s launch was attended by key stakeholders from the taxi industry, SME sector, and Foton representatives, all to experience the Asambe Taxi and benefits that Foton Taxi Finance provides.

“We understand that South Africans need robust, high-performance vehicles that can withstand local conditions whether it’s moving people across urban centres or transporting goods over challenging terrain. Our goal is to offer a wide range of sustainable reliable mobility solutions. This partnership with Absa enables us to better support a variety of industries across the country, helping them grow their livelihoods and contribute meaningfully to the local economy,” said Marius Smal, Chief Executive Officer of Foton South Africa.

As a leading global manufacturer of commercial vehicles, Foton’s diverse range of trucks, vans, and passenger vehicles are designed to meet the evolving needs of businesses and individuals alike. Powered by cutting-edge engineering and a passion for excellence, Foton South Africa has reiterated its commitment to providing the next generation of vehicles that combine advanced technology, superior performance, and unparalleled reliability.

Exploring how together we can advance regional integration and drive inclusive industrial development within the AfCFTA.

Absa is proud to partner with Trade and Industrial Policy Strategies (TIPS) for the annual TIPS Forum, taking place from 30 to 31 July 2025 at the IDC Auditorium in Sandton, Johannesburg, with a wider audience joining virtually. 

Themed “The African Continental Free Trade Area (AfCFTA), Regional Integration and Industrial Development”, this year’s forum will explore how the AfCFTA can be a catalyst for industrial growth, cross-border trade and deeper economic integration across Southern Africa. 

As part of the forum’s knowledge contributions, Absa’s Corporate and Investment Banking (CIB) team will share a research paper proposing a new conceptual framework centred on the design and operationalisation of regional industrial hubs. 

Said Stephen Seaka, Managing Executive: Public Sector and Growth Capital Solutions,  at Absa CIB: “The real power of the AfCFTA lies in implementation. We believe that through meaningful partnerships and platforms like the TIPS Forum, public and private sectors can co-create industrial pathways that accelerate Africa’s inclusive growth. This is how we shift from ideas to infrastructure, from intention to impact, because transformation depends on collaboration, and our role is to enable both.” 

Absa takes a holistic, ecosystem-based view of economic development in Africa, recognising the continent not as a collection of isolated markets or sectors, but as an interconnected landscape of opportunity. With a strong Pan-African presence, the bank facilitates cross-border trade and investment in alignment with the ambitions of the AfCFTA. Through a profound understanding of regional interdependencies and the deployment of innovative trade and development finance solutions, Absa is uniquely positioned to drive integration, unlock shared economic value and support inclusive growth across the continent. 

David Mparutsa, Pan-Africa Head: Enterprise and Supplier Development at Absa CIB, will present a new conceptual framework for regional industrial integration in Africa at the forum.  

The TIPS Annual Forum is widely regarded as a critical platform for evidence-based, policy-relevant dialogue. This year, over 150 in-person delegates and up to 300 virtual participants are expected to attend, representing a cross-section of voices from government, business, academia and civil society. Absa’s investment in this forum extends beyond funding. It’s about catalysing real, regional progress.  

“Whether through value chain development, trade finance innovation or institutional partnerships, we’re focused on helping Africa move from ambition to delivery. The continent’s growth story is being written in real time, and we’re proud to contribute to the pages that follow,” said Mparutsa. 

“Inclusive development doesn’t happen by chance; it’s shaped through dialogue, co-creation and decisive action. TIPS continues to convene policy conversation that promotes practical, regional outcomes. As a proudly Pan-African bank, we support a platform dedicated to unlocking long-term opportunities across the continent,” said Dr Steven Zwane, Acting Managing Executive: Stakeholder Engagement at Absa Group.  

“Absa’s funding of this year’s forum aligns with our broader strategic positioning on the continent, including our contribution to global policy platforms such as the G20 and B20, ensuring that Africa’s voice is heard on trade, investment and inclusive growth,” Zwane added. 

Looking to the future: participation of the private sector in initiatives such as the annual TIPS Forum remains essential in shaping an integrated Africa capable of competing globally, connecting meaningfully and growing collectively. Through such collaboration, dialogues and engagements that are followed by intentional actions, Africa’s story of industrialisation and trade is not only being imagined, but being realised.  

“We thank Absa for their support and contribution towards this forum, and for thereby highlighting their commitment to Africa’s regional integration and industrial transformation,” said Dr Saul Levin, Executive Director at TIPS. 

As a strategic partner at this year’s TIPS Forum, Absa reaffirms its commitment to Africa’s development priorities, not only through financial solutions, but also through insights, collaboration and institution-building. This association aligns with the Group’s broader strategy to drive industrial development, enable cross-border trade and support regional integration across the continent.  

For media queries, please contact:

prmedia@absa.co.za 

Investment sentiment in South Africa’s residential property market remained elevated in the second quarter of 2025, with Absa’s latest Homeowners Sentiment Index (HSI) recording an 84% positive response.

This marks the strongest consecutive three-quarter performance since the Index was launched in 2015, underscoring sustained consumer confidence in property as a long-term investment asset.

“Property investment is largely driven by the common goal of owning a stable, high-return asset, along with the growing awareness of the benefits of earning additional or passive income,” said Nondumiso Ncapai, Absa Home Loans Managing Executive. “With many South Africans optimistic about economic recovery, there is increasing recognition of property’s potential to generate value now and build wealth for future generations.”

The positive outlook for property as an investment is underpinned by several key perceptions among South African consumers. Over half (53%) believe that property consistently gains value over time, while 52% see it as offering good returns. Nearly half (48%) view it as a reliable source of passive income, and 47% cite strong demand for rental properties as a motivating factor. Looking ahead, 42% anticipate continued growth in demand, reinforcing confidence in property’s long-term investment potential.

At the same time, investors remain cautious about several risks. Chief among these is concern over the broader economic climate, with 51% citing poor economic performance as a key deterrent. Other concerns include the weak rand (33%), high property prices (36%), and affordability challenges among tenants – particularly in the context of job insecurity and unemployment – with 29% worried that tenants may be unable to pay rent and 27% highlighting broader concerns about labour market stability.

The Absa HSI is a leading indicator of the overall state of consumer confidence in South Africa’s property market. In the second quarter of 2025, overall homeowner sentiment rose by one percentage point to 86%, suggesting that persistent economic concerns have not significantly dampened consumer confidence. The uplift was supported by easing inflation and expectations of stable or gradually declining interest rates.

Ongoing semigration shifts were also noted in the HSI report. The Western Cape and Eastern Cape continue to see a positive net migration over the most recent quarter, similar to levels observed in the previous quarter. Gauteng remains the biggest net loser of property owners, with a 24% increase in net outward migration.

Looking ahead, a further interest rate cut anticipated in July, according to the Absa house view, should help sustain the stability in consumer sentiment this market has enjoyed in the last year, said Ncapai.

To view the full report, visit our Homeowner Sentiment Index site 

More than 250 colleagues gathered at Sandton Convention Centre for the Rise Against Hunger, Food Packaging event, packing over 71,000 meals for ECD centres across South Africa

In honour of Nelson Mandela International Day, on 18 July 2025, Absa Group brought together an estimated 250 colleagues at the Sandton Convention Centre to take part in the Rise Against Hunger-Food Packaging event. This drive saw Absa employees packing over 71,000 nutritious meals, which will be distributed to Early Childhood Development (ECD) centres nationwide.

“Mandela Day is a reminder for all of us to pause and think about other people, especially those in need. It is a call to action and to show up for others in meaningful ways. For us at Absa, it is not just a day on the calendar, it is the ethos of what we do above banking services. It is an expression of who we are, a force for good,” says Dr. Steven Zwane, Managing Executive of Corporate Citizenship at Absa.

The Rise Against Hunger Food Packaging event forms part of Absa’s broader Mandela Month initiatives, reinforcing the bank’s commitment to driving meaningful social impact through bringing our employees along.

“Through the Rise Against Hunger drive, we are assembling more than meal packs; we’re restoring dignity, connection and hope for the future. This initiative is an extension of our strategic focus on embedding entrepreneurial and skills-based volunteering into everything we do.”

The 2025 event builds on the success of 2024, where Absa colleagues across South Africa participated in food-packing activities with Rise Against Hunger to support vulnerable communities and ECD facilities. Beyond the meals, the drive fosters purpose, unity, and visible impact.

Zwane concludes: “Our ambition is to see at least 25% of our 36,000 colleagues across the group volunteering, and not only on Mandela Day, but throughout the year. It’s about being a Force for Good in everything we do; whether it is business, in community or in the way we show up for each other.”

Absa’s Colleague Volunteering Programme empowers employees to give back to their communities in ways that matter to them. Whether it’s teaching financial literacy, supporting entrepreneurs, or packing meals, people are encouraged to get involved. The programme offers practical support like volunteering leave, grants, matched funding, and opportunities for skills-based volunteering, ensuring that it is easier for employees to make a real difference.

For Absa and its people, Mandela Day will resonate far beyond Madiba’s birthday. For every meal packed, every child reached, and every colleague inspired to give back, the bank goes above and beyond.

Absa partners with RedFest2025 to celebrate the stories of South Africa’s youth

As Youth Month kicks off, Absa is proud to spotlight its growing portfolio of programmes and partnerships that uplift and invest in South Africa’s youth. From entrepreneurship development and workplace readiness to creative expression and digital empowerment, Absa’s Youth Month campaign is designed to equip young people with the tools, confidence, and platforms to thrive.

“Youth Month is not just a calendar moment for us, it is a reflection of our long-standing commitment to see, support, and invest in young South Africans,” says Candice Thurston, Managing Executive: Brand and Marketing, Absa Group. “Whether it’s through creative platforms like RedFest, entrepreneurial programmes like JA (Junior Achievers) South Africa, Young African Entrepreneurs Institute (YAEI) and our Financial Literacy programme which aims at helping individuals and SMMEs make informed decisions, manage their finances confidently, and build long-term stability or digital tools like ReadytoWork, we’re focused on creating opportunities that empower youth to thrive. When we say We See Your Story, we mean we see potential, and we are backing it with tangible action.”

This year, one of the standout moments in Absa’s Youth Month calendar is its headline partnership with RedFest 2025, Johannesburg’s leading festival celebration of youth-led arts and culture. Hosted by Redhill School from 13 to 16 June 2025, the festival brings together thousands of people to honour the voices, talents, and stories of young South Africans.

At RedFest 2025, Absa brings its brand promise We See Your Story to life through immersive experiences and platforms that put youth expression at the centre. Highlights include:

• A reimagined Village on Oval social hub, supported by Absa and designed as a warm winter-ready space featuring live music, fire pits, artisanal vendors, and a sense of belonging.
• A high-energy Spin & Win competition offering CashSend vouchers, Takealot gift cards, and Absa-branded merchandise such as beanies, mugs, shopper bags, and caps.
• Three youth entrepreneurs, selected from the YAEI x Absa Youth
• Entrepreneurship Development Programme, will be given the opportunity to trade at the festival:
  • Eledi Home by Ellen (eledihome.com)
  • Ilanga Coils by Nomusa (www.com/ilangacoils)
  • Fibonacci Design by Katlego

Each entrepreneur will receive branded trading counters, gazebos, and business support to engage directly with over 7,000 expected festival-goers. These programmes not only provide direct exposure for these young business owners but also reinforce Absa’s commitment to building a sustainable entrepreneurship pipeline across South Africa.

In a powerful nod to youth-led creativity, Absa will also unveil an original art installation by Youth Artist Alpheus Ngoepe, who is aligned to the Absa L’Atelier programme, which is committed to supporting young artistic talent.(@alpheusngoepe). All artwork will be available for sale, with 100% of proceeds going directly to the artist. Originally from Limpopo and now based in Johannesburg, Alpheus Ngoepe is a visual artist whose work explores themes of identity, community, and urban life. His practice blends photography, painting, and text to create powerful abstract narratives that reflect the emotional and social landscapes of everyday South Africans.

Furthermore, a key cultural highlight of the weekend will be YouthFest on Youth Day (16 June), a showcase of the country’s most talented school-based performers in choir, marimba, orchestra, and dramatic arts. Absa’s sponsorship ensures that these voices are seen, celebrated, and heard on a national stage.

“RedFest isn’t just entertainment. It’s empowerment,” adds Thurston. “It’s where young people step into the spotlight not because someone gave them permission, but because they have something to say. That’s the spirit of Youth Month. That’s what We See Your Story is all about.”

Tickets for RedFest2025 are available via TicketPro for R250 per person. For the full programme, visit www.redfest.co.za and Follow the conversation on social media via #RedFest2025 #WeSeeYourStory #YourStoryMatters Instagram: @absa.southafrica | @redfestjhb