Demand, opportunity, and timing – these are some of the key factors driving South African consumers’ vehicle purchase decisions.

Speaking at the inaugural DealerCon today, South Africa’s premier annual gathering for the automotive retail industry, Henry Botha, Executive: Strategy & Product, Absa Vehicle and Asset Finance said: “The vehicle finance landscape is evolving, driven by data, demographics, and decisions. Women, mid-life buyers, and value-seekers are reshaping the market – and timing is everything.”

DealerCon, hosted by Cars.co.za, and sponsored by Absa, brought together leaders from motor dealerships, OEMs, financiers, insurers, and policymakers at the Sandton Convention Centre to discuss the future of automotive retail and the challenges of the evolving South African market.

Botha unpacked the journey through the decisions, the preferences, and the patterns that have defined how South Africans buy cars over the past decade.

“We’ve seen remarkable growth in vehicle finance activity. Applications have increased by 65%, averaging 5% growth per year. Income levels have risen by 35%, and the value of vehicles being financed has grown by 54%. The catch, however, is that affordability has deteriorated,” Botha added.

According to Botha, ten years ago, the average monthly instalment represented 14.3% of a customer’s income.

“Today, it’s 16.1%. That’s a significant shift. What does this tell us? It tells us that while demand is growing, consumers are stretching further. Vehicles are becoming more expensive, and incomes aren’t keeping pace. This not only signals economic strain, but also of changing priorities.”

While used vehicles continue to dominate the market – offering value, flexibility, and accessibility – new vehicles are gaining ground, especially among younger, aspirational buyers.

“When we look at manufacturer origin, we see fascinating trends: German brands remain the gold standard, especially among men and younger buyers. Chinese and Korean brands are rising fast, particularly among women and buyers aged 35 to 45. Women are open to new brands, technologies, and value propositions,” Botha explained.

On timing, Absa studied 70 000 customers over the past year to understand how long it took to make a purchase decision.

“We found that the most active period is the 30 days following the lead. There is as much activity in that single month as there is in the 6 months before and the 6 months after. Interestingly, women are more likely to apply within 30 days at 40% compared to 33% of men,” he explained.

“This is critical. It means the window of opportunity is narrow and powerful. If we want to convert interest into action, we must act fast… however, this is not just about selling more cars. It’s about understanding the customer and their needs, their timing, their mindset.”

Charl Potgieter, Managing Executive, Absa Vehicle and Asset Finance noted the generational lens in purchasing trends, with Gen Z buyers showing behaviour that’s both familiar and subtly different.

“Like previous generations, they’re constrained by income and tend to buy vehicles that match their budget and lifestyle needs. However, they are more digitally engaged, doing extensive online research before making decisions.

“They remain brand conscious and tend to stick with established brands, showing hesitancy toward newer entrants,” he explained.

Adoption of new brands was more common among older, higher income segments who are willing to take more risks. “Gen Z also values tech features and sustainability, but affordability remains their primary driver.”

The event drew close to 1 000 registrants and is billed to be a multi-year thought leadership platform through which sector stakeholders can glean practical insights, particularly for dealers.

Managing Director of Cars.co.za, Amasi Mwela thanked Absa for embracing its role as the “bank of the dealer”, adding that: “There’s been such a shift in the industry over the last 10 years… all of us have to change, adapt and move to the next frontier.”

As South Africa marks Heritage Month and the arrival of spring, Absa and the Marble Group will host the second edition of the Absa Jazz Sessions at Marble. This exclusive event takes place on Sunday, 14 September 2025, under the theme of Jazz in full bloom, celebrating renewal, heritage, and cultural pride.

Set against the Rosebank skyline, guests will enjoy an intimate evening where world-class jazz and culinary artistry combine to honour rhythm, resilience, and South African creativity.

“Heritage Month is a moment to celebrate the stories that unite us as South Africans,” says Candice Thurston, Managing Executive for Brand and Marketing at Absa Group. “The Absa Jazz Sessions shine a spotlight on the artists, chefs, and creators who bring those stories to life. At Absa, we see your story, and we believe every story deserves to be seen and celebrated, because your story matters.”

The carefully curated line-up reflects both the freshness of the season and the richness of local heritage. Kujenga Jazz Band, whose sound bridges tradition and contemporary expression, will headline the evening. Closing the night, DJ Mamthug will bring a dynamic set that bends genres and channels the vibrant energy of spring.

More than a performance, the Absa Jazz Sessions at Marble are immersive cultural journeys. Guests will also enjoy a specially designed spring-inspired menu from acclaimed chef, author, and Marble co-founder David Higgs, together with Executive Chef Jandri Niemand. Like the music, their dishes are bold, expressive, and rooted in story.

Since its debut earlier this year, the Absa Jazz Sessions at Marble has become a signature quarterly series, a closed, highly curated experience for a select circle of Absa guests and partners. Each instalment unveils a new theme, new voices, and a new way of experiencing African creativity.

“This September, Jazz in full bloom will remind guests of the beauty of renewal, the strength of our heritage, and the timeless soul of jazz. At Absa, #WeSeeYourStory and #YourStoryMatters because it is the stories of our people that continue to shape our future,” concludes Thurston.

• Leadership appointments and changes strengthen Absa’s commitment to operational excellence, innovation, and delivering exceptional value to clients across the continent.
• Absa landed its reconfigured Personal and Private Banking and Business Banking businesses in South Africa in June 2025 for better integration and enhanced customer focus. 
• By reorganising through a Pan-African purview, Absa will be streamlining its operations, simplifying organisational designs and structures, and leveraging data and technology better to deliver enhanced value to customers.

Absa Group has announced a series of strategic executive leadership appointments and changes that reinforce its commitment to driving growth, innovation, and customer-centricity across its Pan-African operations. These appointments mark a significant step in strengthening leadership capacity as the Group positions itself to deliver scaled impact and operational excellence across all markets.

Key appointments 

Charles Russon, who until June 2025 was Interim Group Chief Executive and before that, the Chief Executive: Corporate and Investment Banking, will assume a new role of Group Executive: Africa Regions, effective 1 September 2025, subject to regulatory approval. In his new role, Charles will be accountable for leading and overseeing the performance of the Group’s operations across the Africa regions and provide advisory support to the business units. The role encompasses strategic planning, financial analysis, stakeholder engagement, and adherence to regulatory standards, while also directing the development and execution of business strategy throughout the African continent in support of the Group Chief Executive. Charles will remain as a member of the Group Executive Committee and will be an Absa Group Limited and Absa Bank Limited Prescribed Officer.  We thank Charles for his leadership, especially during the transition to our new Group Chief Executive and appreciate the impact he continues to make in the Group.

Zaid Moola will join the Group as Chief Executive: Corporate and Investment Banking (CIB), subject to regulatory approval.  Zaid will join the Group on 1 December 2025 and will assume accountability as Chief Executive: CIB on 1 January 2026.  Zaid will be a member of the Group Executive Committee and will be an Absa Group Limited and Absa Bank Limited Prescribed Officer. Zaid joins the Group from Standard Bank, where he was Head of Global Markets. Prior to this, he was Deputy Head of Global Markets and Head: CIB South Africa. Zaid is a Chartered Accountant (CA(SA)) with an Advanced Management Programme from INSEAD. He is a FAIS-certified Authorised Representative and Key Individual.

Musa Motloung will join the Group as Group Strategic Risk Officer, subject to regulatory approval, reporting to the Group Chief Risk Officer, Rajal Vaidya. In this role, Musa will be a key contributor to the Group Exco regarding strategic decisions that have large scale and long-term impact on the Group. Musa is a seasoned executive, with experience in Finance, Investment Banking and Corporate Strategy at Standard Bank, Barclays Africa, BHP Billiton and Anglo American. He joins Absa from Standard Bank, where he was Chief Risk Officer in the Corporate and Investment Bank. Musa is a Chartered Accountant (CA(SA)), with an Advanced Financial Management Programme, an MPhil in Corporate Strategy and a PhD.

“Our ability to design and deliver as a client-centric Pan-African organisation—enabled by top talent—is critical to our success and I’m excited to work with these colleagues moving forward,” said Kenny Fihla, Absa Group Chief Executive Officer.

Absa is proud to announce its partnership with professional golfer Dylan Naidoo, a rising force in South African sport whose journey embodies the power of ambition, resilience, and opportunity.

Naidoo turned professional in 2019 after earning his Sunshine Tour card through the prestigious Vusi Ngubeni Tournament. In 2025, he made history as the first person of colour to win the South African Open, breaking barriers in one of the country’s most exclusive sports and redefining what greatness looks like for the next generation.

Dylan’s journey is one of untold ambition, inspired by his father, a multi-sport athlete who instilled the hard truths and discipline that pushed him to fully commit to golf. From early days of practicing cricket and tennis to the independence he found in golf, Dylan’s relentless drive has made him a trailblazer on and off the course.

Through this partnership, Absa will bring Dylan’s untold story to life, celebrating his grit and resilience while inspiring young South Africans to pursue their dreams with the same determination.

As part of the collaboration, Absa and Dylan will also contribute to social impact initiatives, including matched donations toward community upliftment projects, further reinforcing Absa’s commitment to being a Force for Good.

“Dylan’s story is one of perseverance and ambition. It resonates deeply with Absa’s belief that when talent meets opportunity, greatness is possible,” said Candice Thurston, Managing Executive Brand and Marketing for the Absa Group. “He is not only breaking boundaries in golf but also inspiring a new generation to dream bigger and achieve more.”

Whether through Absa Business Banking, where his resilience mirrors the entrepreneurial journey, or Absa Private Banking, which supports those striving for excellence, Dylan Naidoo’s story reflects the ambition Absa champions across Africa.

Behind every woman is a story that can inspire the world. At Absa, we see that story.

This Women’s Month, Absa reaffirms its commitment to storytelling that moves beyond campaigns and becomes a lived expression of purpose. Under the banner #WeSeeYourStory, and with a special focus on women through #WeSeeHer, Absa is surfacing the real, remarkable stories of women across business, technology, sport, entrepreneurship, and the arts. These are not just stories of success, they are stories of grit, creativity, ambition, and transformation.

Women’s Month 2025 is not a standalone moment, but part of Absa’s wider brand narrative: one that recognises the power of untold stories and the importance of creating platforms where those stories can be seen, heard, and celebrated. Through a curated calendar of events, programmes and platforms, Absa is demonstrating that investing in women is not a PR statement, it’s a strategic imperative grounded in data, delivery and long-term commitment.

Across the business, Absa continues to drive women-centred innovation, particularly in technology. Internally, the Group’s “Women in Tech” platform, led by Group ITO, will host a showcase on 7 August spotlighting female technologists who are transforming financial systems from within. Absa also made headlines this year with the launch of an AI-powered brand campaign featuring business journalist Fifi Peters, the first South African broadcaster to be digitally cloned using artificial intelligence. This wasn’t just a feat of technology, it was a bold step in ensuring that female voices continue to shape the future of storytelling.

In entrepreneurship, Absa’s investment into women-owned businesses continues to grow, with over R3.2 billion in procurement spend allocated to women-led enterprises across South Africa in the last financial year. Through programmes like She Thrives, women entrepreneurs receive the funding, mentorship, and ecosystem support needed to scale. In partnership with Visa, the She’s Next competition, running from July through September, offers female founders the opportunity to secure funding and exposure. This journey will culminate in the SheNext event on 24 September, where finalists and mentors come together to celebrate breakthrough businesses. Financial inclusion remains a cornerstone of Absa’s approach, with dedicated masterclasses in financial literacy being hosted this Women’s Month to ensure more women are equipped to own their financial journeys.

Absa’s internal culture reflects this external ambition. Today, 52% of the Group’s workforce identifies as female, with targeted initiatives in place to strengthen female representation in leadership. Women-centred employee programmes span mental health, workplace wellness, and gender-based violence (GBV) awareness. Activations throughout August, including the Women in Risk Forum (5 August), the Women Ignite Townhall (18–22 August), and ARO-wide activations (25–29 August), serve not only to honour women internally, but to ensure that policy and practice align with purpose.

Beyond the workplace, Absa’s commitment to equity extends into sport and culture. This August, Absa will once again be the driving force behind women-focused races in four major cities, from the Totalsports Women’s Races in Durban, Cape Town and Johannesburg, to the grand finale Run Your City Tshwane on 24 August. These events are more than races, they are national expressions of empowerment, with Absa colleagues running alongside clients and communities in celebration of women’s strength. Long-term sponsorships like the Sunshine Ladies Tour and the Absa Cape Epic She Untamed continue to create space for women to lead and compete in high-performance arenas, shattering outdated assumptions about what women in sport can achieve.

As a brand rooted in storytelling, Absa continues to invest in authentic platforms that allow women to share their perspectives through the arts. Two major exhibitions will headline this year’s Absa L’Atelier Pan-African Art Series, both led by powerful female voices. In Cape Town, Adelheid Frackiewicz explores personal transformation and the evolving role of women through her exhibition at AVA Gallery (7 August – 25 September). In Kimberley, Bulumko Mbete, winner of the 2023 Gerard Sekoto Award, presents “Like the sky, I’ve been too quiet” at the William Humphreys Gallery (14 August – 13 September), a multimedia reflection on migration, memory, and identity.

This Women’s Month, Absa is also turning the spotlight outward, inviting the public to participate in a national movement of recognition. Through a social storytelling campaign under #WeSeeHer, South Africans are encouraged to tag women in their lives who embody creativity, ambition, potential or resilience, and share their stories. Each week, selected nominations will be featured on Power FM, where both the storyteller and the woman being recognised will be given the opportunity to share their untold story with the country.

The month culminates in one of the most anticipated events on Absa’s calendar: Phenomenal Women, a soulful gathering taking place on 9 August at the NIROX Sculpture Park in partnership with the NIROX Foundation. Set in the heart of the Cradle of Humankind, the event will honour women’s voices through music, poetry, performance and art. The all-female lineup includes Zolani Mahola + The Feminine Force, Poet Nomashenge Dlamini, Shotgun Tori, and WGRUV Dance Company, alongside a curated showcase of women-owned businesses and a full-day art and culinary experience.

“Through Phenomenal Women and every activation across our Women’s Month calendar, we are reaffirming our belief that the stories of women, especially those that have gone unheard, deserve to be honoured, invested in, and amplified,” says Candice Thurston, Managing Executive: Brand and Marketing, Absa Group. “Because when women thrive, communities rise. And when we see her, we all see what’s possible.”

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