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Media release

Media release

Absa Group’s eKhaya Colleague Share Scheme scoops Top Champion for Women Award

29 April 2024

Absa Group is delighted to announce that the eKhaya Colleague Share Scheme has once again been celebrated, with the Group winning the Top Champion for Women Award at the inaugural Worker Share Ownership Conference.

Hosted by the Department of Trade, Industry and Competition last week, the conference focused on promoting economic inclusion through Employee Share Ownership Programmes (ESOPs). It brought together ESOP trustees, employee representatives, business representatives, labour leaders, government officials, legal experts, and finance specialists to share insights and best practice.

The award ceremony sought to honour those employers that have notably empowered their employees through innovative and effective ESOP structures. Absa Group was recognised for empowering the highest percentage of women, with 63.1% of the 26 400 staff beneficiaries being female.

Absa’s eKhaya scheme, implemented in September last year, allocated shares to the value of R11.2 billion at the time, including a 4% evergreen Corporate Social Investment Trust and a 3% vesting staff element.

“We are proud to have been honoured once again for our eKhaya Colleague Share Scheme. This transaction demonstrates our commitment to fostering financial inclusion in our communities in keeping with our purpose of empowering Africa’s tomorrow, together... one story at a time,” said Absa Group CEO Arrie Rautenbach.

Rautenbach said women make up the majority of Absa’s employee component and through this transaction and other transformation programmes, the Group has recognises its role as an active force for good, contributing meaningfully to their families, communities and the economy as a whole. “This exemplifies our role as a driver for positive change and sustainable development,” he concluded.

 

Image supplied by Department of Trade, Industry and Competition

Absa Group representatives with President Cyril Ramaphosa, Minister in the Presidency for Women, Youth and People with Disabilities of South Africa Dr Nkosazana Dlamini-Zuma and Minister of Trade, Industry and Competition Ebrahim Patel at the Worker Share Ownership Conference Awards. Absa Group won the Top Champion for Women Award, with the accolade being accepted on behalf of the Group by Absa leaders CEO of Relationship Banking Faisal Mkhize (back row, third from left), Group Chief Human Capital Officer Jeanett Modise (front row, fifth from left) and Group Head of Liquidity Management Palesa Mkhize (front row, seventh from left).

29 April 2024

Absa Group is delighted to announce that the eKhaya Colleague Share Scheme has once again been celebrated, with the Group winning the Top Champion for Women Award at the inaugural Worker Share Ownership Conference.

Hosted by the Department of Trade, Industry and Competition last week, the conference focused on promoting economic inclusion through Employee Share Ownership Programmes (ESOPs). It brought together ESOP trustees, employee representatives, business representatives, labour leaders, government officials, legal experts, and finance specialists to share insights and best practice.

The award ceremony sought to honour those employers that have notably empowered their employees through innovative and effective ESOP structures. Absa Group was recognised for empowering the highest percentage of women, with 63.1% of the 26 400 staff beneficiaries being female.

Absa’s eKhaya scheme, implemented in September last year, allocated shares to the value of R11.2 billion at the time, including a 4% evergreen Corporate Social Investment Trust and a 3% vesting staff element.

“We are proud to have been honoured once again for our eKhaya Colleague Share Scheme. This transaction demonstrates our commitment to fostering financial inclusion in our communities in keeping with our purpose of empowering Africa’s tomorrow, together... one story at a time,” said Absa Group CEO Arrie Rautenbach.

Rautenbach said women make up the majority of Absa’s employee component and through this transaction and other transformation programmes, the Group has recognises its role as an active force for good, contributing meaningfully to their families, communities and the economy as a whole. “This exemplifies our role as a driver for positive change and sustainable development,” he concluded.

 

Image supplied by Department of Trade, Industry and Competition

Absa Group representatives with President Cyril Ramaphosa, Minister in the Presidency for Women, Youth and People with Disabilities of South Africa Dr Nkosazana Dlamini-Zuma and Minister of Trade, Industry and Competition Ebrahim Patel at the Worker Share Ownership Conference Awards. Absa Group won the Top Champion for Women Award, with the accolade being accepted on behalf of the Group by Absa leaders CEO of Relationship Banking Faisal Mkhize (back row, third from left), Group Chief Human Capital Officer Jeanett Modise (front row, fifth from left) and Group Head of Liquidity Management Palesa Mkhize (front row, seventh from left).