The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.8 index points in April 2023 from 48.1 in March. Despite the improvement, the index failed to edge back above the neutral 50-point mark as business activity and new sales orders worsened relative to March.

Indeed, the headline PMI would have deteriorated further if not for a significant improvement in the inventories index. The underlying survey results suggest that the sector experienced another tough month at the start of the second quarter amid intense load-shedding hurting output, and demand remaining under pressure.

• PMI April report 2023
• PMI April infographic 2023

Absa Group is proud to announce its collaboration with Women in Tech, an international non-profit organisation whose mission is to close the gender gap and support women in pursuing careers in technology. The collaboration will provide an opportunity for women in the information and communications technology (ICT) sector across Africa and the globe to connect and converse on issues pertaining to the gender gap, provide access to critical skills and mentorship; as well as elevate job creation.

According to Women in Tech, of the 236 000 ICT roles in South Africa, only 23% of the roles are held by women whilst globally, women represent 31%. In order to address this challenge, Women in Tech is driving empowerment through key elements, such as education, business, digital inclusion and advocacy. By offering mentorship opportunities, imparting skills, and fostering self-confidence in women, they hope to make a difference and position them for success.

As a leading African bank, the association with Women in Tech brings Absa one step closer to our bold ambition of building a digitally powered business, creating a winning, talented and diverse team underpinned by being an active force for good.

“As Absa, we identify with Women in Tech’s vision to drive gender diversity in the workplace.  We are committed to empowering Africa’s tomorrow, together, through increasing female representation and providing opportunities for women to advance. We were named one of the World’s Top Female-Friendly Companies in 2022 by Forbes and ranked 36^th worldwide among 400 global companies excelling in championing women at work. Our collaboration with Women in Tech is another important step forward in empowering women and girls to take up leading roles in technology,” says Johnson Idesoh, Group Chief Information and Technology Officer at Absa.

Absa will be collaborating with Women in Tech in recognising women across the African continent that are making a mark in the technology industry. This will be achieved through various initiatives such as workshops, summits and the Women in Tech Africa Awards which aim to celebrate innovation and highlight the achievements of women and their ongoing contribution to the technology sector.

“Increasing gender diversity can have great benefits for the tech industry and foster innovation.  For more women to join the ranks, we need to have greater visibility of those already making a mark in the tech industry which is why these events, awards and initiatives are crucial; they provide a space for women to learn from each other, connect and grow,” says Tamu Dutuma, Head of Strategy at Absa Technology.

“One of the core values at Women in Tech is collaboration, we believe that the team is stronger together because nothing great was ever built without teamwork. Our 2030 goal is to empower five million women and girls and our collaboration with Absa is immensely important in achieving this goal. We have no doubt that together, we will unlock many doors of opportunity for more women and girls and we are excited about what the future holds,” confirms Melissa Slaymaker, Country Director of Women in Tech South Africa.

Whilst Women in Tech is one such programme that Absa has in place to expediate women in the technology sector, they are also involved in other initiatives that focus on skills development and upliftment. “Nurturing the skills of the future with the workforce of the future is critical in driving job creation and economic growth, and women need to be supported to play a more equal role,” concludes Idesoh.

Absa is proud to announce its support of The Gathering: Earth Edition, Daily Maverick’s first sustainability and climate-crisis-focused conference, and the extension of its sponsorship of Our Burning Planet, Daily Maverick’s climate-change and environmental journalism unit.

 The conference, scheduled to take place in Cape Town on 26 May 2023, will bring together some of the world’s leading scientists, economists, business leaders, policymakers, and activists to discuss solutions to the energy, environmental and economic challenges facing South Africa.

Absa is committed to being an active force for good in everything that it does. As part of this commitment, the Group has been supporting Our Burning Planet’s work since 2021, recognising the vital role of independent, high-quality journalism in creating an informed and passionate citizenry. Absa is pleased to announce that it will be extending the support to Our Burning Planet until 2025, as the Group believes that a well-informed public is essential to finding solutions to the climate-change crisis.

Punki Modise, Absa Group Chief Strategy and Sustainability Officer, said: “We are proud of this collaboration, which will put issues of climate change and sustainability at the top of our national agenda. At Absa, it gives us great pleasure to be able to support the work of Daily Maverick, which has built a well-deserved reputation for journalism that lives up to high standards of accuracy, integrity, and independence. A free press stimulates debate and contributes to creating sustainable and value-creating solutions to some of Africa’s greatest environmental, social, and economic challenges. It has been gratifying to watch the growth of Our Burning Planet, and how it has enlivened and enriched national conversations around governance, accountability, and our mutual responsibility in the face of the climate crisis.”

She further noted that Absa’s support for the conference was rooted in the group’s organisational purpose. “As a purpose-led organisation, we believe that we have a critical role to play in creating a better world. Our partnership with Daily Maverick aligns with our strategic goal of positively contributing to a sustainable future for all. Our redefined purpose statement, ‘Empowering Africa’s tomorrow, together, one story at a time’, reflects our commitment to work collaboratively towards achieving this goal. We are confident that by working together, we can create a better future not only for Africa, but also for the world.”

Jillian Green, Daily Maverick’s Deputy Editor and Editor of Our Burning Planet, said: “The climate crisis is the greatest challenge humanity faces. Thanks to Absa’s support, we’ve been able to build a team who are passionate, knowledgeable, and who can see very clearly what is at stake – nothing less than our future on this planet. This team has been given the resources and freedom to focus on uncovering and investigating stories at the confluence of our environment and governance, and at the same time mentor and guide an up-and-coming cohort of talented young journalists.”

The support of this conference is in line with Absa’s long-term commitment to support environmental sustainability. The Group, which is Africa’s largest funder of renewables, recently announced its long-term ambition to reach Net Zero state by 2050 for scope 1, 2, and 3 emissions, which comprise both operational and financed emissions.

Supporting a transition to a low-carbon economy is underpinned by Absa’s ambition to be an active force for good, prioritising business activities that have the most positive environmental, social, and economic impact while mitigating negative impacts. Absa is a founding signatory to the UN Environment Programme Finance Initiative’s Principles for Responsible Banking, as well as a signatory to the UN Global Compact.

Absa’s support for Our Burning Planet is aligned not only with its commitment to environmental stewardship but also with its broader support of independent journalism. Absa sponsors the annual Wits University’s African Investigative Journalism Conference, partners and provides training on finance and auditing to the Institute for the Advancement of Journalism and supports the South African National Editors Forum in its efforts to promote media freedom.

Since its formation, Our Burning Planet has broken and reported on stories including corruption at Eskom, the land claims scandal in Mpumalanga, and the battle to exploit Antarctic resources in contravention of international treaties, amongst many others.

Daily Maverick’s The Gathering: Earth Edition will be held at the Cape Town International Convention Centre on 26 May 2023. Local and international speakers include Himanshu Gupta – CEO and Co-Founder ClimateAI, Dr Imtiaz Sooliman – founder and chair of the Gift of the Givers Foundation, Geordin Hill-Lewis – Mayor of Cape Town, Otsile Nkadimeng – climate change activist, Tendai Biti – vice president of Citizens Convergence for Change (CCC), Raeesah Noor Mohamed – climate change activist, Professor Letlhokwa Mpedi – Vice Chancellor and Principal at the University of Johannesburg, Maandla Alidzulwi – Environmental Management Inspector at Mpumalanga Environmental Affairs, Rehana Rossouw – land fraud investigator and author, Kate Handley – Executive Director Biodiversity Law Centre and Iraj Abedian – Chief Executive Pan-African Capital Holdings.

Tickets for The Gathering, Earth Edition can be purchased here: https://qkt.io/dmgathering2023

or register for free, to participate in the virtual event: https://daily-maverick.typeform.com/to/Ho2Y83Y2

The proud African bank, Absa, recognises the importance of supporting the arts and culture in South Africa. With a commitment of investing in South Africa’s arts industry, Absa is excited to enhance its touch points at this year’s KKNK festival, showcasing the best of local and national talent in a celebration of creativity and innovation.

Various opportunities are created where Absa can engage with their customers and the community members in an environment that they are passionate about.

“In everything that we do, we always think of their experience and the KKNK festival is an ideal platform to showcase our Africanacity. We are proud to contribute to the development of local and international talent once again through the festival,” says John Tshabalala, Head of Private Banking Segment at Absa.

The 27^th KKNK is presented from Saturday 1 to Sunday 9 April in Oudtshoorn, with Absa as the main sponsor of the festival.

Absa announced at the KKNK’s programme launch this year that their sponsorship of the festival will be extended for a further three years and Tshabalala says this extension of Absa’s partnership allows them to continue to make a meaningful impact in the community of Oudtshoorn and the arts industry as a whole. Absa has been involved as a sponsor of the KKNK for 21 years.

“Seeing the immense opportunities that lie in arts festivals for South Africa’s economic development, Absa aims to continue enabling inclusive growth within the arts environment. The KKNK festival is more than just a sponsorship for Absa, it is also an opportunity and provides a platform for us to bring exciting and extraordinary activities to our customers and the broader community.”

Festivalgoers can join Absa in the Absa Kuierkamer which has a new home in the Feesmark. Various activities catering for every taste will be hosted here. Visitors can relax here and take a breather from the business of the festival, while enjoying the food and beverages that will be on sale. In this air-conditioned space, guests will have access to free Wi-Fi and mobile phone charging stations.

From 5 to 9 April at 11:00 the ever-popular Hannes van Wyk is in conversation with various artists involved at the KKNK. You can get to know them better, find out more about their current projects, what inspires their creativity and future plans in the industry.

It has been said that “knitting is the new yoga” and festivalgoers can join us at the Hekelhoekie corner in the Absa Kuierkamer, where they can collaborate with the Oudtshoorn ReWOLusie team to get their hands on a set of needles and knit up a storm. All items made during the festival will be donated to local organisations.

Art enthusiasts can visit pop-up art exhibitions that will be hosted inside the local Absa branch and the Absa Gallery at the Prince Vincent Building. This will include artworks by young inspirational artists from across Africa, as well as a selection of rarely seen artworks from Absa’s corporate art collection.

Abongile Sidzumo, the Absa L’Atelier Gerard Sekoto Winner of 2021, will complete two artworks during the live sessions at the festival for festivalgoers to view. These artworks will then form part of the Framing Workshops that will be attended by the youth. Professional framers will be brought in to host the workshops and two learners will be chosen, with their new framing skills, to frame Abongile’s work under the watchful eye of the framers. These works will then be put up for auction with the proceeds benefiting the framing workshop.

The Absa Vehicle and Asset Finance team has collaborated with the local car dealers from Nissan and Klein Karoo Toyota to display their vehicles at the festival. John Deere will also have their tractors on display.

During the first KKNK Youth Arts Festival, Absa presents sessions for the youth, focusing on financial education and work readiness. These financial sessions will cover key topics such as budgeting and using credit wisely. The work readiness sessions form part of Absa’s ReadytoWork programme. Recognition is also given to the teacher attending the Youth Arts Festival, with a special luncheon to recognise and celebrate the invaluable work done by our educators.

A variety of artworks have been spread across the heart of Oudtshoorn since 2018, as part of Absa’s Maakit Mooi, to celebrate this town’s status as the home of the arts in South Africa.

“Various banking facilities are available during the festival, to support the festival in the form of the bank on wheels, which will be strategically placed on the festival grounds as well as various convenient payment solutions that can be used. And if anyone needs assistance with their banking issues, our dedicated Absa staff will be there to help,” Tshabalala concludes.

The programme for the 27^th KKNK is available at kknk.co.za and tickets are available online at Webtickets or your nearest Pick n Pay.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ticked down slightly in March to 48.1 from 48.8 in February.

After a solid start to the year, this was the second straight month that the index pointed to a deterioration in business conditions in the manufacturing sector. Still, when considering the performance of the business activity index through the entire first quarter, it suggests that output could improve from the quarterly contraction recorded in the fourth quarter of 2022. On the other hand, domestic demand seems to be struggling, with some comments referring to local demand faltering due to load-shedding. Indeed, in contrast to business activity, the new sales orders index performed worse relative to the fourth quarter. This was despite the PMI’s index tracking export sales performing well through the first quarter and rising to an almost two-year high in March.

• PMI March report 2023
• PMI March infographic 2023

Struggling businesses will soon be able to apply for their share of the R50 million in grants to keep their businesses running.

In a move aimed at supporting and growing small and medium enterprises (SMEs), Absa will be providing up to R50 million in energy subsidy under its Green Asset Finance programme for qualifying SMEs.

Absa’s energy subsidy is the only grant of its kind providing some much-needed support to small business customers to finance solar installations and keep the lights on. Eligible SMEs that have their commercial properties financed by Absa will be contacted by Absa and need not take any action to apply for this support. Subsidy amounts will be determined based on clearly set out factors and can reach up to R50 000 or 10% of the overall installation value. Identified and qualifying SME customers will be invited by Absa to opt-in or opt-out of the subsidy for their green finance needs.

“SMEs make a significant contribution to job creation and economic growth in South Africa. However, in many instances, the operating environment over the past few years has made it very difficult for these vital enablers to grow and thrive,” said Ronnie Mbatsane, Managing Executive for SME Business at Absa Relationship Banking.

“Load shedding in particular continues to hamper the potential of many SMEs. Through these subsidies we are helping to put liquidity back into the hands of small businesses to power their business into full production,” Mbatsane adds.

This launch follows the considerable investments Absa has already made in the renewable energy sector, including the solar offering for Absa Home Loan clients, a personal loan option for retail customers to
procure alternative power sources, and bespoke solutions supported by subject matter experts who have assisted SMEs to find the best option for their particular needs.

Absa has been a leading financier in energy solutions, enabling customers to determine energy needs, calculate cost and link to a trusted energy supplier.

Additionally, through the Supplier Value Chain development initiative, Absa has supported SME installers in funding their SAPVIA PV Green Card accreditation, supporting emerging township economies, pipeline commercialisation and allowed Absa’s SME customers to participate in the value chain.

“The Absa energy grants underscore our commitment to this vital segment and connecting individuals and businesses to communities,” concludes Mbatsane.