Technology has changed the way we learn and accelerated the speed at which things work. In today’s workplace and educational setting, laptops have become a requirement and while this is the case, many students cannot afford them.

Absa is excited to be a part of a solution that will address this digital deficit. On Wednesday, 8 March 2023, the organisation donated 130 refurbished laptops to CapaCiTi, the digital skills accelerator of the UVU Africa group, a non-profit organisation that brings together the expertise, technology and resources from industry, academia and government in order to develop young South African talent and talent across the continent. The handover, which took place in Salt River in Cape Town, was met with much excitement.

Absa’s relationship with UVU Africa is one that is ongoing, and we recently partnered with CapaCiTi on two initiatives that aim to empower the youth through work experience and learning. The primary objective of the first initiative is to close the Salesforce skills gap and provide candidates with thorough knowledge and a practical understanding of cloud computing and Salesforce.  The second programme, which commenced in January 2023 will look at critical skills, such as Software Development and Software Testers and candidates will go through six months of learning and a further 12 months placement period at Younglings Academy and at Absa.

The majority of the candidates who are part of these initiatives come from economically underprivileged areas, so the laptops donated will be used to support them in their journey. “In everything we do, our aim is to be an active force for good. This donation will ensure that we enable the candidates’ learning by providing access to laptops during weekends and in the evenings. This is something that they didn’t have before and it will allow for continuous learning and code writing without interruption,” Johnson Idesoh, Absa Group Chief Information and Technology Officer comments.

Over the past decade, UVU Africa has made a continued effort to build a future-fit, inclusive society through technology and innovation. They dream of a future where all Africans can become part of the digital economy and are proud to partner with organisations that are tackling the digital skills gap in South Africa and putting youth at the heart of the solution.

Ian Merrington, Group Chief Executive Officer at UVU Africa, believes that this is the perfect time for this handover to happen and the laptops received will be allocated to the CapaCiTi Cape Town campus, CapaCiTi Braamfontein campus in Johannesburg, as well as Khayelitsha Bandwidth Barn hub in Khayelitsha Township. “Our partnership with Absa is one that we believe will continue to yield great results, providing learners with the tools to continually grow in their learnerships and ultimately giving them the opportunity to hope again. There’s nothing that is as impactful as making a difference in someone’s life. This equipment isn’t just any equipment, but a new chapter to unlocking new possibilities,” says Merrington.

After surprising on the upside in January, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 48.8 index points in February. This was the first time since September 2022 that the headline index fell below the neutral 50-point mark, pointing to a marked deterioration in business conditions in the factory sector. Indeed, the business activity and new sales orders indices were both in contractionary terrain, with demand dipping for a second consecutive month.

The February survey period included an unprecedented seven consecutive days of stage 6 load-shedding, which was likely top of mind for many respondents. To be sure, load-shedding once again featured frequently in the commentary where respondents explained why activity declined relative to the previous month. A glimmer of good news was that export sales rose to the best level in a year, implying that producers supplying solely to the domestic market likely had a tough month. In line with a weaker output picture, the employment and inventories indices also came in below the neutral 50-point mark.

• PMI February Report 2023
• PMI February infographic 2023

As a valued Absa customer, your views and insights are crucial in our efforts to develop products and services that will meet your needs and simplify your banking. That’s why we regularly host customer engagement sessions either online or in person to get your opinion on upcoming changes or improvements.

Who is involved in setting up customer engagement sessions?

Our Africa Design Office in partnership with our recruiters Vula Vula Research Services (company registration number 2014/040167/07) and Ethno Lab Pty Ltd (company registration number 2015/129321/07).

How do you contact me to take part in these sessions?

•  You will receive an SMS, email or call from our recruiters asking if you are interested to join a research or testing session.
• If you are interested, the recruiters will ask you broad questions before proposing a research/testing topic relevant to you.
• You will never be asked to share your personal details such as your ID number, banking details such as your account numbers, card details, PIN, ATM PIN, one-time-PIN (OTP), online banking or app login details.
• If you‘re asked for this information, end the communication immediately and call the Absa Fraud Hotline on 0860 557 557 or +27 (0)11 501 5089, or use the ‘Click to call’ functionality on your Banking App.

What are the next steps if I agree to take part in a session?

• The recruiter will set up a date and time for your session.
• You will need to sign a nondisclosure agreement (NDA) to ensure that your rights and Absa’s rights are protected.
• The recruiter will contact you before your session to confirm your session.
• After you have completed the research or testing session, you will get an incentive as a token of appreciation for your time.
• You will not receive any follow up marketing calls for taking part in the research or testing session.

Who do I contact to get more information?

Contact Carmen Da Silva at Carmen.DaSilva@absa.africa

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) came in at 53.0 index points in January 2023 – virtually unchanged from 53.1 in December.

A decline in the employment and new sales orders indices to levels below 50 were offset by higher activity and inventories returning to positive terrain. Most encouraging was the significant, and surprising, improvement in the business activity index relative to the previous month. This was despite many respondents still flagging load-shedding as holding back production and new sales orders dipping lower in January. Should this translate into actual production growth, it would be a promising start to the year for the struggling sector.

• PMI January report 2023
• PMI January infographic 2023

Absa Group Ltd. today announced the appointment of three Group executives, with effect 1 January 2023, signalling further progress in its ambition to create a winning, talented and diverse team.

“The appointments build on the positive momentum that was achieved through Executive Committee changes and operating model refinement earlier this year,” said Absa Group Chief Executive Officer, Arrie Rautenbach. “The appointments strengthen our leadership team, adding to the bench of skill, experience and diversity appropriate to, and supportive of our ambition to be a leading Pan-African bank,” he said.

The appointments include:

Jeanett Modise, Absa Group Chief People Officer

Jeanett is an accomplished human resources (HR) professional with extensive experience at executive level, driving HR strategy, operations, turnaround and digital transformation in local and global organisations. Jeanett has worked with executive teams and boards for more than 20 years and has held several Board positions.

Johnson Idesoh, Absa Group Chief Information and Technology Officer

Johnson has 25 years of experience in leading digitalisation in regulated industries and a proven track record in delivering and embedding digital strategies that improve customer experience and increase digital customer numbers.

Sydney Mbhele, Absa Group Chief Brand, Marketing and Corporate Affairs Officer

Sydney has a 25-year career in the brand-building and marketing sector, working at blue-chip companies. He was nominated as 2022 marketer of the year (South Africa) and rated as a top five Chief Marketing Officer in Africa and the Middle East in 2021.

All three executives have significant experience, having operated across multiple markets on the continent and elsewhere.

“We have made significant progress in delivering on our strategic agenda and in strengthening leadership and organisational capability this year,” said Rautenbach. “We are well positioned for commercial outperformance going forward.”

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose firmly back into expansionary terrain in November. The index rose to 52.6 points, up from 50 in October and an average level of 49.6 recorded in the third quarter. On its own, this suggests that the manufacturing sector could book another slight expansion in the fourth quarter. However, next week’s official data on factory production in October – and the extent to which this was impacted by the prolonged strike at Transnet – will help to firm up this view.

Encouragingly, both business activity and new sales orders improved for a second straight month after both had plunged lower during the load-shedding-heavy month of September. New sales order volumes expanded for the first time since May 2022. Even though it improved, the activity index remained stuck just below 50 points, while the employment index also lingered at a much lower level. As cautioned in the past, higher demand and output levels would likely need to be sustained for some time for any improvement in staffing levels to occur. Encouragingly, purchasing managers turned more upbeat about business conditions going forward. The index tracking expected business conditions in six months’ time rose to 51.7 from 49.2 in October.

The purchasing price index remained largely unchanged in November. This would correspond to price pressure at the start of the production process remaining elevated, but less intense than at the beginning of the year. The recent decline in the Brent crude oil price as well as a somewhat stronger rand exchange rate (against the US dollar) bode well for the general downward trend to continue through the final month of the year. Still, with load-shedding expected to continue, the (more) frequent usage of diesel-powered generators adds to the cost burden of producers.

Please note: December 2022 PMI will be released on 6 January 2023.

Sanlam and Absa are pleased to announce that all suspensive conditions have been successfully met, allowing implementation today (1 December 2022) of a transaction that combines their investment management businesses in South Africa.

The transaction sees Absa exchanging its investment management business, Absa Investments, for a stake in Sanlam Investment Holdings Proprietary Limited (SIH). Absa Investments comprises Absa Asset Management, Absa Alternative Asset Management, Absa Fund Managers and Absa Multi-Management.

The conclusion of the transaction significantly strengthens SIH’s offering through enhanced scale, broader distribution reach and a more holistic range of investment solutions. This further enhances SIH’s position as one of South Africa’s largest black-owned asset managers.

Absa has also entered into a 10-year distribution agreement with SIH, meaning the expanded operations will utilise the distribution networks of both Sanlam and Absa, which significantly broadens market reach for the enlarged SIH.

Sanlam Investment Group CEO, Mr Carl Roothman, said: “We are excited that the agreement to integrate the investment management businesses of Sanlam and Absa has been concluded. Sanlam and Absa clients will gain from the enhanced investment offering. This partnership will allow us to deliver investment solutions that sustain future generations.”

“Scale is critical in driving the product and service innovation required to meet clients’ financial goals. Combined capabilities, expertise and commitment to our clients will position us to be the preferred investment solutions provider in South Africa. Our promise is to serve our customers with pride and deliver world-class client experience and solutions,” Mr Roothman said.

Commenting on the transaction, Absa Group Financial Director, Mr Jason Quinn, said: “We are delighted with the successful conclusion of the transaction, which delivers the scale, capabilities and transformation which we view as essential to achieving strong and sustainable growth. Absa remains committed to the investment management sector through its shareholding in the combined entity and a 10-year distribution agreement, which will help us to offer an enhanced customer value proposition by creating a deeper, broader range of investment solutions for our clients.”