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From the Groundbreakers to the Game Changers: 10th FORBES WOMAN AFRICA Leading Women Summit

From the Groundbreakers to the Game Changers: 10th FORBES WOMAN AFRICA Leading Women Summit

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The countdown has begun. Mark your calendars for March 5, 2025, as the FORBES WOMAN AFRICA Leading Women Summit returns for its landmark 10th edition. Set against the vibrant backdrop of Time Square, Pretoria, South Africa, the prestigious and premier event promises to bring together a day of inspiration, celebration and above all the women empowerment.

Since its inception, this groundbreaking gathering has established a tradition to honor International Women's Day (March 8) as an annual celebration commemorating the achievements and resilience of women across Africa and the world. It has served as an important gathering in Africa, inspiring the continent's business leaders, innovators, creatives and trailblazers with a showcase of leaders and luminaries who go beyond the script for a new vision for Africa. It's sparked a wave of Afro-optimism-a bold, hopeful vibe about Africa's rising power and potential in today's fast-changing world.

Previous speakers include Ellen Johnson Sirleaf, former president of Liberia; Renown legendary model, Noami Campbell; Dr Naledi Pandor, former South African minister; Deputy Secretary-General of the United Nations, Amina J. Mohammed; Desiree Ellis, head coach of Banyana Banyana; Mo Abudu, Nigerian media mogul; Tyla, Grammy Award-winning artist and Sabrina Dhowre Elba, model, businesswoman and media personality. .

Themed "To The Power Of 10: The Rule-Breakers In Africa's Next Chapter", the 10th milestone edition of the summit promises to bring an experience like no other. From fireside chats and powerful spotlight segments, to robust panel discussions and one-on-one sessions; this is a summit that is connecting the dots, the doers and their doings.

And who can forget the evening edition of the momentous day, will culminate with the glamourous FORBES WOMAN AFRICA AWARDS. The awards celebrate the continent's most inspiring women excelling in different sectors and industries across Africa.

"We are thrilled to present FORBES WOMAN AFRICA Leading Women Summit, especially as it celebrates 10 years in existence," Managing editor, FORBES AFRICA and FORBES WOMAN AFRICA, Renuka Methil says. "It has been an incredible journey that saw women across sectors collaborate, exchange ideas and sharpen each other's minds and contribute to the economy meaningfully. We invite you to join us for this milestone gathering as we look to the next 10 years. We will meet the next cadre of leadership, from the forefront to the future, unravelling their new discourse and playbook. Get set for the conversations that will change ideas and innovations into revolutionary action."

"We are absolutely elated to celebrate the unwavering strength, resilience, and extraordinary achievements of the incredible women in our community at the Leading Women Summit," Roberta Naicker, Managing Director, ABN group said. "For the past decade, we have come together lifting each other up, sharing our powerful stories, and igniting the path for the next generation of fearless female leaders. This is more than just an event; it's a movement, and a testament to the unstoppable force that is women supporting women. Because when women rise, we all rise-higher, stronger, and together!"

FORBES WOMAN AFRICA is also thrilled to welcome Absa on board as our official banking partner for the Leading Women Summit. This is another collaboration that underscores their commitment to empowering women and driving inclusive growth.

"We are proud to be the official banking partner of the summit. As a bank dedicated to empowering Africa's future, one story at a time, this partnership reinforces our commitment to championing women's achievements across the continent. We remain focused on addressing the opportunities and challenges in women's leadership, ensuring their voices drive progress, because in every story, we see an opportunity."

In celebrating a decade of hosting the FORBES WOMAN AFRICA Leading Women Summit, this year's instalment will once again bring the best of the magazine's award-winning editorial content to the live stage and across multiple platforms. It will also attract top drawer A-list speakers - from global billionaires to Hollywood celebrities, Olympians, corporate titans, subject matter thought leaders, disruptors, innovators, captains of the industry and award-winning artists.

For more information on the event please go to https://leadingwomensummit.co.za/. Tickets are currently on sale at www.webtickets.co.za from R2550 to R5000.

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Media release

Absa proudly awarded Top Employer for the fourth consecutive year

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Absa is pleased to announce that, for the fourth consecutive year, it has been recognised as a Top Employer for 2025 by the prestigious Top Employer Institute (TEI) across six key African markets – South Africa, Zambia, Kenya, Ghana, Botswana, and, for the first time, Mauritius.

The addition of Mauritius to this list underscores Absa’s ongoing expansion and investment in Africa, reinforcing its commitment to growing its presence across the continent. Retaining this certification in all six markets is testament to Absa’s consistent efforts to elevate its Human Capital practices while setting new benchmarks as a leading employer of choice in the financial sector, in Africa.

Jeanett Modise, Absa Group Chief Human Capital Officer, says: "Achieving the Top Employer Africa certification is a key milestone in our journey to bring Absa’s organizational purpose to life: ‘Empowering Africa’s tomorrow, together, one story at a time.’ This recognition reinforces our commitment to building a talented, diverse, and future-fit workforce while positioning Absa as a globally respected organisation that Africa can be proud of. By investing in our people and fostering a culture of belonging, well-being, and excellence, we continue to enhance the employee experience and strengthen our employer brand. This certification validates our efforts to retain and attract top talent, ensuring that Absa remains the home of Africa’s leading professionals. We want to reassure our employees that we're committed to the success of their story”

Top Employer has recognised Absa for its outstanding performance, with notable increases in Leadership (+9.06%), Work Environment (+10.83%), Onboarding (+6.70%), Wellbeing (+7.68%), Employee Listening (+11.32%), and Offboarding (+7.77%)—areas where we achieved the highest growth—placing the Group above industry benchmarks. Additionally, Absa’s commitment to improving employee well-being and fostering a high-performance culture has been central to its progress.

Raising the Bar: key areas of progress

Beyond retaining its Top Employer certification, Absa has demonstrated significant strides in several key areas. Leadership development has remained a priority, with a strong focus on embedding our strategy, purpose, values and brand across the Group.  This approach ensures that every interaction reflects the belief that your story matters, fosters human-centred empathy, and creates an environment where all colleagues can not only belong but thrive. Leadership excellence continues to be a key focus, ensuring that the organisation is led by individuals who embody Absa’s vision and culture.

Absa has also taken deliberate steps to enhance its work environment by strengthening Psychological Safety, Diversity, and Inclusion across its various business units. This has created a more inclusive and empowering workplace where employees feel valued and supported. The employee journey has also been enhanced through improvements in onboarding and offboarding processes, ensuring seamless transitions for both new and departing employees.

Recognising the importance of holistic employee well-being, Absa has introduced various initiatives and made essential services more accessible to support psychological, physical, and financial wellness. Furthermore, the Group has refreshed its employee listening strategy to align with Absa’s evolving goals, ensuring that employee feedback directly informs strategic workplace improvements and people-focused policies.

These initiatives have played a crucial role in the Group’s continued improvement, with its overall Top Employer score increasing to 90.15% - a notable rise of +3.73 points from 2024’s score of 86.42%.

Saviour Chibiya, Chief Executive for Absa Regional Operations (ARO) said, “We are thrilled to have grown the number of our Absa countries receiving this certification as it reflects our unwavering commitment to fostering a workplace where excellence thrives. The addition of Mauritius is particularly meaningful as it signals the strides we continue to make in building an employer brand that resonates across the continent.”

The certification marks a significant milestone in Absa’s journey to realise its organisational purpose. It also reinforces Absa’s positioning as a globally respected organisation that Africa can be proud of - one that attracts, retains, and nurtures top talent through a culture that enables winning, diverse, and talented teams to thrive.

All in all, this achievement underscores our unwavering commitment to fostering a workplace where excellence thrives, and our Human Capital practices set the standard for the industry. This recognition is a testament to the dedication of our entire team and reaffirms Absa's position as a leading employer of choice in the financial sector.

TEI is a global authority on recognising excellence in Human Capital practices. Through their globally recognised Certification Programme, along with data-driven insights and advisory expertise, they enable companies to advance their talent attraction, development, engagement, and retention strategies.

Modise concludes, “The certification highlights our commitment to the continent and recognises the power we possess as a financial institution to nurture talent and propel the future forward by delivering impact where it matters most - our people.”

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Media release

Absa gears up for the iconic 21st edition of the Absa Cape Epic, with the Team Absa Training Camp for the #SheUntamed class of 2025 in the breathtaking KZN Midlands

Absa gears up for the iconic 21st edition of the Absa Cape Epic, with the Team Absa Training Camp for the #SheUntamed class of 2025 in the breathtaking KZN Midlands

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As we prepare for the 2025 Absa Cape Epic, our journey kicks off with the highly anticipated Team Absa Training Camp, which is scheduled from 23 to 26 January 2025 at the Absa Karkloof Country Club in the majestic KwaZulu-Natal (KZN) Midlands. This annual camp serves not only as a final check on preparation for the gruelling Absa Cape Epic but also as a celebration of community, empowerment and purpose, highlighting Absa’s commitment to making every story matter.

The training camp promises four days of breathtaking cycling routes, ranging from 17 to 91 kilometres of riding coupled with between 400 and 2 550 metres of climbing, designed to cater to both seasoned and first-time riders. It’s all aimed at preparing them for the challenges of the Absa Cape Epic and Epic Trippers programme.

In celebration of this milestone, Absa is proud to announce the 12 for 21 #SheUntamed class of 2025. Launched in 2019, the Absa #SheUntamed movement is a cornerstone of Absa’s dedication to empowering women and young girls in sports and beyond. This year’s programme will feature 12 mixed all-women teams, ranging from beginners to seasoned riders, alongside 40 women participating in the Epic Trippers session 1. Participants at the training camp will receive exclusive access to professional athletes and expert guidance in crucial areas such as the on- and off-the-bike partnership with your riding partner, nutrition, race preparation, the importance of rest and mental wellbeing, skills development and bush mechanics, to prepare them for the ultimate challenge, the Absa Cape Epic, which is set to take place from 17 to 23 March 2025.

“Absa is committed to leading the charge in empowering women in cycling,” says Tina Venter, Absa Executive for Marketing Operations. “Our #SheUntamed initiative goes beyond inclusivity – it’s about driving transformation and creating meaningful, lasting impact in the communities we serve. This year marks the beginning of our three-year renewal with the Ironman Group, which includes access to the Epic Global mountain-bike (MTB) series, which comprises the SPAR Swiss Epic, Andorra Epic Pyrenees and 4Islands Epic. Selected #SheUntamed riders will travel to unforgettable, inspiring destinations where exceptional trails wind through stunning landscapes, scattered with ruts, mud and dust. True grit, cheers and the sound of chains in motion will unite riders as they pursue each challenge.”

Since its inception, the Absa #SheUntamed programme has led to a significant increase in women participation, growing from 36 riders in 2019 to 176 in 2024, reflecting the transformative impact of Absa’s efforts.

In addition to fostering and nurturing women’s participation in cycling, Absa’s commitment extends to the broader community. The Absa Karkloof Country Club where the training camp will be hosted, has become a vital hub for community upliftment. Absa took on its naming rights in 2024. Through infrastructure upgrades, trail refurbishments and new facilities, the club now stands as a testament to Absa’s commitment to empowering local communities and supporting the sport of mountain biking. In addition to fostering camaraderie among riders, the training camp benefits local businesses, schools and farmers, ensuring a positive and lasting impact on the Karkloof region.

At the heart of the camp’s philosophy is a commitment to being an active force for good. Absa’s support extends to initiatives such as the Yarrow Intermediate School where efforts include transforming a stationary bus into a fully operational library that accommodates 60 learners, refurbishing classrooms, providing essential school equipment and partnering with medical professionals to address sight and hearing challenges among learners. These initiatives are part of Absa’s broader mission to empower Africa’s future by fostering both literacy and inclusivity one legacy project at a time.

Our partnership with ILoveBoobies has also proven to be a powerful force for good in the community. During our 2024 training camp, we joined forces to provide over 1 000 free breast examinations to Karkloof locals. Since its inception in 2017, ILoveBoobies has screened nearly 10 000 women, 1 376 of whom were screened in 2024. The reach continues to grow, now also extending to the Western Cape and Gauteng. This initiative further highlights our unwavering commitment to driving meaningful change in the communities we serve.

Absa is excited to witness the continued growth of the #SheUntamed programme and will announce the final selection of teams for the ultimate challenge, the Absa Cape Epic, in early February 2025. “We wish our 12 for 21 teams the best of luck as they prepare for the race,” adds Venter. “We look forward to seeing their journey unfold as they embody the true spirit of resilience and collaboration. Our stories go further when we write them together.”

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Media release

Absa partners with Showmax to stream Tyla’s encore concert across 44 African countries

Absa partners with Showmax to stream Tyla’s encore concert across 44 African countries

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Absa, a proudly Pan-African bank, is thrilled to announce its associate partnership with Showmax to stream the highly anticipated final encore of Tyla’s homecoming concert to fans across 44 countries. This partnership underscores Absa’s unwavering commitment to celebrating African excellence and storytelling, with a special focus on empowering the youth and women. By supporting this initiative, Absa shines a spotlight on the incredible talent Africa has to offer while uniting audiences through the power of music and creativity.

Mark your calendars for Saturday, 18 January 2025, as Grammy Award-winning sensation Tyla returns to the SunBet Arena at Time Square Casino in Pretoria for her highly anticipated encore concert. This exceptional evening will not only highlight Tyla’s inspiring journey of resilience and creativity but will also serve as a vibrant showcase of African excellence, the arts and youth empowerment.

“This concert is a game changer for African entertainment, and as a bank with the purpose of empowering Africa’s tomorrow, together … one story at a time, we found it appropriate to associate ourselves with this milestone celebration,” says Candice Thurston, Managing Executive for Brand and Marketing at Absa. “As the first livestreamed event on the Showmax platform, it not only showcases Tyla’s pioneering talent but also reaffirms our commitment to celebrating, capturing and sharing authentic African stories of excellence. We’re proud to bring this experience to our customers and Tyla fans across our 12 diverse markets, uniting them through the power of music and storytelling.”

Tyla’s encore concert will be streamed live on Showmax.com, bringing the energy and excitement of the event to 44 African countries. Among these, 12 Pan-African Absa markets will get to enjoy this historic experience. Fans in the following countries where Absa operates will be able to stream the concert live by logging into Showmax.com: Botswana, Ghana, Kenya, Mauritius, Namibia, Mozambique, Nigeria, Seychelles, South Africa, Tanzania, Uganda and Zambia.

Additionally, Absa has partnered with YFM to offer South Africans and Absa Rewards Customers an exclusive opportunity to get closer to Tyla’s highly anticipated concert. In a thrilling collaboration, listeners can compete live on air during Ayanda MVP’s Home Run show today and tomorrow (Thursday and Friday, 16 and 17 January 2025) by answering three Tyla trivia questions for a chance to win double concert tickets, a R500 Uber voucher and R1 000 cash back for Absa Rewards members. To top it off, YFM will broadcast live from the red carpet at the SunBet Arena at Time Square Casino in Pretoria on 18 January 2025 during the All Girls on Deck show, with DJ Fae Fae and Ayanda MVP bringing fans exclusive red-carpet updates. Don’t miss out on this unmissable celebration!

“We’re all about going beyond banking and creating unforgettable moments,” adds Thurston. “This initiative reflects our dedication to crafting extraordinary experiences and showcasing the best of African talent while fostering pride and unity.”

After her successful and sold-out homecoming concerts in Cape Town and Pretoria in December 2024, Tyla, the youngest-ever African Grammy winner, is set to light up the stage once again, performing hits from her chart-topping debut album, TYLA, which has amassed over 1.6 billion streams globally.

Grab your tickets at www.ticketmaster.co.za or, if you can’t attend in person, stream Tyla’s historic performance live on Showmax.com. Adorn your finest Tyger-inspired outfits with a touch of red and join us at the SunBet Arena at Time Square Casino in Pretoria on 18 January 2025. Alternatively, celebrate alongside fans across the continent via livestream. Prepare for an unforgettable night filled with exceptional music and a vibrant celebration of Africa’s extraordinary talent and innovation!

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Our Voices

A call for greater ambition and collaboration

A call for greater ambition and collaboration

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Punki Modise, Group Chief Strategy and Sustainability Officer

The UN Framework Convention on Climate Change (UNFCCC)’s 29th Conference of the Parties (COP29) concluded in a swirl of debate, promise and disappointment on 24 November in Baku, Azerbaijan. The outcome was criticised for lacking ambition and providing limited action to resolve the challenges faced by developing countries. It reinforced the need for countries like South Africa to focus on adaptation and resilient infrastructure.

The discussions at COP29 focussed on increasing national climate ambitions and carbon markets and, crucially, agreeing on financial flows to developing countries to manage climate change in what is known as the New Collective Quantified Goal on Climate Finance (NCQG). Reflecting on my earlier thoughts about how finance, inclusivity and accountability would define this pivotal conference, it’s clear that while two weeks of intense and polarised negotiations made some progress, significant gaps remain.

The need for more climate finance

Ahead of COP29, I emphasised the criticality of mobilising climate finance to bridge the widening gap between pledges and real-world action. Disappointingly, the conference did not secure a commitment to scale up climate finance adequately. According to the London School of Economics, the delivery of the promised $100bn per year set at COP15 was inconsistent and was only recently met in 2022. The new collective quantified goal, which was tripled to $300bn per year at COP29, remains insufficient to address the scale of the climate crisis. It has been termed “weak” and not reflective of Global South realities. Moreover, there is criticism that this goal will remain aspirational rather than binding.

At the last minute, parties committed to efforts targeting $1.3tn annually by 2035 – with support from the private sector and multilateral development banks. While this figure aligns more closely with expert recommendations and proposals from the Global South, significant uncertainty surrounds whether these funds will ultimately be mobilised. So far, the African continent has received very little of the funding promised by previous climate finance commitments, raising doubts about whether higher ambitions will lead to meaningful, directed support. Much of the $100bn annual commitment was provided as loans, adding to debt burdens. South Africa’s Just Energy Transition Plan exemplifies this, with only 4% of funding received as grants.

COP29 prioritised improving climate finance delivery, focusing on reforms to global financial institutions like multilateral development banks. Key decisions aim to unlock resources efficiently, remove access barriers and simplify funding processes. Our hopes going into COP29 were partly for agreements around climate finance to do just this. While less attention-grabbing, these measures address long-standing delays and inefficiencies for developing countries, potentially marking one of COP29’s most impactful outcomes. However, without greater accountability and more grant-based or concessional funding, these mechanisms may also fail to address the needs of vulnerable nations.

Focus on adaptation and resilient infrastructure 

With limited climate action coming from COP29, the need to resolve the adaptation funding gap of R92bn per year in South Africa becomes crucial. That is why Absa’s revised sustainability finance target will aim to balance mitigation and adaptation efforts. Adaption efforts – particularly through resilient infrastructure development – should have the same focus as mitigation efforts. Years of neglect have left South Africa’s public infrastructure system on the verge of collapse. The lack of infrastructure maintenance, particularly in stormwater systems, roads and buildings, exacerbates the impact of extreme weather events. This neglect leads to more severe flooding, structural failures, and undermined rescue efforts during disasters.

This reality necessitates immediate action from both public and private sectors to enhance resilience against climate impacts. Delayed responses to climate challenges not only escalate costs but also complicate adaptation efforts, leading to more expensive and complex projects in the future. As economic strains mount, the ability to allocate resources for adaptation may diminish, further increasing borrowing costs and limiting financial options for necessary infrastructure improvements.

In response to the challenges of climate change, South Africa enacted its Climate Change Act earlier this year, prioritising adaptation strategies. It empowers the Minister of Forestry, Fisheries and the Environment to set national greenhouse gas emissions trajectories and allocate sector-specific targets, promoting coordinated action across all government levels. While it lacks strict emission reduction targets and penalties for non-compliance, it provides strong provisions for adaptation and cooperative governance. The private sector is essential for implementing climate adaptation policies, while collaborations with the government are crucial for funding projects that align with the Act’s goals.

Collaboration and accountability 

One can identify a prominent theme of COP29 – the need for sustained ambition and collaborative efforts to address financial shortfalls. Absa and other private sector actors have a responsibility to step up here. Businesses must address the financing gap through innovative instruments like blended finance and green bonds. At Absa, we’re exploring mechanisms to drive sustainable investments across Africa through a revised sustainable finance target, having met our R100bn target a year early in 2024. COP29 reinforced the urgency of accelerating this work.

After years of stalled negotiations, COP29 delivered a breakthrough on Article 6, setting the stage for carbon markets to drive deeper emissions cuts and mobilise urgent climate finance. Under Article 6.2, countries can now trade emissions reductions bilaterally with recognition by the UN, supported by transparency provisions to ensure environmental integrity. Article 6.4 establishes a centralised mechanism to transition credits from the discredited Clean Development Mechanism (CDM) to the new Paris Agreement Crediting Mechanism (PACM), though critical fixes are needed to ensure high standards and practical applicability for nature-based solutions.

While some hailed the strengthening of carbon market standards, others decried the absence of firm deadlines for fossil fuel phase-outs despite agreements at COP28 to “transition away from fossil fuels”.  Centralised carbon markets are presented as a solution to address the climate finance gap in developing economies. However, as African nations, we must remain vigilant, working for promised funding to be delivered and ensuring that the burden of unmet commitments does not fall disproportionately on our shoulders yet again.

COP29 underscored the interconnectedness of climate challenges and reinforced the need to leverage public-private partnerships (PPPs). Finance is the enabler, inclusivity the principle and accountability the measure of success. But none of these can be achieved in isolation. The private sector, governments, and civil society must break down silos to foster truly collaborative solutions. Where public leadership faces challenges, the private sector must rise to support, not as a replacement but as a catalyst for change.

As we look to COP30 on the border of the Amazon rainforest in Brazil, the urgency of mobilising climate finance cannot be overstated. The challenges faced at COP29 should serve as a wake-up call, not a reason to retreat. For Africa, the stakes are particularly high, but so too are the opportunities.

* Punki Modise is Chief Strategy and Sustainability Officer at Absa Group.  For more information on Absa Group’s Sustainability story visit www.absa.africa/sustainability

This article was first published in the Daily Maverick on 12 December 2024

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Absa Successfully Closes USD 300 million Green Syndicated Term Loan Facility

Absa Successfully Closes USD 300 million Green Syndicated Term Loan Facility

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Absa Bank Limited (“Absa”) has successfully signed a USD 300 million green syndicated term loan, marking a significant milestone in its commitment to long term investment in sustainability. This facility, coordinated by SMBC Group (“SMBC”) and Standard Chartered Bank (“Standard Chartered”), is Absa’s first green syndicated term loan and the first green use of proceeds syndicated transaction for a South African bank. The facility serves to replace the existing sustainability linked facility which was signed in December 2022. 

This facility exemplifies Absa’s integrated sustainability agenda. With an initial two-year tenor and an option for a one-year extension, the proceeds will exclusively finance and refinance eligible green assets, in accordance Absa’s Sustainable Finance Issuance Framework1. 

Absa’s Sustainable Finance Issuance Framework is a cornerstone of the group’s ESG funding aspirations, addressing material sustainability risk, societal development, and robust governance standards. This framework reflects Absa’s broader sustainability vision of being an Active Force for Good. 

The green syndicated term loan supports Absa’s strategy to address global sustainability challenges through innovative financing solutions. By channeling funding into impactful projects, Absa reinforces its role as a leader in sustainable finance while supporting global efforts to transition to a low-carbon economy. 

Absa has led the way in sustainable finance across Africa. In March 2021, Absa became the first South African bank to announce bold sustainable finance targets, committing to mobilise R100 billion in sustainable finance by the end of 2025.  

The loan facility was well received in the loan market and was significantly oversubscribed, with commitments exceeding USD 550 million from 19 geographically diverse institutions. This overwhelming interest underscores market confidence in Absa’s sustainability agenda and its ability to deliver impactful financing solutions.  

The transaction further reinforces Absa’s belief that sustainable finance is pivotal to achieving long-term environmental and societal goals. As part of its sustainability agenda, Absa is dedicated to providing solutions that not only create value for its clients but also contribute to the global transition toward sustainability goals. 

Full list of particpating banks: 

Co-ordinators, Mandated Lead Arranger & Bookrunners: 

Standard Chartered Bank 

SMBC Group 

Mandated Lead Arranger & Bookrunners: 

Bank of Amerıca Europe DAC,  

Bank of Communıcatıons Co., Ltd. Johannesburg Branch 

Chına Constructıon Bank Corporatıon, Johannesburg Branch 

Industrıal and Commercıal Bank of Chına Lımıted, London Branch 

J.P. Morgan Securıtıes Plc 

Commerzbank Aktıengesellschaft 

Emırates NBD Capıtal Lımıted 

Bank of Indıa, London Branch 

Bank of Chına Lımıted, Johannesburg Branch 

Abu Dhabı Commercıal Bank PJSC 

Landesbank Baden-Württemberg 

Mashreqbank PSC 

Mızuho Bank, Ltd. 

State Bank of Indıa, Johannesburg 

SBI (Maurıtıus) Lımıted 

Wells Fargo Bank, N.A., London Branch 

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Absa Champions African Excellence: Enter to Experience Tyla’s Trailblazing Tour

Absa Champions African Excellence: Enter to Experience Tyla’s Trailblazing Tour

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Get ready! Tyla’s much-anticipated concerts are just around the corner, taking place at the Grand Arena in Cape Town on Thursday, 5 December, and at the SunBet Arena in Pretoria on Saturday, 7 December.

Grammy-winning sensation Tyla is returning home with a two-city tour. From her humble beginnings, Tyla has risen to become one of South Africa’s brightest stars. Best known for her viral smash hit “Water”, she’s had an incredible breakout year, making history as the youngest South African and the first soloist from the country in over 55 years to feature on the Billboard Hot 100.

Absa is elevating the excitement by offering fans exclusive opportunities to win tickets, transforming the celebration into more than just a concert. Through this initiative, the bank reaffirms its dedication to uplifting young women and amplifying powerful narratives that inspire change, all under its heartfelt ethos, “Your Story Matters.” This is more than a gesture, it’s a commitment to empowering communities and celebrating the voices that shape the future.

“In My Story, Tyla,” we see a young woman’s journey from humble beginnings to fame, mirroring the stories of many striving for greatness against the odds. This narrative aligns with Absa’s mission to empower and inspire each woman’s unique journey. With Tyla exemplifying success and resilience, Absa supports this tour to amplify the ‘Your Story Matters’ message for young aspiring women across Africa.

“This ticket partnership is a powerful celebration of African talent and a heartfelt tribute to the stories that define our vibrant cultural tapestry,” says Candice Thurston, Absa’s Managing Executive: Brand and Marketing. “By uniting our communities through the universal language of music, we’re not just supporting concerts, we’re creating transformative experiences that embody our values of empowerment, unity, and pride in our shared heritage.”

Win your way to the concerts!

Missed out when tickets dropped? No stress!

Absa has thrilling ways for you to win double tickets to see Tyla live:

  • Absa TikTok dance challenge:

Show off your moves! Post a 20–30-second TikTok of yourself dancing to a Tyla track, tagging @AbsaSouthAfrica, and add hashtags #InMyStoryTyla #AbsaxTyla #YourStoryMatters.

Lucky winners will score double tickets  to the concerts!

  • Radio: YFM and Heart FM: Tyla Trivia

Think you know Tyla? Tune in to YFM in Johannesburg and Heart FM in Cape Town for a chance to answer Tyla trivia questions and stand a chance to win double tickets!

  • More chances to win: Catch Expresso TV on SABC3 for additional opportunities.

Our Absa colleagues also have the unique chance to win tickets through exclusive draws accessible via our internal channels.

Don’t miss out on this exciting opportunity to experience something special!

With tickets already sold out, these contests offer your best shot to experience Tyla’s magic live. Dive in, get creative and celebrate music and heritage with us!

Stay up to date on all Absa competition details and winners announcements by following:

  • TikTok @absa_group
  • IG @absa.southafrica
  • X @AbsaSouthAfrica
  • YFM, Heart FM and Expresso TV, SABC3.

Enhance your experience

Absa customers attending Tyla’s concert on 7 December at The SunBet Arena in Pretoria can enjoy an exclusive perk to enhance their concert experience: Skip the queues with our fast-tracked entry and step into the event feeling like a true VIP!

“We’re absolutely delighted to provide our Absa cardholders with exclusive, fast-tracked access to Tyla’s highly anticipated homecoming concerts,” says Thurston. “This is about creating exceptional experiences for our loyal customers, giving them the VIP treatment they deserve as a thank-you for their continued trust and support. At Absa, we’re committed to going beyond banking and adding real value to every moment that matters.”

Don’t miss out!

Have your Absa card handy and seize this fantastic opportunity for an unforgettable concert experience.

We can’t wait to welcome you to what promises to be incredible nights of music and celebration at the Grand Arena, Grand West in Cape Town and the SunBet Arena in Pretoria.

For media queries, contact: Shiraz Reddy at OnPoint PR | E: shiraz@onpointpr.co.za | C: 083 454 0840

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Media release

Absa renews title sponsorship of run your city series for four more years, a bold commitment to revitalizing inner cities and showcasing urban vibrancy

Absa renews title sponsorship of run your city series for four more years, a bold commitment to revitalizing inner cities and showcasing urban vibrancy

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Nearly R5 Million raised through absa run your city series to empower schools with sustainable vegetable gardens across South Africa

Absa is proud to announce the renewal of its title sponsorship of the Absa Run Your City Series for an additional four years, reaffirming its commitment to promoting community wellness, revitalizing urban spaces, and driving meaningful social impact through the transformative power of walking and running.

Launched in 2021, the Absa Run Your City Series attracted an impressive, combined total of 45 589 runners and united runners across five dynamic cities including Gqeberha, Cape Town, Durban, Tshwane, and Johannesburg, creating a shared celebration of endurance, unity, and purpose.

“Working with organisations like Jozi My Jozi, the Absa Run Your City Series serves as a transformative force, revitalizing Johannesburg’s inner city and reaffirming a shared commitment to uncovering the hidden beauty and vibrancy of our urban landscapes,” said Sydney Mbhele, Group Chief Marketing and Corporate Affairs Officer at Absa. “This partnership is more than just a race; it’s a movement that embodies our commitment to uplifting communities, championing holistic well-being, and reigniting love and pride for our cities. By showcasing the heartbeat of South Africa’s streets, the event positions our cities on the global stage as beacons of resilience and vibrancy.”

Aligned with Absa’s brand and business positioning, the Run Your City Series is a platform that celebrates every individual’s unique story, whether they are seasoned marathoners, casual joggers, or passionate spectators. The event also serves as a vehicle for meaningful social impact through Absa’s R1 Campaign, where R1 is donated for every kilometre run or walked by Team Absa members on Strava.

"This campaign is a testament to our dedication to making a tangible difference in the areas that need it most," Mbhele added. "In just two years, we’ve raised nearly R5 million, which has been invested in creating vegetable gardens in schools across South Africa. These gardens serve not only the students but also the surrounding communities, fostering sustainable food security and environmental education. Our approach is holistic, empowering communities to not only build but also sustain a legacy of wellbeing and resilience," Mbhele said.

As Absa embarks on the next chapter of the Run Your City Series, the renewed sponsorship aims to elevate the race experience, encourage more participation, and continue to amplify the voices and stories of South Africans.

"Over the years, the Absa Run Your City Series has grown into more than just a race, it’s a celebration of unity, endurance, and purpose," Mbhele concluded. "We are honored to extend this journey for another four years, and we look forward to seeing South Africans lace up their shoes, tell their stories, and make strides, both literal and figurative, towards a better future."

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Navigating SA’s decarbonisation issue in response to CBAM SA’s energy crisis

Navigating SA’s decarbonisation issue in response to CBAM SA’s energy crisis

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Punki Modise – Group Chief Strategy and Sustainability Officer

SA’s energy crisis remains one of the most significant barriers to decarbonisation. The EU’s Carbon Border Adjustment Mechanism (CBAM), due to be fully operational by 2026, represents a major shift in global trade and climate policy. Designed to impose a carbon tariff on imports of carbon-intensive goods such as steel, cement, aluminium and electricity, it aims to align with the EU’s broader Green Deal. The CBAM will effectively create a “carbon price” for products entering the EU market, incentivising exporters to reduce their carbon footprint.

For countries like SA, where high-emission industries play a significant role in the economy, the implications of the CBAM are particularly profound. Sectors such as aluminium, steel and cement are expected to experience export declines, with predictions indicating that aluminium exports to the EU could fall by 13.9%, iron and steel by 8.2%, and cement by 3.1%.

As the CBAM nears implementation, SA finds itself at a critical juncture. The challenge is twofold: the country must decarbonise its key industries to align with international standards while mitigating the economic and social effects that this transition will inevitably bring. The broader question is how SA will navigate these pressures and what role stakeholders — including financial institutions, the government and private industries — will play in ensuring the country’s decarbonisation journey is just and sustainable. Role of financial institutions: supporting the transition Financial institutions are central to SA’s decarbonisation efforts. They can offer crucial capital and advisory services to help businesses transition to low-carbon technologies. The high costs of adapting to CBAM’s carbon tariffs can be alleviated through financial support, particularly for industries most vulnerable to the new regulations. Financial institutions are well-positioned to steer industries through the turbulence caused by CBAM, employing a strategy based on three key pillars: 1. Financing low-carbon technologies: financial institutions have a critical role in offering sustainable financing solutions, such as green loans and sustainability-linked loans, which enable businesses to invest in renewable energy, energy efficiency improvements and carbon capture technologies. These solutions not only help industries meet their emissions reduction targets. but also position them for future growth in a low-carbon economy. By facilitating investments in greener technologies, financial institutions help industries remain competitive under the CBAM regime. 2. Climate risk assessments: Financial institutions are integrating climate risk assessments into their lending strategies to help clients, especially those in high-emission sectors, understand their exposure to climate-related risks. This foresight ensures that industries are not just prepared for the immediate impacts of CBAM but are also resilient in the long term. These assessments are increasingly crucial as businesses confront the dual pressures of complying with international carbon pricing policies and transitioning to cleaner technologies domestically. 3. Balancing decarbonisation with job preservation: One of the most significant challenges in SA’s transition is ensuring that job losses are minimised. With a high unemployment rate, SA cannot afford to lose jobs in key industries, even as it moves towards a greener economy. Financial institutions can play a vital role in ensuring that the transition is both socially and economically inclusive by supporting industries in their green transition while maintaining employment. Negotiating fair terms In addition to financial solutions, SA’s response to CBAM must include a strong diplomatic effort to negotiate fair terms with the EU. Xolelwa Mlumbi-Peter, SA’s ambassador to the World Trade Organisation (WTO), underscored the concerns raised by SA and other African nations about the CBAM’s potential disproportionate impact on developing economies. While global climate action is critical, the mechanism risks placing African countries — which have contributed the least to global emissions — at a competitive disadvantage. Mlumbi-Peter emphasised that climate change measures should reflect the principle of common but differentiated responsibilities, as outlined in the Paris Agreement. Developing countries like SA, which are still reliant on high-emission industries and lack the financial and technological resources to rapidly decarbonise, require more time and support to transition. The EU’s carbon pricing system, which could lead to an estimated $1.5bn annual loss in SA exports, particularly in sectors like steel and aluminium, poses significant risks to trade, employment, and overall competitiveness.

To mitigate these risks, SA’s diplomatic efforts must focus on securing extended compliance timelines and exemptions for developing nations. This includes advocating for increased climate finance and technology transfers from developed countries, ensuring that the economic burden of decarbonisation is shared more equitably. Mlumbi-Peter’s call for a more inclusive, consultative approach to international climate policy, particularly for mechanisms like CBAM, is crucial in ensuring that SA’s transition is fair and sustainable.

Balancing technological innovation with socioeconomic realities

The transition to a low-carbon economy is not just a financial and diplomatic challenge — it also requires significant technological innovation. As noted by Márcia de Oliveira Ramos Furlan, principal specialist at ArcelorMittal SA, while companies like ArcelorMittal are committed to decarbonisation, there are substantial technological barriers to overcome. For instance, the SA steel industry still relies heavily on blast furnace-based production, which plays a critical role in generating the scrap metal needed for future lower-emission steel production methods. However, transitioning to cleaner production methods is hindered by the high costs and limited availability of affordable hydrogen and carbon capture technologies. Without adequate financial backing — comparable to the subsidies and grants offered in other regions such as the EU, US and Canada — SA risks falling behind in its decarbonisation efforts. De Oliveira Ramos Furlan emphasised the need for policies that align with SA’s socioeconomic realities, taking into account the country’s high unemployment rate, poverty and inequality. The transition to a lowcarbon economy must be just, ensuring that vulnerable communities are not disproportionately affected by carbon pricing mechanisms such as CBAM. Saliem Fakir, executive director at the African Climate Foundation, pointed out that EU firms operating in SA’s high-carbon industries should have a say in how CBAM is applied, as it affects both their profitability and their future investments in the country. The unilateral nature of CBAM could hinder Africa’s industrial growth and trade, making it essential for SA to align its decarbonisation strategies with international climate policies while safeguarding its economic interests.

Addressing SA’s energy and infrastructure gaps

SA’s energy crisis remains one of the most significant barriers to decarbonisation. Fakir noted that while the country is making strides in its green transition, critical energy and infrastructure gaps need urgent attention. The country’s unreliable electricity supply, outdated grid infrastructure and high energy costs pose substantial challenges to integrating renewable energy sources such as solar and wind into the grid. Addressing these gaps will require significant investment in grid modernisation, energy storage solutions and distribution infrastructure to manage the intermittent nature of renewable power and ensure energy security. To mobilise the necessary investments for both the energy sector and the broader decarbonisation agenda, strong public-private partnerships are essential. Financial institutions can play a pivotal role in bridging this gap by offering long-term funding and incentivising green projects through innovative financial instruments such as green bonds. Without these partnerships, the financing needed to support renewable energy projects and green infrastructure will remain out of reach for many businesses and communities. In conclusion, the EU’s CBAM presents SA with a critical opportunity to rethink its decarbonisation strategy in alignment with international climate policies. However, the path forward must be carefully navigated to ensure that the country’s economic and social fabric remains intact.

By adopting a collective approach that involves financial institutions, government and industries, SA can accelerate the transition to a low-carbon economy while mitigating the impacts on jobs and trade. The success of this transition hinges on investments in low-carbon technologies, robust climate risk assessments, and strong publicprivate partnerships. Additionally, diplomatic efforts must continue to negotiate fair terms for developing nations, securing the necessary climate finance and technology transfers. As SA moves towards a greener future, a holistic strategy — one that balances environmental imperatives with socioeconomic realities — will be crucial in ensuring that the country emerges more resilient, competitive, and aligned with global sustainability goals. This is not just a matter of compliance but an opportunity to position SA as a leader in the global climate agenda.

 

This article was first published on Business Day on 15 November 2024

Solar panels and wind turbines generating renewable energy for green and sustainable future.
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The four letters that will define COP29

The four letters that will define COP29

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By Punki Modise, Group Chief Strategy and Sustainability Officer at Absa.

In the halls of the Bella Centre at COP15, developed nations committed to mobilising $100 billion per year by 2020 to support both mitigation and adaptation efforts in developing countries.

This financial promise was intended as a lifeline for nations facing the worst climate impacts despite contributing the least to global emissions. Yet, more than a decade later, the gap between this promise and today’s urgent realities is wider than ever.

The scale of the challenge has only grown. In 2022, 13 years after the initial pledge, developed countries finally met – and slightly exceeded – the $100 billion target, according to Organisation for Economic Co-Operation and Development (OECD) figures. However, much of this funding has come as loans, raising sustainability concerns for recipient nations already burdened by debt. Experts estimate that meeting the Paris Agreement’s targets will require trillions of dollars annually by 2030, underscoring the need for a far more ambitious financial commitment.

The New Collective Quantified Goal (NCQG) – a post-2025 climate finance target – is set to be a defining agenda item at COP29, aiming for a more ambitious and equitable financial commitment for developing countries. Setting the NCQG correctly will mean moving beyond the $100 billion baseline to a robust, modernised framework with debt-free support, transparency, and scaled-up contributions from both public and private sectors. To ensure climate financing mechanisms address real needs, the NCQG must be co-designed in close collaboration with recipient nations, incorporating their perspectives and priorities at every stage. Anything less risks falling drastically short of the real need.

For African countries, this is especially critical. In pre-COP29 strategy meetings held in September, the African Group of Negotiators emphasised the need for increased, predictable, and accessible financing. They underscored the persistent gap between pledged and disbursed funds and warned that without transparent tracking mechanisms, there is little accountability to ensure these commitments translate into tangible support.

Local communities – those bearing the brunt of climate impacts – are too often overlooked in funding mechanisms, which remain bureaucratic and challenging to access. The NCQG must dismantle barriers that prevent equitable access, such as complex application processes and stringent eligibility criteria, enabling local communities to receive timely and effective support. The group called for streamlined processes and capacity-building efforts to ensure that countries can better navigate the complexities of climate finance while also developing an Africa-led submission on the financial targets for COP29.

Some African leaders, including South Africa’s Forestry, Fisheries, and Environment Minister Dion George, advocate for the NCQG to be set at $1.3 trillion annually, citing the urgent need for predictable and accessible resources. For nations already dealing with severe droughts, floods, and agricultural losses, climate financing must prioritise resilience-building, protective infrastructure, and equitable adaptation support. Climate impacts vary widely across regions, and the NCQG must account for this diversity, ensuring tailored support that empowers each nation to address its unique climate challenges.

There is also a moral imperative at play. Addressing historical imbalances requires an equal partnership in shaping the NCQG, ensuring that African and other developing nations’ insights and priorities are embedded at every level. The continent is home to some of the fastest-growing economies and populations, and a significant investment in its climate resilience now, through mechanisms co-designed with recipient nations, will pay dividends in stability, economic growth, and reduced migration pressures globally.

Yet, the global landscape in which this NCQG is being shaped remains complex. Pivotal elections in key donor nations may shift climate priorities, while macroeconomic challenges push these countries to focus on more immediate domestic issues. Additionally, the EU’s new Carbon Border Adjustment Mechanism (CBAM) could introduce economic pressures on developing countries reliant on exports. As a result, some developing nations may argue that CBAM revenues should contribute to NCQG funds – a position that could gain traction in negotiations.

As the world gathers in Baku, Azerbaijan these four letters – NCQG – will serve as a critical test of global commitment to equitable climate action. This new goal offers a unique opportunity to rectify the broken promises of past summits and foster a partnership that empowers every nation to confront the climate crisis on equal footing. True climate resilience is built through unity.

Only by including every voice and prioritising an inclusive framework for action can we achieve a future where all nations, from the smallest island states to the largest economies, can confront the climate crisis together.

The time to act is now.