Absa launches extensive COVID-19 payment relief programme

• Relief for consumer, business banking and wealth customers
• Bespoke solutions for corporate and business banking clients
• Additional administration fees waived
• To allow benefits to reach more customers, those who can pay are encouraged to continue payments
• Programme applies to all Absa markets, subject to legislation, regulations and conditions applicable in each country

As South Africa and the world confront the public health, financial and economic implications of the COVID-19 pandemic, Absa Group is rolling out an extensive relief programme for eligible customers impacted by COVID-19.

“We realise that this is a difficult time for our customers and businesses whose financial means are being negatively affected. After careful consideration and engagements with regulators, we are pleased to introduce a comprehensive customer, business and corporate relief programme. This programme, effective on Monday, 30 March 2020, is in line with the principles of an industry agreed approach www.banking.org.za. We urge those of our customers who are able to continue making their payments, to do so. This will enable us to extend these measures to many more who are not in a similar position,” said Daniel Mminele, Group Chief Executive of Absa.

Eligible customers in need of short-term liquidity relief will qualify for the relief programme that applies to Absa’s credit products. These relief measures apply to Absa’s corporate, wealth, business bank, private bank and retail customers. Crucially, this programme will not attract additional administration fees for customers.

Support to corporate and business banking clients will entail solutions based on their unique requirements and operations. Businesses and corporates are encouraged to contact their relationship managers for further details.

The programme incorporates a three-month payment relief and allows customers in need of short-term financial relief to reduce their monthly instalments. Customers in good standing (with up-to-date accounts), and who have been financially impacted by the pandemic will have the opportunity to opt-in for payment relief, aimed at assisting with cash flow needs. This means the programme will give customers the opportunity to either continue paying if they are in a position to, to pay reduced instalments by agreement with the bank or to defer payments for a period of three months.

Relevant agreements will be adjusted, by revising the loan period and capitalising interest during the relief period.

“The programme is testament to our commitment to finding real, customer-focused solutions, in a time of great uncertainty for everyone,” said Arrie Rautenbach, Chief Executive of Absa Retail and Business Banking (RBB) South Africa.

The principles applicable to this relief programme in South Africa are extended to Absa’s other markets in Africa but will be implemented subject to the various conditions, laws and regulations applicable in each country.

“Absa campuses also have small and medium sized enterprises such as hairdressers, pharmacies, florists and coffee shops, among others as commercial tenants. In recognition of the role SME’s play in creating jobs and sustaining livelihoods, these businesses have been granted a rental holiday for the next three months,” concluded Mminele.

We will continue to monitor the situation closely and adjust our relief programme where necessary.

Absa Payment Relief Programme: FAQs

• What does Absa’s Payment Relief Programme entail? What is Absa’s Payment Relief Programme?
• When will the solution be available?
• Will there be different criteria for various products and businesses/individuals?
• Will the relief programme also be available to Absa colleagues?
• Why did Absa launch the programme?
• Banks have been criticised for lack of support to date. Why did it take so long to launch this programme?
• What about customers under debt review?
• What steps should customers take who would like to opt in?
• What are the benefits of the Payment Relief Programme?
• Will interest still be capitalised?
• Moody’s has downgraded SA’s credit rating to junk. Are you not concerned about credit risk?
• How will the payment relief impact your Absa homeowners insurance?
• Are there any administration costs for effecting the payment relief?

Customer Questions & Answers (core issues)
 

• 1. Is it safe for customers to use Absa branches?
• 2. If an Absa branch is temporarily closed, how can I take care of my banking needs?
• 3. Will Coronavirus affect customer service or other services that Absa provides to me or my business?
• 4. Is it safe to handle cash?
  
• 5. Is it safe to use point of sale (POS) machines?
• 6. Does Absa have a plan to disinfect surfaces in busy areas often?
• 7. Is it safe to use ATMs?
• 8. Are clients screened or required to declare their recent travel as they enter our branches and campuses?

Contractor Cleared of COVID-19
 
Further to the notification we provided yesterday, Absa wishes to convey to the public that we have been informed that the results for individual who was tested for COVID-19 have come back negative. This outcome has been reported to the National Institute for Communicable Diseases (NICD) in line with stipulated guidelines.
 
All Absa colleagues who had been in contact with the individual, and who were also requested to self-isolate as a precautionary measure, will also be cleared to return to work.
 
Absa has in place protocols to educate and protect its employees in the wake of the global COVID19 pandemic, and will continue to work closely with health officials and experts to monitor the situation and prepare to respond in accordance with best practice.

*Salient points: 

• Headline earnings increased 1% to R16.3 billion
• Revenue increased 6% to R80 billion 
• Operating expenses growth contained to inflationary levels, increasing 6% to R46.4 billion
• Pre-provision profit increased 5% to R33.6 billion
• Return on equity declined to 15.8% from 16.8%
• Dividends increased 1% to R11.25 per share.

*Note: normalised values (stripping out the effect of the separation from Barclays PLC)

Johannesburg, 11 March 2020 –– Absa Group Ltd. today reported improving revenue growth for the 2019 financial year, with headline earnings growing slightly. 

“We delivered a resilient performance against a challenging macroeconomic backdrop. We maintained balance sheet momentum and growth was broad-based across most businesses,” said Daniel Mminele, Absa Group Chief Executive.

Absa Group revenue increased 6% while headline earnings, the measure most analysts use to gauge profit, rose 1% as impairments increased. 

“Our revenue growth is showing an improving trend, with strong deposit growth of 12% and customer loan growth of 9% for the Group,” said Absa Group Financial Director, Jason Quinn. 

Overall, Absa’s balance sheet, revenue and earnings growth were in line with peers after lagging for a number of years.

Absa launched its growth strategy in March 2018 after Barclays PLC ceased to be the controlling shareholder in the Pan African banking group. Absa is on track to complete its separation programme, one of the largest in the banking sector in terms of size and complexity, on time and within budget by the middle of 2020.

Performance highlights from Absa’s three core businesses:

Retail and Business Banking South Africa

RBB South Africa continues to show signs of turnaround as the unit gained ground in key areas, recording increases in customer loans and deposits. Revenue momentum increased and costs were well contained. However, an increase in impairments eroded earnings. 

Highlights include:

• Gross loans and advances grew by 7% to R530 billion
• Deposits grew by 10% to R373 billion
• Non-interest income grew by 6%
• Cost-to-income ratio improved to 57.7% from 58.4% in 2018
• Customer growth of 1% to 9.7 million
• Market share growth in retail deposits and retail loans and advances, including personal loans, new home loans and vehicle finance.

Corporate and Investment Banking (CIB)

CIB’s earnings growth was driven by strong performance in countries outside South Africa, which partially offset a decline in earnings in South Africa. 

Highlights include: 

• Continued growth momentum in ARO with total income growing 15% (12% in constant currency) to R7.4 billion
• Solid income growth from Corporate Bank franchise up 9% (8% in constant currency) to R10.6 billion
• Strong growth momentum in the trade finance business in SA, with a CAGR of 19% in the last four years.

Absa Regional Operations (ARO)

ARO, comprising Absa Group’s African operations excluding South Africa, delivered strong financial performance in 2019 with earnings growth of 16% (12% in constant currency), enhancing the overall Group’s position.

Highlights include:

• Revenue grew by 14% (11% in constant currency)
•  Pre-provision profits increased by 17% (14% in constant currency)
• Cost-to-income ratio improved to 57.8%
• While separating, ARO has grown its retail primary customer base in 2019 to 1.5 million customers.

Outlook

South Africa’s macro environment has consistently disappointed for the past five years, and the outlook remains muted, compounded by the recent outbreak of coronavirus which will have an impact on the global macro outlook, and which will also have implications for the economic prospects in our other operating regions. 

“We will continue to drive the execution of our strategic objectives with agility, and take advantage of emerging opportunities, while managing risks more effectively in response to changes in the operating environment,” said Mminele.

Absa Corporate and Investment Banking (CIB) claimed top honours in the 12th EMEA Finance African Banking Awards for 2019 when it was awarded Best Investment Bank in Africa; it also won Best Investment Bank in Botswana, South Africa, Tanzania, and Zambia as well the Best Equity House in Mozambique and the Best Loan House in South Africa.

“We are honored to be chosen as the best investment bank in Africa at these highly respected industry awards, and it is testament to the hard work the team have put in to make our business more and more client focused while ensuring we deliver to the level expected of a leading investment bank. We have seen a growing appetite by our clients to invest and expand across the continent, both in the markets that Absa operates in and in non-presence countries. We are here to provide the solutions that help our clients realise their ambitions across this continent”, says Absa CIB CEO Charles Russon.

The awards recognise the achievements of retail and investment banks as well as their asset management and brokerage operations across the combined emerging Europe, Middle East and Africa (EMEA) regions.

David Renwick, Head: Investment Banking Division says, “Absa owes these achievements to incredible partnerships it has built with its clients and the talented teams within the business that continuously demonstrate world-class expertise and capabilities across a range of solutions and markets for clients in Africa. These included various Advisory, Capital Raising and Financing mandates, in addition being the joint-lead arranger in the first social bond ever raised by a corporate in Africa.”

The other notable achievement for the bank was its selection as joint book-runner on the Airtel Africa Plc dual IPO on the London and Nigerian Stock Exchanges, where Absa was also Joint Issuing House in Nigeria as well. Renwick says this was the largest African IPO since 2018 and the largest ever IPO on the Nigerian Stock Exchange.

Barclays Tanzania Managing Director Abdi Mohamed says, “We are honoured to be receiving this award. We thank our customers and all our stakeholders for the ongoing support. As we transition our brand to Absa over the coming months we will continue to focus on innovation, service delivery, and bringing possibility to life for our customers.”

These awards speak to how Absa is pushing the financial boundaries by developing new propositions that remove obstacles and reduce our client’s pain points, in addition to being a socially responsible bank in all the markets where we operate.

MD of Barclays Bank Zambia Mizinga Melu says, “We are honoured to be the recipient of the 12th EMEA award. Being recognised for this prestigious award is testimony of our Corporate and Investment Banking capabilities that are anchored on supporting the growth of key sectors of our economy, building strong partnerships with our clients as well as connecting clients to larger markets through our regional and global footprint. As we embark on our journey to Absa, we will continue to provide our customers with innovative banking solutions that not only meet their needs, but help to shape the banking sector in Zambia,” she said.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined for a fourth consecutive month to reach 44.3 in February 2020. The 0.9-point decline brought the index to the lowest level since the second half of 2009 when the economy started to recover from a deep recession triggered by the global financial crisis. While four points below the average reading in 2019, the current level is still about six points above the lowest point reached in 2009.

Four of the five subcomponents of the headline PMI declined in February, with only the supplier deliveries index increasing compared to January. This index is also the only one above 50 points, with all others pointing to a worsening in conditions. The business activity and new sales orders indices in particular deteriorated sharply after recording improvements in the previous month. Both indices reached almost 11-year low levels. Some respondents flagged load shedding as a reason for the decline in activity. Weakness in external demand also seemed to have contributed to the drop in sales orders. With business activity remaining below the neutral 50-point mark for a seventh consecutive month, the employment index nudged even lower in February.

Eskom’s announcement of a high likelihood of load shedding during the next 18 months likely contributed to the further deterioration in sentiment regarding business conditions going forward. The index tracking expected business conditions in six months’ time fell to the lowest level since 2009. The current level of 38.7 index points is less than half of the index value recorded in February 2018 at the peak of Ramaphoria. Continued concerns regarding the strength of the global economy likely also contributed to the souring in sentiment as respondents noted a decline in export sales for a fourth consecutive month. November.

• PMI Infographic February 2020
• Absa PMI February 2020

By Dr Reaan Immelman, Head: Education Delivery

According to Stats SA, 63.4% of South Africa’s unemployed people are between the ages of 15 and 34, and more than half of South Africa’s youth say that they don’t have the financial means to pay for tertiary tuition. Eighteen percent of 18-24 year olds say that they don’t attend any form of post-matric education because their poor school level performance prevents them from participating.[1] It’s clear: the burden of South Africa’s heart-breaking unemployment rate rests on young people.

And despite data from 2018 indicating that the number of graduates from public universities more than doubled from 2000 to 2016, the sector still faces challenges in poor completion rates, or longer than usual study terms, with some students taking up to six years to complete a three-year qualification.

Furthermore, many school leavers and graduates lack the essential skills required to participate in a formal working environment, while others, who could potentially become entrepreneurs and employers themselves, don’t have the knowledge or insights into how to kick start their own futures.

In its commentary on youth unemployment figures for the first quarter of 2019, Stats SA noted that ‘graduate unemployment is still lower than the rate among those with other educational levels, meaning that education is still the key to these young people’s prospects improving in the South African labour market’.

Government is working hard to address challenges in the system, with Basic Education Minister Angie Motshekga noting earlier this year that the Department’s focus is on re-engineering the system to be faster and smarter, including compulsory early childhood development, decolonising education, and adding new subjects in response to the fourth industrial revolution, such as coding and robotics.

While Government’s commitment to free education has welcomed many more students into tertiary education at universities and technical vocational education and training (TVET) institutions, this is only available to households that earn less than R350,000 per year. Families that earn more than that are expected to pay fees – but many of these are not eligible for study loans, and cannot afford tuition fees despite being in a higher income bracket.

With the poorest of the poor being looked after by government, and wealthy families able to afford to send their children to their tertiary institution of choice, it’s this ‘missing middle’ of families with an income of between R350,000 and R1 million per year that need external support if they are to avoid adding even further to unemployment statistics.

Any engagements that intend to make it possible to bridge the gap between education and the world of work must be grounded in an appreciation that a comprehensive approach to tackling these challenges must focus both on supporting learners’ access to education, as well as supporting the administrators and institutions that deliver it.

Contributing to systemic structural change in the education eco-system can be achieved by creating platforms to address knowledge gaps, providing opportunities to increase the employability prospects of young people, and supporting institutions and administrators with technical assistance to improve the delivery of quality education.

This can be done through a range of collaborations that focus on education delivery, education reform, strategic engagements and thought leadership, and colleague engagements.

Adopting a global view of addressing unemployment has made some offerings available to users further afield than South Africa. For example, the Ready to Work platform is used globally, and provides learning material that will help young people develop work skills, people skills, money skills and entrepreneurial skills. Young people can select their own learning pathway depending on individual needs and complete the learning online using computer, tablet or mobile platforms. The programme has been immensely popular, with close on 200,000 people having completed modules since 2017.

With critical thinking being a vital skill in the workplace, partnering with Tshimong to roll out the National High School Debating Challenge, supported by a podcast on Cliff Central, has given learners across the country an introduction to this platform.

A key element of employment – and even managing unemployment – is financial literacy. Partnering with accredited training companies across the country to offer face-to-face consumer financial education interventions are appreciated by all beneficiaries. Partnerships with the ASISA Foundation Trust, specifically in the TVET college sector, assisted students to be more moneywise.

A partnership with the Gordon Institute of Business Science gives high school learners a platform to define and voice their vision for South Africa, and includes activities where learners can engage with policymakers and peers about issues that define the country’s future.

Collaborating with the Department of Basic Education and the Maharishi Education for Invincibility Trust has made the delivery of the department’s employability, entrepreneurship and education (E-cubed) programme to 2,000 learners possible, with the hope of inspiring every single one of them to complete school, study further, or even to start their own businesses.

Also collaborating specifically with the Gauteng Department of Education in its Schools of Specialisation programme means that these schools will be able to offer specialised curricula, improving learners’ skills and chances of employment.

These are in addition to scholarship programmes that give access to tertiary education to students that would otherwise be excluded from these life-changing opportunities. Scholarships for 50 of the Mandela 100 Scholars to attend the African Leadership University (ALU) in Rwanda are also part of a global approach to resolving access to education and employment, with a particular focus on empowering women.

Good corporate citizenship means making – and keeping – a social promise to be an active force for good across all communities in which a business operates, making it possible for people to access the tools they need to change their circumstances and become active in the workforce. At a time when youth unemployment is one of the biggest threats facing our young democracy, there simply is no other choice to make.

By Phumza Macanda, Head of Media Relations, Absa Group

The Annual Meeting of the World Economic Forum (WEF), held in Davos each January, is often seen as a gathering of the world’s elite and decision makers, who come together to find solutions to pressing problems they may never have to deal with. Yet, it is so much more than that. The gathering, which celebrated its 50th anniversary this year, provides a platform where ideas are exchanged, networks forged, and commitments made.

It’s where concepts are tabled and become – in one form or another – concrete reality.

Underpinning this year’s Annual Meeting was the Davos Manifesto 2020. This document builds on the original Davos Manifesto of 1973, which first articulated the stakeholder concept that businesses should serve the interests of all society rather than simply their shareholders. The updated 2020 Manifesto provides a vision for stakeholder capitalism that touches on a range of important issues of our time, including climate change, automation and globalisation, fair taxation, zero tolerance for corruption, executive pay and respect for human rights.

Globally, stakeholder capitalism is fast gaining momentum. The current [capitalist] economic system represents a betrayal of future generations, owing to its environmental unsustainability. Pure capitalism does not pay enough attention to the impact of business on society and on the environment and we have witnessed customers using their purchasing power to protest against companies who do not have sustainable business practices.

This has become more pronounced in recent years and we have seen the greatest advocacy coming from the youth.

Generation Z, such as 17-year old Swedish climate activist Greta Thunberg, no longer want to work for, invest in, or buy from companies that lack values beyond maximizing shareholder value. They expect the companies in their lives to be aligned with their values and building trust in a company is no longer just about how it treats them, it’s also about how it contributes to the broader society and the environment.

Future generations will increasingly demand conscious companies driven by conscious leaders, and executives and investors have finally started to recognize that their own long-term success is closely linked to their stakeholders.  The simple idea – that you can do well by doing good – has created exciting new opportunities and has given many businesses a distinct competitive advantage.

Many people however still have the misconception that “doing good” means making less money and that there is always a trade-off between financial return and impact. This is frankly not the case. In fact, this is the only business model that will survive.

The Business and Sustainable Development Commission, launched in Davos in January 2016, did an exercise which showed how the Sustainable Development Goals (SDGs) can unlock $12trillion in business opportunities, presenting the obvious opportunity of doing well whilst doing good. We have seen this with companies like Unilever, Whole Foods Market, and Starbucks who are revolutionising capitalism, by considering the community and the environment as key stakeholders and integrating them into every business decision.

The move is reappearing against a backdrop of climate crisis and alarming social challenges, with Klaus Schwab, founder of the WEF, believing that all stakeholders should be influenced by long-term perspectives. Changing the narrative won’t happen overnight, but the consensus reached at WEF is that we need to make room for the conversation.

As Director-General of the International Labour Organisation (ILO), Guy Ryder said, ‘this includes making sure that there are no human rights violations anywhere in your supply chain, and this means auditing the process down to a granular level. Ensuring that the nuts in a food product aren’t harvested from a remote village endorsing child labour’.

The tough part about this is whether investors and consumers would know if this sort of abuse is happening or swept under the rug. The stark reality is that, unless there’s a media expose, most people simply will not be aware if a company uses child labour, or if they are polluting the Amazon.

And this is where a new set of measurements for companies comes in.

Measuring the impact of companies

Brian Moynihan, American businessman and the Chairman and CEO of Bank of America is behind a move, endorsed by Schwab, to bring about a set of metrics against which companies will measure their impact on the communities and environments in which they operate, or impact.

These measures are set to be available by August this year, allowing companies to measure their sustainability, with the plan being to encourage sustainable business and sustainable investment. These measures are the outcome of bringing together the minds of 100 Chief Executive Officers across the globe.

What this means is that companies can actually measure sustainability, in a way that all stakeholders – from investors to companies – can agree upon. These metrics could then be measured against and reported upon in annual reports, and the plan is now to ensure wider adoption.

What the new set of measures also do is trim the number of metrics against which a company can be measured. The previous 650 measurements were far too weighty and complex to allow anyone to draw meaningful comparisons. Now, there are 22 metrics, which are clearer and more concise.

Perhaps best of all, investors will use these results when deciding where to place theirs or others’ funds. Investors will now easily be able to see which companies are sustainable and will contribute towards the long-term future of the planet, and all those who live here.

Digital conundrum

An important part of ensuring that companies are sustainable into the future is ensuring that they have a workforce that is future fit.

Another key theme to emerge from WEF this year was just how to make certain that your employees can help your company grow as the Fourth Industrial revolution (or 4IR as it is commonly abbreviated) become increasingly entrenched in everyday lives.

Ginni Rometty, chair, president, and CEO of IBM, explained during a session that the era of 4IR means all jobs will change; tasks are moving to the high-end and low-end, hollowing out the middle. This calls for massive retraining and a change in the paradigm around future skills.

In keeping with the notion of stakeholder capitalism – maximising benefits for all – there is no point in the digital era if it is not inclusive but divides the world into more haves and have nots. That means ushering this technology in a way that is beneficial to everyone.

During one session on the second day of the WEF Annual Meeting, members of the audience were asked to vote on whether they thought their current skills would outlast their career. They were also asked whose responsibility it is to help reskill the workforce.

The answer to the first was an overwhelming no, while more than 80 percent of the audience said a collaborative effort was required to reskill employees.

What does this mean? Well, there seems to be agreement that reskilling and upskilling the workforce is not a job for a specific sector or entity. We all have a job to do to ensure that everyone has the skills they need to contribute to a sustainable future for people and planet.

Absa Group is a Strategic Partner Associate of the World Economic Forum. The Group has a deep commitment to Africa’s success, and the principles of the 2020 Davos Manifesto will feed into our strategy as we work to change Africa’s development trajectories and bring our shared futures and Africa’s possibilities to life.

Absa Group Limited’s Barclays-branded subsidiaries in seven African countries – Botswana, Ghana, Kenya, Mauritius, Seychelles, Tanzania and Zambia – were renamed as ‘Absa’ today, completing the name change across the continent. Absa Group’s subsidiaries in Uganda and Mozambique were renamed in November.

The renaming of the remaining subsidiaries today marks another substantial milestone in Absa’s separation from Barclays PLC, a three-year process scheduled for completion by mid-2020.

“More than a name change, this is a milestone that brings us closer to realising our ambition as a leading African bank to support growth and development on the continent and beyond,” said Absa Group Chief Executive Daniel Mminele. “We are now united under a single brand in 12 countries in Africa.” Absa also has representative offices in London and New York.

The group-wide rebranding programme, one of the largest corporate rebranding projects in Africa currently, started with the launch of a refreshed visual identity in South Africa in July 2018 to reflect the group’s new identity as a standalone African bank. The name and brand change programme has seen the Absa logo replacing Barclays branding on thousands of asset types, including branches, offices, ATMs, uniforms, cards, stationary, forms, apps, websites and more.

“Today, we as the Absa Group, re-affirm our commitment to contributing to growth and economic development in Africa. We have a long-established and respected legacy in all our African markets, which will serve us well for the future,” said Peter Matlare, Absa Group Deputy CEO and Chief Executive of Absa Regional Operations. “By adopting the Absa name, we are leveraging our rich African heritage in order to drive relevant initiatives that will further unlock our continent’s potential, deepen regional integration and support accelerated growth,” he said.

The renaming of the subsidiaries is being celebrated with an array of events across the countries, as part of the marketing and communications drive to create awareness of the name change. 

The rebranding programme unites Absa’s operations in 12 African countries behind a single identity, purpose and strategy.

Absa brand transition timeline

• March 2016: Barclays PLC announces that it will reduce its ownership of Barclays Africa Group Limited (now called Absa Group Limited) from 62.3% to a minority shareholding, over time. This comes as global bank regulations tighten after the 2008 financial crisis, making it less attractive for international banks to own stakes in banks abroad.
• December 2017: PLC concludes the sell-down, leaving the UK company with a 14.9% stake in the Group. Barclays PLC indicates that this is its long-term desired ownership level, and says that it does not plan to effect further sales at this time.
• March 2018: Barclays Africa Group announces new Group strategy focused on growth, of which Absa Regional Operations (Absa’s operations outside of South Africa) is crucial.
• July 2018: The Group’s name is changed from Barclays Africa Group Limited to Absa Group Limited, and the decision to change subsidiary names to ‘Absa’ is announced. A refreshed brand is unveiled in South Africa.
• November 2019: Barclays Bank Uganda and Barclays Bank Mozambique are renamed as Absa
• February 2020: All remaining Barclays-branded subsidiaries are renamed as ‘Absa’ 

 

In the lead up to the 17th edition of the Absa Cape Epic, Africa’s Untamed Mountain Biking (MTB) Race, Absa will continue to entrench its purpose of bringing possibility to life by launching an initiative called #SheUntamed. #SheUntamed is a programme designed to improve women’s access to the sport of MTB, a programme for women who are passionate about MTB, cycling and living an active lifestyle.

As part of the programme, the Absa Cape Epic will, for the first time in the event’s history, dedicate a session of the 2020 Epic Trippers programme exclusively to female cyclists. The Epic Trippers programme allows riders to experience parts of the regions that the race visits and enjoy some of the country’s best trails, whilst watching the world’s best mountain bikers in action.

Absa has partnered with well-known adventurers, athletes and cyclists Letshego Zulu, Nicole Capper and Phathokuhle Zondi to amplify the #SheUntamed initiative.

Social rider Nicole Capper, who will be taking part in an Epic Trippers session for the very first time, says she is looking forward to a memorable experience. “Being part of the Absa Cape Epic presents another opportunity for me to test my endurance against the most formidable opponent; the great outdoors. After my attempt at summiting Mount Everest and having reached the top of Kilimanjaro, the Epic Trippers Session is the next challenge I look forward to and hope to conquer it,” says Capper.

Zulu echoes the same sentiments and says she looking forward to riding with other women in the Epic Trippers session, having previously competed in two full Absa Cape Epic races. “I have an emotional connection to the race, and I am excited to share my passion for cycling with other #SheUntamed women,” she says.

Female MTB enthusiasts who are up for the challenge can stand a chance to win a place for themselves and a partner at this year’s women’s-only Epic Trippers session in the picturesque town of Tulbagh, Western Cape, 17 – 19 March 2020.

The competition will be driven via Absa’s social media platforms where ladies will need to upload pictures and/ or videos of themselves MTBing and showing their #SheUntamed spirit. The winner of this competition will be announced on 2 March 2020. Ts & Cs apply.

For more information about the Absa #SheUntamed initiative, follow #SheUntamed on Absa’s social platforms.