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22nd Absa Champagne in Africa Festival: A Feast for the Senses

22nd Absa Champagne in Africa Festival: A Feast for the Senses

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Join us for an unforgettable experience at the 2024 Absa Champagne in Africa Festival on 8 November 2024 at the exquisite Summer Place in Sandton. As the title sponsor of this sophisticated event, Absa proudly invites champagne aficionados, culinary enthusiasts, and those who appreciate the finer things in life to join us for a day filled with elegance, and unforgettable experiences.

“The Absa Champagne in Africa Festival is a true celebration of the artistry and elegance that champagne brings to our lives,” shares Sydney Mbhele, Group Chief Marketing and Corporate Affairs Officer at Absa Group.

He continues: “This festival not only showcases the finest French champagnes but also highlights the stories that unite us all, reminding us that at Absa, your story matters.”

The Absa Champagne in Africa Festival is the largest French Champagne festival in Africa, curated in collaboration with the Ambassadeur Dignitaire of L’Ordre des Coteaux de Champagne, members of the centuries-old French order tasked with extolling the virtues of Champagne globally.

This festival is a celebration of this trusted partnership and serves as a world-class and proudly African platform, allowing guests to discover the finer things that embody excellence and “joie de vivre” —an exuberant enjoyment of life.

Step into a world of luxury as they showcase over 40 authentic and distinguished French champagne houses, each offering a unique taste of their finest selections. This festival is not just about sipping champagne; it’s an opportunity to explore the rich heritage and craftsmanship behind each bottle. Guests will be treated to a vibrant atmosphere that brings together the best of the champagne and luxury lifestyle, making it the ultimate destination for enthusiasts and novices alike.

What to expect at the event:

  • Savour Champagne: Delight in the exquisite offerings from renowned French champagne producers, ranging from iconic names to artistic and boutique houses. This is a rare chance to taste, compare, and discover your new favourites.
  • Culinary Delights: Experience an expertly curated gastronomic menu that perfectly complements the French champagnes. Prepare to embark on a culinary journey that will tantalise your taste buds.
  • Cultural Experience: Immerse yourself in a feast for the senses with art installations, live music, and fashion showcases that reflect the elegance of the event. Enjoy the ambience and make memories while mingling with fellow champagne lovers. Each interaction at the festival helps weave the stories of our diverse community
  • Public Access: The Absa Champagne in Africa Festival is open to the public allowing French champagne enthusiasts to be a part of this extraordinary celebration. Come and enjoy an evening of indulgence and entertainment.

A Legacy of Excellence

As the title sponsor, Absa has proudly supported this prestigious festival for over 22 years, previously known as The Absa Champagne Festival.

“In 2021, the event rebranded to the Absa Champagne in Africa Festival, reflecting our commitment to inclusivity and our Pan-African footprint,” says Mbhele. “This year’s festival aims to honour not only the luxury of French champagne but also the stories of resilience and triumph that resonate with our communities.”

He continues, “We are delighted to host the 22nd Absa Champagne in Africa Festival, a true reflection of our legacy and commitment to excellence. This festival embodies the spirit of enjoyment, bringing together the community to appreciate superior experiences, delectable cuisine, and great conversations. We look forward to creating unforgettable moments with our guests.”

Every glass poured and every story shared contributes to a tapestry of experiences that defines who we are. We look forward to celebrating our guests' stories.

Prepare to sip, savour, and indulge with us at this exquisite event! For the latest updates and ticket information, visit Quicket at http://bit.ly/40dZUe5. Tickets for this exclusive joie de vivre are priced at R2250 per person. Don’t miss your chance to be part of this remarkable celebration.

Stay connected with the event and share your experience by using the hashtag #AbsaChampagneinAfrica2024 when posting content. Follow us on social media at X @Absa and Instagram - @absa.africa to stay updated on the festival and join the conversation!

Please click here to find out more

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Absa Group Advances Digital Empowerment and Gender Equality in Tech

Absa Group Advances Digital Empowerment and Gender Equality in Tech

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Absa Group continues to strengthen its commitment to digital innovation and community upliftment through strategic initiatives that deliver tangible, long-term impact. A key component of this commitment is Absa’s ongoing collaboration with Women in Tech South Africa, through which it proudly sponsors the Philippi Village Learning Centre, empowering women and youth with cutting-edge digital skills.

“We aim to be a catalyst for transformation, empowering Africa’s tomorrow, together… one story at a time. Our goal is to help women thrive in tech and shape a future defined by innovation, inclusivity, and shared success,” said Dr. Philile Mkhize, Chief Operations Officer at Absa.

Located in Cape Town’s Cape Flats, the Philippi Village Learning Centre provided crucial resources to over 9,600 individuals in 2023. The centre offers free access to computers, digital skills training, and a safe environment for studying and academic support to residents from Philippi, Gugulethu, Nyanga, Crossroads, and Mandalay.

Philippi Village hosted a hands-on robotics workshop for 25 students aged 10 to 13 on 18 October 2024. This interactive session introduced young learners to the world of programming, robotics, and sensor technology, fostering creativity and critical thinking while inspiring the next generation of leaders in technology.

Through Women in Tech, Absa has also extended its partnership with Amazon Web Services (AWS) to increase women’s access to careers in technology. In 2023, 50 unemployed women achieved AWS Cloud Practitioner certification through this initiative. For 2024, Absa has more than doubled its efforts, upskilling 130 women across South Africa, Zambia, and Kenya, while offering advanced certifications to past graduates seeking to deepen their expertise.

Commenting on the ongoing partnership with Absa, Melissa Slaymaker, Global Partnership Director for Women in Tech South Africa, said, “By 2030, we aim to empower five million women and girls, and Absa stands shoulder to shoulder with us in this mission, actively collaborating to turn this vision into reality.”

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Absa Group and Business Unity South Africa Lead Critical Roundtable on Just Energy Transition: Exploring CBAM’s Impacts and Opportunities to Shape Africa’s Trade and Economic Future

Absa Group and Business Unity South Africa Lead Critical Roundtable on Just Energy Transition: Exploring CBAM’s Impacts and Opportunities to Shape Africa’s Trade and Economic Future

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Absa Group in partnership with Business Unity South Africa hosted a hybrid Carbon Border Adjustment Mechanism (CBAM) roundtable that brought together key industry stakeholders, policymakers, and thought leaders to discuss the implications of the European Union’s (EU’s) CBAM on Africa’s exports, supply chains, and economic sectors.

The discussion highlighted how CBAM presents both opportunities and challenges for African markets as it aims to impose carbon tariffs on imports of carbon-intensive goods such as cement, steel, aluminium, fertilisers, and electricity from countries with less stringent climate regulations than the EU. The policy incentivises sustainable production by ensuring that imports are subject to the same carbon costs as EU-made products.

“Africa accounts for only 4% of global carbon emissions, yet it remains the most climate-vulnerable region. A fair and equitable just energy transition is crucial for Africa to mitigate the economic impact of CBAM, ensuring the continent can transition sustainably without disproportionate financial burdens on its industries and communities. For this transition to happen, governments must create policies and incentives that promote green technologies and enhance carbon reporting.  Strengthening public-private partnerships to develop regional carbon markets will facilitate emission offsets and align with global carbon pricing mechanisms,” said Xolelwa Mlumbi-Peter, Deputy Director-General in the International Trade and Economic Division, Department of Trade, Industry and Competition.

“At Absa, we understand the critical importance of CBAM for our clients and the broader economy. This is a defining moment for African industries to innovate and attract green finance, requiring collaboration among businesses, governments, and financial institutions. While we recognise Africa’s particular vulnerability to climate change, our Net Zero declaration underpins our belief in and support for a Just Transition,” said Punki Modise, Absa Group Chief Strategy and Sustainability Officer.

“Our commitment is to use our financial expertise as an active force for good, empowering Africa’s tomorrow while addressing climate-related risks such as climate finance and green loans. Through our Sustainability, Social, and Ethics Committee, we are dedicated to managing these risks and advocating collectively to ensure a sustainable future for all,” she added.

CBAM presents African businesses with a compelling opportunity to unlock Africa’s potential by strengthening intra-African trade through the Africa Continental Free Trade Area agreement and fostering sustainable regional supply chains. Embracing forward-thinking strategies now, will enable Africa to align with future compliance standards and play a significant role in advancing the global sustainability agenda.

Speaking at the event, Saliem Fakir, Executive Director of the Climate Foundation, said: “Critics argue that CBAM primarily protects the EU’s competitiveness in green industrial development, but its impact will vary across African countries. For example, Africa could face a significant economic hit of up to €25 billion due to the exposure of sectors like steel, cement, and fertiliser.  Lower-income countries like Mozambique face different challenges as half of the aluminium from Mozambique’s Mozal smelter, which exports to the EU, would be affected. Meanwhile, countries like Kenya, Nigeria, and Egypt will experience varying degrees of impact depending on carbon pricing scenarios, though the overall effect on Africa’s GDP is estimated at around 1%. This variation underscores the complexity of CBAM’s implementation and the need for nuanced solutions, as the EU seeks to lead in global carbon pricing while balancing the interests of its industries.”

Insights shared during this discussion concluded that though CBAM presents challenges, it offers African economies a unique opportunity to modernise industries and embrace a greener future. With the right strategies, Africa can leverage CBAM to drive sustainable growth, attract new investments and strengthen its integration into global green supply chains.

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African Development Bank and Absa unveil multi-billion rand financial package to expand sustainable capital markets, boost economic growth for women and youth

African Development Bank and Absa unveil multi-billion rand financial package to expand sustainable capital markets, boost economic growth for women and youth

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The African Development Bank and Absa Group, one of Africa's leading financial services providers, today celebrated a landmark agreement to mark the execution of a transformative financial package aimed at increasing funding for underserved segments, across South Africa and the continent. The target audience includes women-owned businesses, youth entrepreneurs, and small and medium-sized enterprises (SMEs).

In addition to enhancing Absa's regulatory capital, the facility will promote access to finance, deepen domestic capital markets, and ensure continued access to global supply chains for issuing banks in regional member countries, including low-income and fragile states.

The financial package includes:

  • A subordinated sustainability-linked (Tier 2) loan amounting to R1.7 billion, complemented by a non-financial support package of R18 million for capacity building and technical assistance targeted at SMEs, youth, and women-owned enterprises.
  • Subscription of R1 billion into Absa’s inaugural social (Tier 2) bond issuance, with proceeds earmarked for providing affordable housing loans to female homeowners.
  • A trade finance Risk Participation Agreement (RPA) facility valued at $150 million, designed to underwrite the risks of trade transactions originated by African issuing banks, reinforcing Absa’s role as a regional bank.

Several components of the package have already been executed, including the successful issuance of Absa's first Tier 2 social bond on the Johannesburg Stock Exchange in July 2024. The R1 billion proceeds from this bond will be allocated towards affordable housing loans specifically targeting women, empowering them as first-time homeowners in low-income segments.

Leila Mokaddem, Director General of the African Development Bank’s Southern Africa Region, stated: ”This partnership with Absa Group underscores our commitment to driving sustainable and inclusive economic growth across Africa. Through this financial package, we are not only fortifying Absa's capital base but also ensuring that essential funding reaches women, youth, and entrepreneurs, fostering a more equitable and prosperous continent. This collaboration aligns seamlessly with our strategic priorities of supporting Africa’s industrialisation and enhancing the quality of life for its people.”

Absa has secured a R1.7 billion sustainability-linked Tier 2 loan aimed at general corporate business purposes while incentivizing the extension of finance products to women-owned SMEs as a key performance indicator. As part of this agreement, Absa is collaborating with the African Development Bank to enhance skills among both Absa staff and women business owners. A capacity-building training program has been launched to address the unique challenges faced by female and youth entrepreneurs, by providing mentorship and financial solutions.

Charles Russon, Absa Group interim CEO designate remarked: “The finalisation of this package concludes a three-year process that significantly enhances our capacity to fund social initiatives aligned with our commitment to being a force for good. This partnership enables us to increase funding for women and youth in South Africa while facilitating greater trade opportunities across the continent.”

“This partnership aligns with the African Development Bank’s strategic objectives of advancing green, social, and sustainability instruments in the domestic capital markets, supporting African capital market development and regional financial integration,” said Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank. He emphasised that it is designed to empower Absa to effectively disburse funds for highly impactful social and sustainable economic development initiatives.

The $150 million trade finance facility will drive trade support across Africa, addressing the continent's annual trade finance gap of over $100 billion. This initiative will enhance access to financing for key sectors such as agriculture, transport, and manufacturing, while fostering financial sector development and regional integration.

Left to Right: Ahmed Attout, Director, Financial Sector Department, AfDB; Leila Mokaddem, Director-General, Southern Africa, AfDB; Charles Russon, Absa Group Interim CEO Designate; and Deon Raju, Absa Group Financial Director

Left to Right: Leila Mokaddem, Director-General, Southern Africa, AfDB; Charles Russon, Absa Group Interim CEO Designate and Deon Raju, Absa Group Financial Director

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Bridging the cybersecurity skills gap: Absa Cybersecurity Academy provides 33 students with internationally recognised cyber certificates after 3-year immersive programme

Bridging the cybersecurity skills gap: Absa Cybersecurity Academy provides 33 students with internationally recognised cyber certificates after 3-year immersive programme

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Absa Group, a leading financial services provider in Africa, is proud to announce the graduation of two cohorts comprising 33 talented students from the Absa Cybersecurity Academy. Amidst a global shortage of nearly 4 million cyber professionals, according to the World Economic Forum, this milestone represents not only the accomplishments of these young individuals, but a crucial step in growing the cyber sector.

This year marks five years of the pivotal collaboration between the Absa Group and the Maharishi Invincibility Institute (MII), and three years with the Hein Wagner Academy. By newly partnering with the Hein Wagner Academy, Absa has helped visually-impaired youth become internationally recognised cybersecurity professionals – working as a force for good and increasing diversity and inclusion in the cyber industry.

“When you are visually impaired in the workplace, you have to work twice as hard as the other person who has sight. But now with the right tools, like AI and advanced technology, we can do more things – just as much as a sighted person can do,” said Ncebakazi Tyalisi, Hein Wagner Academy graduate.

The Absa Cybersecurity Academy's comprehensive three-year academic curriculum encompasses formal technical education, practical hands-on experience, intensive personal mastery, real-world workplace skills and soft skills development. In partnership with MII, the curriculum also prioritises conscious-based learning.

"This programme is deliberately holistic, offering not only a technical component. At MII, we prioritise mindfulness, such as transcendental meditation and yoga, to help students regulate their stress and cope with anxiety, fast-paced or high-pressure work environments,” said Taddy Blecher, CEO and Co-founder of the Maharishi Invincibility Institute.

This is the third cohort to graduate from MII, with another cohort of 22 students currently undergoing cyber training. However, this is the inaugural graduation for the Hein Wagner Academy cohort – fostering critical skills development within the visually impaired community.

“South Africa’s visually impaired community is often overlooked, yet it holds immense talent, especially in the realm of technology,” said Hein Wagner, Founder of the Hein Wagner Academy. “Together with Absa, we are committed to building a future where accessibility and inclusion are at the forefront. Through this programme, we have empowered these graduates to step boldly into the future, equipped not only with technical skills but the confidence to inspire.”

Students who graduate from the Absa Cyber Academy will leave with internationally recognised certifications in cybersecurity – providing access to worldwide job placement. This year, Absa has committed to providing internships for 23 individuals from the programme and is actively brokering partnerships with other institutions to help place the remaining graduates for internships and eventual employment.

“This programme equips you in more ways than one. I would really recommend it someone else. I didn’t know anything when I came to the Academy but look at me now. I was the first African blind woman to pass the A+ Network+ Certification Training. I'm a blind pro in the technical space, and I'm confident in my abilities,” said Ncebakazi Tyalisi, Hein Wagner Academy graduate.

The Academy's significance goes beyond helping individual students; it tackles the critical shortage of cybersecurity skills in South Africa. According to the World Economic Forum, 52% of public companies globally say they lack the proper resources and skills as it relates to cyber resilience. In line with its strategic intent to be a digitally powered business, Absa is both creating a resource pool for South African business and meaningfully contributing to the communities Absa serves in by upskilling underrepresented youth.

Manoj Puri, Group Chief Security Officer at Absa Group, commented,"As we look to the future, we remain committed to empowering South Africa's youth by providing opportunities in the cybersecurity field—an industry that can be challenging to enter, but holds immense potential. In an increasingly interconnected digital world, cybersecurity is not just important, it’s essential. We need a new generation of skilled, forward-thinking guardians to protect our digital landscape and ensure a secure cyberspace for all."

A career in cybersecurity provides these graduates with highly sought-after skills and opportunities to work across various industries and countries. In alignment with Absa's commitment to be a force for good in the communities it serves, the Absa Cybersecurity Academy continues to cultivate a robust cybersecurity resource pool within South Africa and international markets.

 Absa Group celebrates the graduation of 33 talented students from the Absa Cybersecurity Academy – in partnership with the Maharishi Invincibility Institute and the Hein Wagner Academy.

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A collaborative journey towards the Sustainable Development Goals

A collaborative journey towards the Sustainable Development Goals

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By Punki Modise

In today’s world, sustainability is no longer a choice but a necessity. The United Nations Sustainable Development Goals (SDGs) represent a global call to action, urging all sectors of society to work towards a more sustainable and equitable future by 2030. South Africa has been making steady progress on this journey, and the 2024 Voluntary National Review (VNR) report, recently published by the United Nations Global Compact Network, highlights the private sector’s pivotal role in achieving these goals.

This is the second edition of the VNR, highlighting how businesses across various industries are contributing to global sustainability efforts. It also reaffirms that the road to a sustainable future is best traveled through strong collaboration between the private and public sectors.

Business Opportunities in Sustainability

The private sector has a crucial role to play in realising the SDGs, but sustainability also presents significant business opportunities. According to the United Nations Business and Development Commission, aligning business strategies with the SDGs could unlock an estimated $12 trillion in market opportunities across various sectors.

This potential for growth is particularly relevant as businesses explore new ways to innovate and tap into untapped markets. The SDGs should be considered not just as a global commitment but as an opportunity for businesses to drive economic growth while creating a positive social and environmental impact.

Companies that fail to embrace sustainability as a core part of their strategy risk falling behind. Investors, consumers, and regulators are increasingly demanding responsible practices, and businesses must adapt to these new expectations or face obsolescence.

Challenges and Strategic Approaches

While the potential rewards of aligning with the SDGs are vast, the journey is not without its challenges. Companies must navigate competing priorities, resource constraints, and the complexities of balancing global goals with the immediate demands of their business environments.

The key to overcoming these challenges lies in a strategic approach. To fully realise these business opportunities, companies must first identify the SDGs most relevant to their operations, set clear targets, and integrate these goals into their governance and decision-making processes. This requires strong leadership, clarity of purpose, and a commitment to continuous learning and adaptation.

Data: Driving Accountability and Innovation

In this journey toward sustainability, data plays a crucial role. As businesses align their strategies with the SDGs, robust data analytics are essential for tracking contributions, identifying areas for improvement, and making informed decisions. A data-driven approach not only enhances accountability but also drives innovation, ensuring that business efforts are scalable and impactful.

The VNR report emphasises the importance of improving the measurement and reporting of sustainable practices. By leveraging data, businesses can better understand their impact on the SDGs and adjust their strategies to maximise positive outcomes. This approach is especially critical as the private sector works to align global goals with local realities.

The Power of Public-Private Collaboration and Stakeholder Engagement

Public-private collaboration, powered by effective stakeholder engagement and data-driven insights, is central to advancing the SDGs. One of the standout themes of the 2024 VNR report is the critical role of public-private partnerships in achieving sustainability goals. The ongoing cooperation between South Africa’s Department of Planning, Monitoring, and Evaluation (DPME) and the Global Compact Network South Africa exemplifies the success of such collaboration. Businesses are working closely with government to drive sustainability initiatives, align operations with societal needs, and leverage public resources to advance environmental, social, and governance (ESG) goals.

Effective stakeholder engagement is central to this approach. The private sector frequently leads or participates in multi-stakeholder partnerships, leveraging collective expertise, resources, and networks to address complex sustainability challenges. By fostering collaborative relationships with government, civil society, and other private sector players, companies like Absa can meaningfully contribute to the SDGs.

Absa played a significant role in South Africa’s 2024 VNR submission, underscoring our commitment to the 2030 Agenda. We are proud to sponsor this collaborative process by creating platforms for stakeholders to share insights, case studies, and prioritize actions that advance the SDGs.

Despite these successful partnerships, the report also acknowledges the challenges posed by policy shifts and bureaucratic inefficiencies that sometimes hinder sustained collaboration. A key recommendation from the private sector is the creation of a dedicated platform for ongoing dialogue between public and private sectors to enhance joint effectiveness and ensure long-term success.

Absa’s Role in the SDG Journey

At Absa, one of our core strategic pillars is to be an Active Force for Good. Our climate strategy is anchored on four key pillars, one of which is promoting sustainability and decarbonization efforts. We are committed to finding a careful balance between environmental stewardship, social equity, and economic growth, while reducing our carbon emissions.

Absa plays a leading role in financing the transition to green solutions by empowering clients to adopt sustainable practices. Our sustainable financing initiatives focus on local communities, enabling them to access capital for green solutions that contribute to the broader sustainability agenda.

In addition to this, climate risk management is a key focus area for Absa. We actively manage both current and emerging climate-related risks through our Enterprise Risk Management Framework. By embedding climate risk assessment and governance into our business processes, we ensure that our operations remain resilient in the face of a changing climate. The 2024 VNR report highlights the role of green financing and inclusive finance products in driving sustainable development, particularly within the financial services and fintech sectors.

Conclusion: A Call to Action

As the 2024 VNR report illustrates, the private sector must see itself as a catalyst for achieving the SDGs. By embedding sustainability into core business strategies, companies can drive innovation, create shared value, and contribute to a more resilient, equitable world.

Absa is proud to be part of this movement, championing sustainability through our commitments and partnerships. As we continue to work together with government, civil society, and other stakeholders, businesses across all sectors must step forward to embrace sustainability, ensuring we accelerate progress toward the 2030 SDGs.

Collaboration and strategic engagement are essential as we chart the path to a sustainable future—one where the private sector, in partnership with the public sector, plays a transformative role in achieving the United Nations’ ambitious goals.

 

Punki Modise is the Chief Executive Strategy & Sustainability at Absa Group

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Absa Champions South Africa’s Investment Potential at London Investment Week

Absa Champions South Africa’s Investment Potential at London Investment Week

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Absa has partnered with Brand South Africa and the South African High Commission in London, on London Investment Week, which brings an exclusive opportunity to engage directly with key decision-makers and industry leaders at the forefront of economic opportunities between South Africa and the UK. This unparalleled platform that brings together influential figures from both South Africa and the United Kingdom, including senior government officials, prominent business leaders and global investors.

London Investment Week aims to attract significant investment into South Africa, showcasing the country's vibrant economic landscape and marking 30 years of democracy while highlighting opportunities in key growth sectors, including small and medium-sized enterprises (SMEs).

Absa is taking a pioneering role in driving national economic priorities, by partnering with the Government of National Unity (GNU) on the investment roadshow. This collaboration, undertaken on behalf of Brand South Africa, the Department of International Relations and Cooperation (Dirco) and other key institutions, underscores Absa’s strategic alignment with government objectives and its commitment to positioning South Africa as a premier destination for investment.

“Despite global and local headwinds, Africa’s economies continue to show remarkable resilience. The IMF and World Bank project steady growth across the continent in the medium term, driven by structural reforms, infrastructure development, and a growing middle class. In South Africa, inflation is expected to continue to decline, easing the cost-of-living pressures on households. At Absa, we are committed to supporting these structural reforms and infrastructure advancements that are key to driving Africa’s economic growth,” said Charles Russon, Interim Group Chief Executive Officer designate at Absa Group. “Our tailored financial solutions and advisory services are designed to help clients and investors navigate emerging trends while contributing to sustainable development across the continent.”

Total trade in goods and services between the UK and South Africa was valued at £10.3 billion in the four quarters to the end of Q1 2024, with South Africa being one of the UK’s 30 largest trading partners, accounting for 0.6% of total UK trade. The potential for growth in sustainable and green investments, particularly in sectors such as renewable energy, infrastructure, and technology, therefore, remains significant.

Absa is uniquely positioned to facilitate this growth, having established its UK office in 2018 with the aim of becoming the preferred corporate and investment banking partner for UK and European investors looking to do business in Africa’s growing economies. The goal is to enable UK businesses to mitigate risks and realise their strategic ambitions in Africa.

“At Absa, our vision is bold and long-term. In the coming years, we aim to deepen our roots in key emerging markets while expanding our global reach,” says Russon. “The message is clear: Africa is open for business. The recent launch of our presence in China marks another milestone in connecting African markets with one of the world’s largest economies. We see immense potential to strengthen ties between Absa and other growing regions, adding to our footprint across the continent, the UK, the US, and Asia.”

As Absa continues to champion South Africa’s investment potential, the bank remains committed to ensuring that the benefits of partnerships created at these events contribute to a more inclusive and sustainable economic landscape in South Africa. By facilitating investment in key growth sectors, Absa is playing a vital role in shaping the future of the country’s economy and supporting its integration into the global market.

Absa Interim CEO designate Charles Russon - London Investment week September 2024

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Absa Paves the Way for South African SMEs at London Investment Week

Absa Paves the Way for South African SMEs at London Investment Week

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In its role as a catalyst for entrepreneurial success and sustainable economic development across the continent, Absa has sponsored 15 local entrepreneurs running small and medium-sized enterprises (SMEs) to participate in the South African Business Showcase in the United Kingdom. The showcase is part of a series of events hosted during the South African Government’s “London Investment Week”, aimed at fostering cross-border collaboration and investment. London Investment Week is an unparalleled platform that brings together influential figures from both South Africa and the United Kingdom, including senior government officials, prominent business leaders and global investors.

These entrepreneurs, selected for their impactful contributions to their industries, innovative business propositions, and their roles as job creators, represent the dynamic potential of South Africa’s SME sector. They will have the once-in-a-lifetime opportunity to pitch for funding and connect with potential partners in the UK, showcasing their businesses to a global audience. Additionally, they will participate in a five-day immersion programme designed to empower them to scale their ventures. This programme includes practical workshops, networking opportunities, site visits, and mentorship from industry experts.

“We recognise that SMEs are not just businesses; they are the dreams, aspirations, and livelihoods of millions of Africans. In line with our efforts to become the Bank of the Entrepreneur, Absa aims to be the partner of choice for SMEs, fostering long-term relationships and becoming their primary financial ally as they scale,” said Ronnie Mbatsane, Managing Executive: SME Business.

The South African Business Showcase, taking place from 30 September to 4 October 2024, is part of Absa’s strategic partnership with various stakeholders to support investment interest in South Africa from the UK. The event aims to enhance collaboration between the South African and UK entrepreneurship ecosystems, focusing on connecting South African SMEs with major businesses and investors, facilitating market access, and exploring funding opportunities. The showcase will be attended by government ministers, selected entrepreneurs, corporate entities, and media representatives.

This initiative is one of several that Absa is supporting during London Investment Week. In collaboration with the Department of International Relations and Cooperation, Brand South Africa, and other key institutions, Absa has partnered on a series of events, including the opening gala dinner, which will be attended by the Deputy President of South Africa, Paul Mashatile, and other ministers. The events are intended to highlight South Africa’s vibrant SME sector and the significant role it plays in the country’s economic growth.

“This initiative forms part of our efforts, in collaboration with the Government of National Unity, to drive investment interest in South Africa from the UK, while marking 30 years of democracy and showcasing SME development in South Africa,” adds Mbatsane. “By showcasing the strength of our SMEs and the entrepreneurial spirit that drives them, we are also promoting a broader message of citizenship and national pride.”

Absa’s commitment to empowering Africa’s tomorrow, together, one story at a time is evident through its support for initiatives that foster growth and financial inclusion for SMEs, especially those led by women and youth entrepreneurs. The bank offers unique solutions designed with these business owners in mind, such as the Absa Emerging Entrepreneur and Absa Business She Thrives programmes. These solutions include a monthly fee waiver for six months on new Business Evolve accounts and access to funding of up to R5 million on an unsecured basis, supported by Absa’s Enterprise Development and Alternate Lending Solutions.

Additionally, Absa is dedicated to advancing financial inclusion by means of its 'Financial Inclusion through Entrepreneurship' initiative, which focuses on empowering small businesses and entrepreneurs. Through comprehensive Enterprise Development initiatives, the bank provides targeted support including access to finance, business development services, and strategic partnerships designed to address the unique challenges faced by black entrepreneurs.

“By providing tailored financial solutions, mentorship, and access to markets, Absa is empowering a new generation of entrepreneurs to overcome barriers and thrive,” concluded Mbatsane. “We believe in the potential of African entrepreneurs to drive economic growth and create sustainable jobs, and we are committed to supporting them every step of the way.”

To find out more about Absa International Banking click here

Media enquiries to:
Daniel Munslow

Managing Executive: Group Communications Absa Group

PRmedia@absa.africa

Ronnie Mbatsane - Managing Executive: SME Relationship Banking

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Absa to Provide HSBC Global Equities and Securities Finance Clients with Access to SA Market

Absa to Provide HSBC Global Equities and Securities Finance Clients with Access to SA Market

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Absa has come to an agreement with HSBC for Absa to provide HSBC’s global equities and securities finance clients with access to the South African market. In terms of the agreement, Absa will provide HSBC and its clients with access to a full suite of equities trading and prime brokerage products in South Africa.

The agreement aligns with Absa’s growth ambitions, which includes serving corporate and investment banking clients with access to equities markets and product, and underscores Absa’s position as a leading equities franchise in South Africa, with a market-leading equities trading and finance platform and prime brokerage capabilities to deliver on clients’ needs and expectations.

“The agreement is an endorsement of our strategy, which emphasises providing our clients with best-in-class equities product and equity market access,” commented Quintus Kilbourn, Head of Equities at Absa Corporate and Investment Banking. “It is also recognition of the depth of Absa’s client base and equities product,” he continued.

The agreement with HSBC came into effect on 26 September 2024.

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Winelands Welcomes Fan Friendly 2025 Absa Cape Epic Route

Winelands Welcomes Fan Friendly 2025 Absa Cape Epic Route

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Legend awaits in the next chapter of the Absa Cape Epic saga. From the Prologue on Meerendal Wine Estate to the Grand Finale’s finish line at Lourensford Wine Estate, the 2025 route provides the terrain for each participant to add to the lore of the world’s premier mountain bike stage race. For over 1200 amateur riders, it’s a life-affirming, bucket-list goal. For the professionals, it defines seasons and careers. Each edition of the Absa Cape Epic is meticulously designed months in advance, offering a route that challenges, rewards, and creates unforgettable moments, while setting the stage for drama and captivating viewing from around the globe.

Daniel Munslow, Absa Managing Executive: Group Communications says, “We remain committed to our sponsorship of this premier event, which resonates deeply with our brand ethos that your story matters. Over the years, we have witnessed the incredible evolution, growth, and success of the Absa Cape Epic, and we are proud to be associated with such an iconic event. The enduring partnership between Absa and the Cape Epic is a testament to our shared commitment to elevating world-class sports while leveraging our potential to be a force for good. This collaboration delivers real impact, from the riders to corporate citizenship initiatives, including community development, education, and women empowerment.”

The 2025 race spans 608 kilometres with 16,500 meters of climbing—a tale waiting to be written across Durbanville, Paarl, Stellenbosch, and Somerset West. It begins with a familiar Prologue at Meerendal Wine Estate, setting the scene with sharp climbs and flowing singletracks before delving into the core chapters of this epic race.

Stage 1 deviates from tradition by starting and finishing at Meerendal, after a Prologue at the famous mountain biking venue. The 96-kilometer marathon through Durbanville's wine farms features the best of the Tygerberg trail network and offers fans ample opportunity to see their heroes in the flesh. It is the first big test and one which should reveal who the week’s main protagonists will be.

The narrative then takes a twist with an early time trial, a point-to-point test from Meerendal to Fairview in Paarl, setting the scene for significant gains but also potential losses.

Two new stages in Paarl around the famous granite outcrops, showcasing fresh territory and previously untapped trails. “The Drakenstein Municipality has always been welcoming, and for next year we devised a course that will not simply touch on the riding there, but truly showcase it,” Route Director, Hendrico Burger revealed.

The Queen Stage on Friday takes the teams from Fairview to Lourensford Wine Estate in Somerset West. It not only challenges riders with just over 103 kilometres of racing, but also features 3,050 metres of climbing and numerous opportunities for trail-side views to watch the teams fly by.

The stage is set to be a thrilling crescendo over the final weekend at Lourensford Wine Estate, where the celebrated trails and exquisite scenery of the neighbouring farms provide a fitting backdrop for the climax of the event.

Stage 6 mixes some of the legendary Lourensford sections with vast natural beauty, offering no relief after the previous day’s efforts. Singletracks through eucalyptus forests, dual tracks alongside orchards and vineyards, and mountainous ascents are all woven together in this penultimate stage.

Stage 7, the Grand Finale, will bring the 2025 chapter to its emotional close. As riders circle the Helderberg Dome, the terrain is poised for a final act of triumph for those who wish to write their name in the book of legends.2