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Absa funds building rentals to support South African Depression and Anxiety Group (SADAG) for three years

Absa funds building rentals to support South African Depression and Anxiety Group (SADAG) for three years

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In a significant move to support mental health initiatives in South Africa, Absa is proud to announce its funding of rentals for a building for the South African Depression and Anxiety Group (SADAG). This three-year funding will provide SADAG with essential space for their 24-hour call centre and office operations.

SADAG, established 30 years ago, serves as a vital support network for the thousands of South Africans living with mental health issues nationwide. The organisation manages a 30-line counselling-and-referral call centre and operates over 170 free Support Groups across the country. Currently, it is estimated that 1 in 3 people in South Africa will experience a mental illness at some point in their lifetime.

With the building sponsored by Absa, SADAG will be better equipped to manage the over a million calls it receives annually from individuals seeking help with depression, anxiety and suicide. The building will also train volunteer counsellors and support groups, and operates the country’s only suicide crisis help line.

KG Bako, Managing Executive: Talent Management & Transitions says, “In the spirit of Mandela Month, we are honoured to work with the South African Depression and Anxiety Group and support their efforts to assist South Africans suffering from depression and anxiety. We take matters of mental health seriously within our organisation. We recognise the profound impact that mental health has on our employees' wellbeing and productivity. By supporting initiatives like SADAG, we reaffirm our commitment to fostering a healthy, supportive, inclusive, and safe work environment for all.”

“Mental health challenges and burnout can result from rigorous deadlines, heavy workloads, long hours and a lack of psychological safety, as well as job and financial insecurity. Businesses must address mental health issues in the workplace for the sake of both the workers and the organisation’s bottom line. When employees faced with mental health challenges are not supported, it will adversely impact their engagement and productivity levels,” Bako added.

According to the South African Depression and Anxiety Group (SADAG), mental health issues affect 1 in 3 South Africans at some point in their lives. Alarmingly, only 1 in 10 South Africans with a mental illness receive the treatment they need, leaving 9 out of 10 without access to essential mental health care. The majority of calls received by SADAG come from women and youth aged 18 to 35 years, highlighting a critical gap in mental health support for these vulnerable groups.

Roshni Parbhoo-Seetha, Project Manager at SADAG, expressed gratitude: "We are humbled by the generous funding of the building, which will allow us to help a million South Africans suffering from mental health challenges. In recognition of this, we will honour Absa’s generosity with a plaque in our office space as a token of appreciation for their continued support."

“Depression and anxiety impact us all. We encourage South Africans to use the anonymous, free resources available and seek help. The Depression and Anxiety Helpline can be reached at 0800 70 80 90, and the Cipla Mental Health WhatsApp chatline is available from 8 AM to 5 PM at 076 882 277. Don't hesitate to reach out for the support you need”, Parbhoo-Seetha ended.

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SymphonyAI and Absa Group Recognised as ICA Compliance Awards “2024 Technology Partner of the Year” for predictive and generative AI SaaS innovations

SymphonyAI and Absa Group Recognised as ICA Compliance Awards “2024 Technology Partner of the Year” for predictive and generative AI SaaS innovations

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Partnership recognised by International Compliance Association for its collaborative work in AI-driven risk management that reduced false positive alerts by 77% and accelerated the new risk identification hit rate by 10.5%

SymphonyAI, a leader in predictive and generative AI SaaS products for the enterprise, was named “2024 Technology Partner of the Year” at the recent ICA Compliance Awards 2024 Europe for its partnership with South African-based pan-African bank Absa Group Limited to combat financial crime.

SymphonyAI and Absa were selected from among the finalists for using AI to improve transaction monitoring processes, reduce false positives, and discover hidden risk. The ICA Compliance Awards celebrate the outstanding achievements, collaboration, and innovation of compliance and financial crime prevention teams.

The award submission from the two companies highlighted key goals for the project:

  • Improve alert quality – reduction of false positive alerts, which would be measured against current alerts, while continuing to identify all known suspicious activity reports (SARs).
  • Improve new risk detection – using AI to detect new risks faster than existing transaction monitoring rules.
  • Segmentation/transaction monitoring system (TMS) tuning – options for tuning transaction monitoring rules based on SymphonyAI Sensa customer segmentation.

The joint project team used masked data from one country covering two years. The Absa-SymphonyAI project then tested the software’s capabilities further by including data from another country.

Results far exceeded expectations with false positive alerts reduced by 77% while also capturing all suspicious activity reports (SARs) as found by Absa using its current transaction monitoring system.

“The outcomes of the POC in terms of alert reduction were well in excess of the expected thresholds, and as a result, Absa has decided to roll out the SymphonyAI model to three further countries across Africa,” said Absa Managing Executive, Strategic Change for Group Compliance Robert Benvenuti. “This shows the impact and importance that we feel the project has had, and we hope to improve upon our partnership together over the coming years. As regulations increase, risk management has to keep up and we feel that working with SymphonyAI has enabled us to continuously refine our approach to a vital aspect of financial management, improving our commitment to our customers by enhancing our productivity in regard to risk alerts.”

By sampling six months of data, SymphonyAI generated new risk models to improve risk detection. Absa confirmed new risks were identified more quickly versus a slower manual adjustment of rules or manual reporting methods. Alongside this, the new risk identification hit rate of 10.5% was significantly more effective than using rules alone.

“The teamwork between a forward-looking bank like Absa and an enterprise AI innovator like SymphonyAI is creating exciting real-world transformation in pioneering a safer financial services ecosystem,” said Mike Foster, president of SymphonyAI’s financial services division. “We are extremely proud of this recognition with Absa in earning the 2024 ICA Compliance Technology Partner of the Year Award.”

“I’d like to extend my heartfelt congratulations to all the finalists of the ICA Compliance Awards 2024,” said ICA President Pekka Dare. “Your outstanding contributions and unwavering dedication to excellence in the compliance and financial crime prevention industry highlight your professionalism and expertise. It is through your innovative approaches that we continue to push the boundaries of what is possible.”

SymphonyAI’s enterprise SaaS products, which provide unparalleled ability to tackle some of the industry’s toughest scenarios, include enterprise grade AI-based anti-money laundering (AML) transaction monitoring and sanctions screening for dynamic risk assessment, and intelligence-led know your customer and customer due diligence, transaction monitoring, and sanctions screening products for dynamic risk assessment; together with powerful AI augmentions for AML and sanctions that enrich existing investments – reducing false positives by up to 80% while continuing to spot 100% of true positives.

The innovative AI-based Sensa Investigation Hub is a complete case management center that acts as a financial crime investigation force multiplier for a unified view and management of enterprise-wide risk and compliance. SymphonyAI’s AI payment fraud prevention significantly reduces fraud losses with real-time fraud detection analytics technology.

Please click here to access the full IAC Awards Certificate

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Absa Group Concludes Further Agreements with MIGA; Advances Pan African Climate Finance

Absa Group Concludes Further Agreements with MIGA; Advances Pan African Climate Finance

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Absa Group Ltd, one of the largest diversified financial service providers in Africa, has concluded further agreements with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, freeing up additional financial capacity for investments in Pan-African climate finance projects.

In 2019, MIGA issued capital guarantees of US$497 million to Absa in support of managing certain risks in countries including Ghana, Kenya, Mauritius, Mozambique, Seychelles, Uganda and Zambia. Absa was the first African banking group to enter into this type of guarantee transaction with MIGA. The guarantees help Absa to provide additional financing to its subsidiaries in the participating markets, supporting lending and growth.

Absa and MIGA signed an agreement on 24 June 2024 to expand on the initial transactions, increasing  additional cash-reserves cover to approximately US$1 billion in the participating markets.

“The expanded agreement builds on a market-leading transaction between Absa and MIGA. It strengthens our partnership and advances our common goal of financing climate projects across Africa that enhance economic activity as well as sustainability,” said Deon Raju, Absa Group Finance Director.

“MIGA is excited to expand our partnership with Absa to facilitate greater investment in climate projects across Africa,” said Hiroshi Matano, MIGA Executive Vice President. “The agreement underscores our commitment to supporting sustainable economic growth in the region during these turbulent global crises.”

As part of the agreement, Absa committed to increasing climate finance business growth in the markets covered in the (original and expanded) agreements. In addition, Absa agreed to not fund any additional coal projects with a tenor of three years or more in the participating markets and to reduce coal exposure in these markets to zero by 2030.

The commitments are aligned to Absa’s strategic priority of being an active force for good in everything we do, which supports a Just Transition in Africa and commits the Group to reducing fossil fuel financing.

The additional guarantees are expected to result in an incremental reduction of approximately R11.5 billion in risk-weighted assets for Absa Group. A reduction in risk weighted assets reflects lower risk, which improves the Group’s risk profile and is equivalent to securing additional capital resources.

Absa’s intention is to deploy the additional risk-weighted asset capacity generated through the agreement for climate finance over the duration of the guarantees.

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Absa presents ‘The People’s Biskop’, powered by Umphakathi Artists to celebrate Youth Month

Absa presents ‘The People’s Biskop’, powered by Umphakathi Artists to celebrate Youth Month

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In celebration of Youth Month, Absa, in collaboration with Umphakathi Artists, is excited to announce a public special cinema event to honour the legacy of the Class of 1976. This commemorative screening will be held ahead of Youth Day, on June 15th, at the YMCA in Orlando East, Soweto. The programme includes free screenings of local films in underprivileged communities, often produced by young filmmakers who form part of ‘The Biskop Exhibition’.

Absa is celebrating the unique stories of the next generation of creators and innovators through entrepreneurship and financial literacy. Through collaboration with other creative arts organisations that share a similar vision, the bank aims to promote unity in the creative arts industry, subsequently creating spaces and opportunities to empower and develop young people’s entrepreneurial and financial management skills.

Candice Thurston, Absa Group Managing Executive for Brand and Marketing, says, “As we move towards a more human-centred approach to banking, initiatives like these are the ultimate embodiment of our commitment to making a meaningful contribution. We look forward to playing our part in bringing clients and communities together as we recognise and celebrate the talent, dedication, and skill of our existing and future clients, and contribute to a more balanced and equitable landscape within the arts and entertainment industry. We feel partnering with this Biskop/short film screening event in Soweto does this.”

“We strive to create holistic solutions for our customers’ unique needs, particularly young people, in preparation for their financial future. To this end, our comprehensive benefits for young people include our Absa Student Account which offers unlimited free day-to-day banking including card swipes and till-point cash withdrawals, zero monthly account fees, a free monthly data allocation, and lifestyle benefits such as meal and travel vouchers.” Thurston added.

In line with this vision, Absa is kicking off a month-long corporate citizenship programme aimed at engaging the youth to empower and develop their entrepreneurial and financial management skills. On Saturday, June 15th, Absa will partner with young filmmaker Ntokozo Mlaba, the winner of the Young Filmmaker Award at the 2024 Joburg Film Festival, who received financial sponsorship from Absa as part of his next chapter in storytelling.

Ntokozo Mlaba will host a series of free community film screenings across Soweto to celebrate Youth Day and the contributions of youth to South Africa's freedom, simultaneously screening 16 films in multiple townships within Soweto as a commemoration of the Class of 1976.

The series aims to build community through art, using film to foster positive change in society. Communities in Soweto can expect popcorn, drinks, and cinema-style seating for the screening of two significant films that capture the essence of Soweto's vibrant culture and historical resilience. Community members will first enjoy the touching short film, Jemima and Johnny by South African filmmaker Lionel Ngakane, followed by the critically acclaimed Mapantsula, a movie directed by Oliver Schmitz and written by Schmitz and Thomas Mogotlane, filmed deep in the heart of Soweto. Both films offer a captivating glimpse into Soweto's unique cultural landscape, showcasing the talent and creativity of local filmmakers.

In addition to the film screening, this series will pay tribute to the bravery and legacy of the young people who shaped 1976 and beyond. It will serve as a reminder of the enduring spirit and unity of the Soweto community, encouraging reflection and appreciation through the art of cinema. The evening will foster a warm and inclusive atmosphere, inviting guests to connect with one another and celebrate the shared love of local cinema and cultural heritage. This gathering is a chance to engage with fellow community members in a setting that honours history and inspires future generations.

Absa’s new signature or strapline 'Your Story Matters', signals a shift to meeting customers with empathy during every stage of their journey. This promise reflects the bank’s commitment to delivering an experience that is seamless, intuitive, and anticipatory. At Absa, every story holds significance, regardless of its scale. That's why the bank is focusing its solutions and services around the needs of people, the planet, businesses, and society.

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Regulatory approvals secured for Absa to acquire the domestic Wealth and Personal Banking and Business Banking business of HSBC Mauritius.

Regulatory approvals secured for Absa to acquire the domestic Wealth and Personal Banking and Business Banking business of HSBC Mauritius.

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Absa Group is pleased to announce that it has obtained regulatory approval from key regulatory authorities to acquire the domestic Wealth and Personal Banking and Business Banking businesses of the Hongkong and Shanghai Banking Corporation Limited (HSBC), Mauritius branch. The transaction includes the assets and liabilities of approximately 38,000 retail customers and about 400 small and medium enterprises from Business Banking, along with relevant employees.

This transaction is aligned to Absa’s strategy to be a diversified franchise and its ambition to being a leading Pan African bank.

With a strong emphasis on transparency and diligence, respective project teams from HSBC Mauritius and Absa Mauritius are working in close collaboration to ensure a seamless onboarding for the new customers and colleagues alike. The official transition is planned to begin in the next few weeks.

Ravin Dajee

Commenting on this new milestone, Ravin Dajee, Managing Director of Absa Mauritius states: “Now that the regulatory approvals have been obtained, this transaction enters a new stage. We will continue collaborate with HSBC to ensure a seamless transition. Regular communication has been planned throughout the journey to provide timely information and support the transition. We look forward to onboarding both the new customers and colleagues.”

This transaction is in line with Absa’s growth ambition and reinforces its commitment to expand and continue to be an influential player in the banking sector in Africa. The transaction provides Absa the opportunity to further expand its Retail and Business Banking division in Mauritius, leveraging on existing resources, expertise and infrastructure such as its innovative digital solutions.

HSBC will continue to support large and mid-market domestic corporates and international subsidiaries of corporates headquartered outside of Mauritius, with a focus on cross-border trade and/or international business. Markets and Securities Services, multi-currency corporate lending, foreign exchange, trade finance, global custody and sustainable finance will continue to be offered to clients.

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Absa partners with the Karkloof Country Club in a new three-year agreement to support the community

Absa partners with the Karkloof Country Club in a new three-year agreement to support the community

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Following the conclusion of a new three-year agreement with Absa, the Karkloof Country Club will now be known as the Absa Karkloof Country Club.

“Prior to formalising our partnership agreement, Absa has proudly leveraged the outstanding amenities and trails of Karkloof Country Club since 2022, serving as the Team Absa Training Camp for the annual Absa Cape Epic mountain-bike race”, says Daniel Munslow, Managing Executive of Group Communications at Absa. “This partnership has been growing from strength to strength and the new three-year agreement affords us the opportunity to further uplift the communities in which we operate. Our cycling events, such as the Team Absa Training Camp, are more than sporting calendar days. It’s an opportunity to support the local community, business owners and farmers in the region.”

The Absa Karkloof Country Club, situated in the KZN Midlands, offers over 300 kilometres of mountain-bike trails that have, in recent years, twice been voted among the best trails in South Africa by Tread Magazine. The trail network offers something special for everybody – from scenic, flowing single tracks and highly technical trails, to a quiet, level trail where visitors can walk to the magnificent Karkloof Falls.

Absa has also committed its support to surrounding communities. “During the 2024 training camp activities, Absa provided upgrades and refurbishments at Yarrow Intermediate School,” adds Munslow. “This is the same school where Absa donated a stationary Absa Bus, now transformed into a library capable of simultaneously accommodating up to 60 children from Grade R to Grade 7. We pride ourselves on empowering Africa’s tomorrow, together … one story at a time by contributing to the success of our country's literacy rate.”

Andrew Nicholson, Chairman of the Absa Karkloof Country Club, says, “We are extremely excited about the new partnership, which will allow us to continue to expand the incredible work we already do in the community. The club now employs 18 local full-time staff members, as well as two teachers at the Early Childhood Development Centre and a local school. Our schools programme has expanded to provide additional support to the Yarrow School, in support of Absa’s efforts. Several development plans are on the cards for this year at the club and this process has been significantly enhanced by Absa’s partnership.”

The Absa Karkloof Country Club will again host the Sappi Karkloof Classic on 25 and 26 May 2024, marking the 30th anniversary of the event. For the fourth time in 10 years, the event will host Cycling SA Marathon champions, showing ongoing commitment to the region and the trails it offers. Members of the Absa Karkloof Country Club will enjoy free entry to the Sappi Karkloof Classic.

“We look forward to the next three years, as our new partnership with Absa is going to change people’s lives in our community,” concludes Nicholson.

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Absa Group’s eKhaya Colleague Share Scheme scoops Top Champion for Women Award

Absa Group’s eKhaya Colleague Share Scheme scoops Top Champion for Women Award

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Absa Group is delighted to announce that the eKhaya Colleague Share Scheme has once again been celebrated, with the Group winning the Top Champion for Women Award at the inaugural Worker Share Ownership Conference.

Hosted by the Department of Trade, Industry and Competition last week, the conference focused on promoting economic inclusion through Employee Share Ownership Programmes (ESOPs). It brought together ESOP trustees, employee representatives, business representatives, labour leaders, government officials, legal experts, and finance specialists to share insights and best practice.

The award ceremony sought to honour those employers that have notably empowered their employees through innovative and effective ESOP structures. Absa Group was recognised for empowering the highest percentage of women, with 63.1% of the 26 400 staff beneficiaries being female.

Absa’s eKhaya scheme, implemented in September last year, allocated shares to the value of R11.2 billion at the time, including a 4% evergreen Corporate Social Investment Trust and a 3% vesting staff element.

“We are proud to have been honoured once again for our eKhaya Colleague Share Scheme. This transaction demonstrates our commitment to fostering financial inclusion in our communities in keeping with our purpose of empowering Africa’s tomorrow, together... one story at a time,” said Absa Group CEO Arrie Rautenbach.

Rautenbach said women make up the majority of Absa’s employee component and through this transaction and other transformation programmes, the Group has recognises its role as an active force for good, contributing meaningfully to their families, communities and the economy as a whole. “This exemplifies our role as a driver for positive change and sustainable development,” he concluded.

 

Image supplied by Department of Trade, Industry and Competition

Absa Group representatives with President Cyril Ramaphosa, Minister in the Presidency for Women, Youth and People with Disabilities of South Africa Dr Nkosazana Dlamini-Zuma and Minister of Trade, Industry and Competition Ebrahim Patel at the Worker Share Ownership Conference Awards. Absa Group won the Top Champion for Women Award, with the accolade being accepted on behalf of the Group by Absa leaders CEO of Relationship Banking Faisal Mkhize (back row, third from left), Group Chief Human Capital Officer Jeanett Modise (front row, fifth from left) and Group Head of Liquidity Management Palesa Mkhize (front row, seventh from left).

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Absa Group Limited Announces Changes to its Executive Committee

Absa Group Limited Announces Changes to its Executive Committee

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As part of a strategic plan to drive growth and reinforce our position in the market, Absa Group Limited (AGL) today announced changes to the group’s Executive Committee, as outlined below.

The changes are aimed at accelerating the execution of the Group’s strategy to create superior commercial performance and enhance market competitiveness. They are also in line with Absa’s transformation, diversity and inclusion agenda.

GROUP

Group Financial Director

Deon Raju (currently Group Chief Risk Officer and former Group Treasurer) will be appointed the new Group Financial Director with immediate effect. Deon will also join the Absa Group Limited and Absa Bank Limited Boards as an executive director. He is a chartered accountant (CA)SA and Chartered Financial Analyst (CFA) and brings with him over 20 years of experience and expertise from both the finance and risk functions at Absa.

We extend our gratitude to Chris Snyman, who played a key transitional role as Interim Finance Director over the last few months.

Interim Group Chief Risk Officer

Rajal Vaidya (currently Chief Risk Officer at Absa Corporate and Investment Banking) will be appointed as Interim Group Chief Risk Officer.

Everyday Banking Business Unit

Christine Wu will replace Cowyk Fox as Chief Executive: Everyday Banking, also with immediate effect. Christine joined Absa in 2019 as an Executive at Absa Retail and Business Banking. In 2022, she transitioned to Everyday Banking as a Managing Executive: Consumer Product, where she has been responsible for the consumer banking segment. She had end-to-end accountability for core product performance and the transformation of Absa into a digital and data first business.

We would like to thank Cowyk Fox for his immense contribution to our Group. After many years of dedicated service as an integral leader in our business, he has decided to explore new horizons outside the organisation.

“We congratulate our colleagues on their appointments and welcome the new Exco members. It is pleasing to note that the appointments announced today are internal colleagues who have proven track records of delivering results in their respective fields and will contribute further to driving growth and empowering Africa’s tomorrow,” said Absa Group CEO, Arrie Rautenbach.

Deon Raju

Group Financial Director

Rajal Vaidya

Interim Group Chief Risk Officer

Christine Wu

Chief Executive: Everyday Banking

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Absa demonstrates its commitment to diversity and inclusion as it joins the Sunshine Ladies Tour

Absa demonstrates its commitment to diversity and inclusion as it joins the Sunshine Ladies Tour

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Banking giant puts its weight behind the Sunshine Ladies Tour schedule with new R1.2 million tournament

The Sunshine Ladies Tour has announced another major sponsor as Absa joins the 2024 schedule. The new Absa Ladies Invitational will be hosted at Serengeti Estates in Gauteng from 4 to 6 April.

The announcement follows hot on the heels of the Pan-African banking giant unveiling its fresh brand positioning with the tagline, Your story matters. With this sponsorship, Absa is writing an exciting new chapter, underscoring its commitment to diversity and inclusion, not only in the boardroom, but also in the world of sport and within the communities it serves.

With the 2024 Sunshine Ladies Tour (SLT) already keeping golf enthusiasts on the edge of their seats, the Absa Ladies Invitational with prize money of R1.2 million forms part of a strong schedule of eight tournaments, two of which are co-sanctioned with the Ladies European Tour (LET).

“As part of our efforts to be an active force for good in everything we do, we are proud to be part of the Sunshine Ladies Tour and to be fostering diversity and inclusivity in the world of golf,” said Sanah Gumede, Managing Executive for Strategy and Customer Value Management at Absa Relationship Banking. “Although the journey to narrow the gender pay gap is ongoing, Absa Relationship Banking takes pride in actively fostering greater equity through this sponsorship, while also creating more playing opportunities.”

Absa’s sponsorship will also encompass a golf development programme targeted at young women and will include both professional and amateur players.

“As the proud sponsor of the Absa Ladies Invitational, we also look forward to playing our part in bringing clients and communities together as we recognize and celebrate the talent, dedication and skill of women golfers, and contribute to a more balanced and equitable landscape within the sport,” added Gumede.

The Absa Ladies Invitational has already attracted high profile entries, including 15-time winner Lee-Anne Pace, six-time winner Stacy Bregman and three-time winner Casandra Alexander. Previous winners Nadia van der Westhuizen and Anne-Lise Caudal have also confirmed their participation. The 2024 Sunshine Ladies Tour will see the country’s elite women’s professional golfers competing for total prize money of almost R20 million and with live coverage on SuperSport in what is another significant statement regarding the growth of women’s sport in South Africa.

“Absa is immensely proud to be supporting the Sunshine Ladies Tour. Breaking barriers and empowering women in society, sports and the workplace are ingrained in the Absa DNA – and there is great congruence with this, and the work we have already undertaken to promote women’s participation in the renowned Absa Cape Epic through the enduring #SheUntamed initiative. As Absa moves towards a more human-centered approach to banking, initiatives like this are the ultimate embodiment of our commitment to making a meaningful contribution,” says Sydney Nhlanhla Mbhele, Absa’s Group Chief Marketing and Corporate Affairs Officer.

Thomas Abt, Commissioner of the Sunshine Tour and speaking on behalf of the Sunshine Ladies Tour, said: “Together with the Absa Group we now have an extremely competitive Sunshine Ladies Tour that will showcase not only the growing strength of Southern African women’s golf, but also the growing value some of the biggest brands see in women’s golf.”

2024 Sunshine Ladies Tour Schedule

  • 16-18 February: Dimension Data Ladies Pro-Am – Fancourt.
  • 21-23 February: SuperSport Ladies Challenge presented by Sun International – Lost City Golf Course.
  • 6-8 March: Fidelity ADT Ladies Challenge – Blue Valley Golf Estate.
  • 13-15 March: Cape Town Ladies Open – Royal Cape Golf Club.
  • 4-6 April: Absa Ladies Invitational – Serengeti Golf and Wildlife Estate.
  • 10-12 April: Jabra Ladies Classic – Glendower Golf Club.
  • 18-21 April: Joburg Ladies Open – Modderfontein Golf Club (co-sanctioned with the Ladies European Tour)         .
  • 25-28 April: Investec South African Women’s Open – Erinvale Golf Estate (co-sanctioned with the Ladies European Tour).
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Absa group elevates South Africa’s premier golf and lifestyle event as new co-title sponsor of the SuperSport Shootout

Absa group elevates South Africa’s premier golf and lifestyle event as new co-title sponsor of the SuperSport Shootout

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Absa Group is proud to announce its partnership with SuperSport as the new co-title sponsor of South Africa’s premier golf and lifestyle event, the Absa SuperSport Shootout. This sought-after tournament, renowned for its blend of competitive golf and philanthropy, will take place from 31 May to 2 June at the breath-taking Zimbali Estate in Durban.

The SuperSport Shootout has firmly established itself as a highlight on South Africa’s sporting and charitable calendars. Now, with Absa Group’s support, the event is poised to reach new heights of excellence and impact.

Sydney Mbhele, Group Chief Marketing and Corporate Affairs Officer at Absa says, “We are thrilled to be the new co-title sponsor of South Africa’s premier golfing and lifestyle event. Beyond showcasing fantastic golf, the tournament embodies our commitment to making a meaningful difference in communities. Through our “Possibilities Unearthed” initiative, we’ve already begun creating sustainable vegetable gardens at schools in the areas we serve. Our involvement in the SuperSport Shootout allows us to expand this impactful work, leaving a lasting legacy of positive change. We are also a sponsor of the 2024 Sunshine Ladies Tour, a premier professional golf tour for women in South Africa. This ground-breaking partnership underscores Absa’s commitment to fostering the development of women in sport and marks a significant milestone as the company delves into the realm of professional golf.”

“SuperSport Chief Executive Officer, Rendani Ramovha, said, “The tournament is one of those golfing and lifestyle events that bring people from all manner of industries together, whether serious pros or keen amateurs. The Shootout is about partnerships, finding commonality and building camaraderie on the golf course.”

“SuperSport has been a proud partner of the Shootout since its founding – a tournament that has grown to become one of the most eagerly anticipated golf events on Your World of Champions.”

“Now, we are thrilled to welcome Absa, one of the biggest banks and brands in Africa, as a partner to form the Absa SuperSport Shootout.

Ramovha adds, “The event also brings leaders from different fields together in a fun, exciting and interactive golfing spectacle. It is unique in that avid golfers can spend time with likeminded people as well as share the course with pioneers from other respects. There is truly no event like it in South Africa.”

The Absa SuperSport Shootout isn’t just about golf; it’s a platform for giving back. With a long-standing tradition of supporting charitable causes, the event brings together captains of industry, government representatives, sporting icons and corporate sponsors to raise funds for worthy initiatives. During the involvement with the tournament, Absa Group spearheaded the establishment of three sustainable vegetable gardens in Durban, Franschhoek and George. Building on this success, Absa commits to further expanding its community initiatives in 2024.

Since its establishment in 2003, the SuperSport Shootout has raised over R31 million with over R1.6 million donated to various charities, including LIV Village and The Gift of the Givers in 2023.

The 21st edition of the Absa SuperSport Shootout promises an exciting line-up of participants, including some of South Africa’s most illustrious sporting figures. Cricket fans can look forward to seeing Temba Bavuma, South Africa’s cricket captain, in action alongside rugby legends Schalk Brits and Bryan Habana. Adding to the star-studded roster is former Bafana Bafana star Shaun Bartlett. Additionally, government officials and corporate sponsors will join the fray, ensuring a dynamic blend of competition and camaraderie.

While the event is not open for public viewing, fans can catch all the action from the comfort of their homes through televised coverage. Stay tuned for updates and highlights as South Africa’s premier golfing event unfolds.

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