Black Economic Empowerment at Absa
Absa’s Black Economic Empowerment (BEE) purpose is to contribute meaningfully to the socio-economic transformation of our society through the black economic empowerment process, and thus sustain future stability, growth and profitability.
A culture of growth
Absa’s growth is partly linked to our ability to identify and address the requirements of the emerging market, while growing shareholder value.
Through working with the Financial Sector Charter (FSC) and the Codes, we aim to achieve and exceed where possible:
- The South African demographic representation of society in our customer base
- The statutory targets at all levels of employed personnel
- A culture, underpinned by the Absa values, in which all employees can engage in and feel a part of
- Discernable participation in support of the national priorities of the South African Government
When Absa’s transformation strategy was developed we were mindful to approach it in a tactful and non-offensive manner. We took into consideration the business realities and required our employees to embrace transformation and include it within their work space.
We aim to grow and develop our diverse pool of talented employees through transformation and employment equity
Preferential procurement is central to the development of economic transformation and Broad-Based Black Economic Empowerment (BBBEE)
With 12 Enterprise Development Centres throughout the country, Absa aims to develop and foster black small- to medium-sized enterprise development
Growth within the South African economy depends on the increased meaningful participation of previously disadvantaged individuals
At the forefront of Black Economic Empowerment (BEE) financing, the Absa Group has created various transaction financing initiatives to support BEE projects
We aim to increase access to financial services through the empowerment of existing and future customers who aim to achieve their dreams and ambitions
We provide various training initiatives around consumer education; including the innovative Teach Children to Save campaign
Our Corporate Social Investment is aimed at facilitating the creation of platforms where we can contribute to nation building through social upliftment