Absa Group has implemented a purpose-led strategy with an enabling capability of playing a shaping role in society. Our ambition is to become a leading, purpose orientated, African bank that is systemically rooted in the countries that we serve and that recognises that our own sustainability is directly linked to the sustainability of the communities in which we operate.
This philosophy informs our business strategy and our approach to corporate citizenship. Each area of our business actively participates in, and contributes to the implementation and delivery of our strategy.
Our long-term aim is to generate substantial social impact through our core business functions. This will enable us to significantly impact some of the key challenges facing society.
We have identified 3 strategic areas where we believe we can make a real difference to address these challenges.
Education and skill
This pillar refers to upskilling, capacity building and providing educational financial assistance to the communities in which we conduct our business. While there is a strong focus on students, interventions are not limited to schools or youth but, more generally, seek to enhance the knowledge and capacity among constituencies such as the youth, entrepreneurs, government employees and governance bodies.
Absa Group’s ED interventions enable a strong and diverse small business sector by nurturing aspirant entrepreneurs and helping existing small businesses to grow. In doing so, we catalyse self-and-direct employment while driving sustained growth in our own business.
We do this by providing customer-centric banking solutions that enable and improve the productivity of small businesses, as well as access to funding and credit to support the establishment and growth of small business.
Absa Group is committed to improving financial inclusion on the continent, yet recognises there is no single solution to tackle both supply and demand side issues that are needed. Absa Group aims to provide the necessary tools and services to enable better and sustainable financial inclusion.
Some work has already been done through traditional and non-traditional channels which provide access to the unbanked and underbanked segments, but there is a need to continue exploring and developing solutions that are scalable in meeting the needs of the underserved.