Absa’s commitment to women’s empowerment extends far beyond the campaign. In 2023, the bank strategically invested R600m in employee learning and development, resulting in an impressive retention rate of 94% among high performers. This investment is complemented by a strong focus on inclusivity, with 65% of new senior leadership hires being women, and over 63% of the first half's training budget of R193.5m directed toward women. These efforts have touched the lives of 10,000 women through various training programs.
Absa is a leader in championing women in the workplace across Africa and has been ranked among the top 105 companies globally, and first in Africa, for promoting gender equality and fostering an inclusive work environment, as highlighted by Forbes magazine.
"Empowering women to have a voice is not just a priority; it's the cornerstone of our strategy at Absa," stated Candice Thurston, managing executive for brand and marketing. Through initiatives like 'In My Story,' Absa is igniting a cultural shift that recognises the vital roles women play across all sectors. The bank’s commitment to gender equality was further demonstrated through a series of impactful events celebrating women’s aspirations. These included personal branding masterclasses and the She Thrives entrepreneurship seminars, conducted in partnership with the Frankfurt Business Management school. With these initiatives Absa has invested R9,4bn in procurement spend in woman-owned businesses. This does not only underscore the bank’s dedication to entrepreneurship but also promotes women's involvement in various fields, particularly in technology and coding.
Absa’s commitment to empowering women extends through strategic partnerships, notably with the She’s Next initiative and Girl Code. The She’s Next programme, powered by Visa and Absa, aims to support women-owned small businesses by providing R1m in grant funding, comprehensive training, and mentorship. This initiative fosters meaningful societal progress for female entrepreneurs.
Simultaneously, Girl Code is dedicated to empowering young girls and women by introducing them to technology and coding, thereby addressing the low representation of women in tech roles in South Africa. Both initiatives are designed to create an inclusive environment for women in business and actively tackle challenges such as the gender pay gap. By enhancing skills and opportunities for women, Absa strives to contribute to a more equitable workplace for all.
The In My Story initiative also highlights Absa’s sponsorship of women's sports, featuring initiatives like the Cape Epic She Untamed Mountain Bike Mentorship and the Sunshine Ladies Golf Tour. These partnerships align with the bank’s Woman in Sport initiative, aiming to level the playing field in sports and celebrate emerging female role models.
“Empowering Africa’s tomorrow, together, one story at a time, is the essence of Absa’s purpose,” Thurston concluded. "Hearing and investing in woman’s stories drives our strategy of diversity, equality and inclusivity, allowing us to witness firsthand the positive impact of our involvement and investment in women."
