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Absa Bank Limited (Absa Bank) is a wholly owned subsidiary of Barclays Africa Group Limited, which is listed on the Johannesburg Stock Exchange and is one of Africa’s largest financial services groups. Absa offers a range of retail, business, corporate and investment banking and wealth management products and services.
As an organisation, in 2016, Absa launched its Shared Growth strategy. Shared Growth is a three-pillar strategy focused on education and skills; enterprise development; and consumer financial education. The group is committed to making a difference and uplifting communities where it operates while creating value for its shareholders, and is showing this by making Shared Growth part of its everyday business and operational strategy. The purpose of the group’s strategy is to identify societal problems that it can assist in solving and by so doing improve the prosperity of the communities where it operates. By ensuring that these communities are more prosperous, Absa will increase the opportunities for itself as a business to be prosperous as well. Therefore, Shared Growth is much more than Social Investment, but represents an opportunity for this way of thinking to be embedded within organisation as part of the way it conducts its business.
Important to note is that Absa’s Shared Growth strategy is underscored by principles of creating shared value. The idea of creating shared value is a business management concept first introduced in the Harvard Business Review article Strategy & Society: “The Link between Competitive Advantage and Corporate Social Responsibility”. The concept was further expanded by Michael E. Porter in a follow-up article written in January 2011 titled: “Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society”.
Tshikululu Social Investments and Absa Bank Limited are not obliged to disclose the reasons behind any decisions taken in response to this RFP. Absa Bank Limited reserves the right to, in their sole discretion, reject any proposal, in whole or in part
The Absa request for proposals process is now closed. Thank you to all who have submitted proposals, and we will revert directly in due course.