The Absa CSI Trust

Empowerment Trust

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Overview

The Absa Corporate Social Investment (CSI) Trust was formed as part of the milestone Broad Based Back Economic Empowerment (B-BBEE) transaction that Absa launched on 1 September 2023. The transaction allocated 4% shareholding of the bank to fund social impact activities. The Trust's mandate and impact objective are delivery of education and employability for young black South Africans, developing pathways that enable them to become economically active and ensure their transition to sustained earning opportunities. The impact objective further enables contribution to growth of economies and social change in line with the bank's ambition to be an active froce for good in everything we do.

Our landmark B-BBEE Deal has a CSI component that black participants in selected education and youth employability programmes in South Africa.

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Board of Trustees

Ihron Rensburg

Absa CSI Trust Chair

Professor Ihron Rensburg is an established executive coach and mentor with over 35 years leadership and executive management experience. Professor Rensburg has held a chief executive role at a university for 14 years. Has a proven track record in developing strategies and plans, and driving teams to perform. Track record also includes stabilizing and turning around failed institutions as well as organisational turnaround skills and competences.

Professor Rensburg has strong relationship and networks in government, education, business and civil society strategic networks. These include Pan African and international networks. An acknowledged education and higher education policy maker with well-established policy development and analysis skills.

Godwin Khosa

Godwin Khosa is the Chief Executive Officer of the National Education Collaboration Trust (NECT), he was appointed in 2013. He was previously CEO and Programme Director respectively at JET Education Services. The early 2000s (2001-2003) saw Godwin honing his research skills as research manager of the Human Sciences Research Council. Prior to this, Godwin served as policy analyst and senior manager as the Centre for Education Policy Development (CEPD).

Godwin holds a PhD - Modelling Multiple Stakeholder Approach to Education Services Improvement: A Case Study of the National Education Collaboration Trust in South Africa (University of Sussex); Masters of Management, specialising in Public and Development Management (Wits); a post-graduate diploma in Public Policy and Administration (Wits); BA Honours in Geography (UNISA) and BA Education (UNIN).

Thabisa Mkhwanazi

Thabisa Mkhwanazi is a visionary, dynamic and impact driven executive with close to 20 years of learning and successfully developing, leading and executing business driving and award-winning marketing campaigns. Recognized as an inspiring leader, outstanding communicator and world class marketer Thabisa believes in the value of thought leadership to fuel results. Thabisa has a deep love and passion for building brands and marketing. With local and global experience, she has managed some of South Africa’s biggest brands.

In 2015 Thabisa was appointed as the Marketing Director for KFC and lead the iconic brand into new and uncharted territories. The appointment onto the Yum Africa Executive Leadership team in 2017 as the first black individual was a humbling and exciting career highlight for her. Steering the dynamic DSTV South Africa brand has deepened her experience across marketing disciplines.

Nozipho Tshabalala

Nozipho Tshabalala is a conversation strategist with experience in research, high-impact interventions and brand strategy. The experience she gained was through work in organisations in the public and private sectors such as the Deputy Presidency of the Republic of South Africa, the Executive Office of the Mayor of Washington, Umlambo Foundation and Tata Africa Foundation. She has led efforts of fundraising, stakeholder relations and oversight of programme developments.

She has received fellowships from the Young African Leadership Initiative, African Leadership Initiative (both 2016) and the International Women’s Forum (2023). Awarded 100 Most Influential Youth South African (2019), Most Influential Youth South African (2019), Authentic Leader Award, Young Leaders Connect (Programme of IFWSA)(2022) and Under 40 Leadership Award (2022).”

Deborah Mutemwa-Tumbo

Deborah Mutemwa-Tumbo is an Advocate of the High Court of South Africa with practice experience in organisations such as Webber Wentzel, Cliff Dekker Hofmeyer, Corruption Watch and the Constitutional Court of South Africa. She is currently a member of the Johannesburg Society of Advocates holding Chambers at the Maisels Group. Deborah serves as an independent non-executive director on various boards, including ABSA Home Loans (RF) Limited and NewGold (RF) Limited. She is the non-executive chairwoman of Tumbo Scott Incorporated, a company she co-founded in 2016, which has provided high quality legal services to hundreds of clients locally and internationally.

In June 2021, Deborah was featured in Forbes Africa’s top 30 under 30 list for entrepreneurship in the legal industry. She received recognition in 2019 from the international community as a nominee for the Mary Chirwa Award for Courageous Leadership and was honoured at the awards ceremony held at the Peace Palace in the Hague, Netherlands. In June 2019 she received a special recognition award from Gauteng Premier David Makhura for her work in justice and law at the third annual Gauteng City Region Premier’s Youth Excellence and Service awards. In 2018, she was recognised as one of the top 200 young South Africans by the Mail & Guardian in their 2018 issue of the M&G 200 Young South Africans.

Milestones

Inaugural Absa CSI Trust Annual General Meeting

  • Held on 28 August, the meeting provided an overview of
  • The strategic intent of the Trust;
  • The corporate structure and shareholding of the Trust;
  • Presentation of the audited Trust Annual Financial Statements for the year ended 29 February 2024; and
  • Opportunity for engagement with Beneficiary Representatives.

Election of Beneficiary Representatives

  • 6 Beneficiary representatives have been elected. The beneficiary representatives are responsible for:
  • Representation of the voice and interests of beneficiaries
  • Preparation and provision of quarterly status reports on the progress of the programmes under delivery to the Absa CSI Trust
  • Attend monthly Service Level meetings and other ad hoc meetings

Establishment of the Absa CSI Trust Operations Committee

  • The Operations Committee (OpsCo) oversees and coordinates activities of the Trust and ensures alignment between the Trust and Absa: Corporate Citizenship, Finance, Tax, Legal, Compliance, Internal Audit/ Risk, Comm/Public Relations/ Brand and the Trust.

CSI Trust Programmes

IKUSASA Student Financial Aid Programme, Fundi: Post Graduate Scholarship Programme in selected study fields in high demand.

Gradesmatch: Provide a comprehensive wrap-around support to university students through career planning, tutoring, personal and on-demand mentoring, and psycho-social support, including connecting students to institution resources.

Harambee Youth Employment Accelerator: Train unemployed youth as Last Mile Delivery Drivers and transition them into income generating opportunities in growing sectors of the economy.

National Business Initiative: Train unemployed youth in Installation, Repair and Maintenance and develop pathways for them to qualify as artisans.