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

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. He has a proven track record in developing strategies and plans, and driving teams to perform. His track record also includes stabilising and turning around failed institutions as well as organisational skills and competencies.

For more information please see our Board and Management page

Godwin Khosa

He was appointed as the chief executive officer of the National Education Collaboration Trust (NECT) in 2013. He was previously CEO and Programme Director at JET Education Services. The early 2000s (2001-2003) saw Godwin honing his research skills as the 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 in Modelling Multiple Stakeholder Approach to Education Services Improvement: A Case Study of the National Education Collaboration Trust in South Africa (University of Sussex).

Nozipho Tshabalala

She is a conversation strategist with experience in research, high-impact interventions and brand strategy. The experience gained 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).

Thabisa Mkhwanazi

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. Recognised 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 Marketing Director for KFC and led the iconic brand into new and uncharted territories.

Deborah Mutemwa-Tumbo

She is an admitted attorney of the High Court of South Africa with five years’ practice in organisations such as Webber Wentzel, Cliff Dekker Hofmeyer, Corruption Watch and the Constitutional Court of South Africa. Deborah serves as an independent non-executive director on the board of NewGold (RF) Limited and am a member of the Audit and Risk Committee and the Chairwoman in the Social and Ethics Committee of the Company. She also serves as an independent non-executive director on the board of Habib Overseas Bank Limited, and serves as the chairwoman of the social and ethics committee

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.