Absa’s Black Economic Empowerment (BEE) purpose is to contribute meaningfully to the socio-economic transformation of our society through the black economic empowerment process, and thus sustain future stability, growth and profitability.
At ABAM, we recognise Black Economic Empowerment and Transformation as an integral part of our business strategy and comply with the Employment Equity practices set up within the Absa Group.
The Group has issued a Policy Statement which has been reinforced by appropriate objectives set out in the Group’s strategic plan. ABAM’s Exco is tasked with the ongoing development and implementation of this transformation strategy.
ABAM’s empowerment partners, through Absa Group, are the Batho Bonke consortium, of which the Mvelaphanda Group is a key shareholder. The relationship goes back to 2004 when Batho Bonke concluded a broad-based black economic empowerment transaction with our parent company, Absa.
Our group is a Level 3 contributor to BBBEE, and has an A rating.