African Bank has been honoured with the Banking For Good Award, from the global Banking Tech Awards, in recognition of its outstanding contributions through the African Bank Enterprise & Supplier Development (ESD) initiative. This comprehensive project is designed to generate opportunities for Small, Medium, and Micro Enterprises (SMMEs) in South Africa.
African Bank’s ESD initiatives are aimed at delivering tailored capacity development that will help drive market and investor readiness in SMMEs. It draws inspiration from the bank’s rich heritage and was established to make a tangible difference in the lives of the people and communities that the bank serves by supporting the aspirations of underserved entrepreneurs. The bank’s Transformation & Sustainability initiatives, of which ESD is a vital component, forms part of African Bank’s strategic outlook and underlines its conviction that it is more than simply a bank. African Bank is a movement manifesting itself as a bank.
“Our ESD initiatives aim to empower SMMEs in previously disadvantaged communities through knowledge, business support, market access, and funding. We consider economic growth stimulation essential to our bank’s success, which is why we have integrated ESD into our strategic objectives. We see ourselves as a transformative force addressing socio-economic inequality. Through ESD, we strive to create opportunities for small businesses and make a meaningful impact for individuals and our communities,” says Edna Montse, African Bank’s Group Chief Transformation and Sustainability Officer.