Eight years later the transaction has been a success, unlocking a substantial amount of financial benefits for a broad base of participants including community trusts, women's groups, BEE companies, stokvels, small and medium businesses as well as historically disadvantaged individuals across South Africa's nine provinces.
Group chief executive of Absa Maria Ramos, says the deal has benefited both Absa and the Batho Bonke empowerment partners. "Absa was among the first financial services companies to implement a BEE deal. This has created value for Absa and broad based historically disadvantaged individuals and groups. We'd like to thank Batho Bonke for their contribution. We look forward to continuing our contribution to the transformation of the country."
