Absa unveils Youth Banking bundle
Monday, January 31, 2022 | 1400 Views |
Absa bank in Main Mall PIC: MORERI SEJAKGOMO
The new offering, which targets customers from 0 to 30 years of age provides access to a suite of solutions to serve their transactional and savings needs, as well as borrowing and protection needs as their financial sophistication grows and reaches different stages of life.
Absa retail director Valeta Mthimkhulu said they recognise the incredible role that youth plays in the economic development and growth of the nation as they are the backbone of any society.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...