PODCAST | Social responsibility is more than a tick-box exercise at African Bank

African Bank, one of South Africa’s largest financial institutions, is on a drive to grow its positive impact in the communities in which it operates. That’s according to Edna Sathekga-Montse, the bank’s group chief Transformation & Sustainability officer. Speaking on an episode of the Business Spotlight podcast (listen to it below), Sathekga-Montse says social responsibility is not a tick-box exercise for African Bank.

Instead, it is a core business imperative that depends on co-creation, authentic employee, community, customer, supplier and regulator engagement and practical interventions. In essence, the bank has embedded sustainability into its broader strategy. When communities and customers thrive, the business thrives.

African Bank’s focus on this area reflects the growing importance of sustainability, which has become a key consideration for global investors assessing companies. At the same time, there is increasing consumer and regulatory pressure for transparent, ethical supply chains and business operations, making sustainability a competitive necessity for companies like African Bank and its corporate partners. Sathekga-Montse’s business unit is in charge of community and youth empowerment initiatives, enterprise development for small businesses, and broader financial inclusion strategies.

[paywall]

“What’s important is that we do not view social responsibility, transformation, and sustainability as stand-alone activities. They are really part of how we do business,” she says. “For us sustainability and business success are not competing priorities …

a sustainable business is one that creates value for all stakeholders. So customers, employees, communities, shareholders, and society at large.” A major driver of the bank’s success in its community programmes is the active buy-in from its employees. It facilitates this by offering a dedicated, fully paid “CSI day” for staff to volunteer.

In addition, rather than selecting community initiatives from the top down, Sathekga-Montse explains thatAfrican Bankrelies on employees with ties to specific communities to identify causes that need support, as they have first-hand insight into local needs. “Many of our programmes are really successful because African Bankers volunteer their skills, their time, expertise and their energy,” she says. “And we found that employees want to contribute because these causes are causes that create genuine change.” Empowering women and young people forms a key part of African Bank’s transformation and sustainability strategy.

[/paywall]