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Shiva Makotoko, head of retail and business banking at Absas public sector division, says Absa is also the primary banker to seven of the nine Further Education and Training (FET) colleges in KwaZulu-Natal.
THE provincial banking contract, held by banking giant Absa, has been extended by the KwaZulu-Natal government for two years.
The renewed contract, which began at the beginning of November 2011, runs until October 31, 2013.
Shiva Makotoko, the head of retail and business banking at Absa’s public sector division, said the extension of the contract reinforced the key role the bank played in the public sector.
“It gives us an opportunity to strengthen our partnership with another key provincial government,” she said.
According to Absa, its primary banking relationship with KwaZulu-Natal municipalities increased from approximately 28 percent in 2008 to 40 percent in last year.
This includes five of the province’s 10 districts.
Makotoko added that Absa was also the primary banker to seven of the nine Further Education and Training (FET) colleges in KwaZulu-Natal.
“This enables Absa to support these colleges with student loans and student accounts through affordable banking options,” she said.
Absa is also involved in the Premier’s Academy, where the bank has endorsed the financial literacy training programme of the premier’s office.
About 350 employees have gone through the Massified Induction Programme training that was held at the Premier’s Academy.
Approximately 800 government employees have gone through the financial literacy training at all Adult Basic Education and Training sessions.
Retirement planning workshops are also conducted with KZN government employees.
Makotoko added that Absa was working closely with the Department of Agriculture’s task team on a Food Bank project in Zululand.
The agricultural Food Bank is being established to provide food security to many vulnerable people in the province and to create a pro-small farmer supply chain that generates wealth and creates jobs in rural areas.
“We have a clear strategy to maintain our market share in the public sector by delivering propositions in close collaboration with our clients that enable them to simultaneously fulfil their service delivery mandate,” she said.
“Our intention is to develop our relationships with existing clients while acquiring new ones.
“This tender extension aligns directly with our focus in this sector…
“This is underpinned by the need to make a measurable impact that would also contribute to empowering both the non-profit and commercial sectors,” added Makotoko.
