Article written by Ronnie Mbatsane (Managing Executive for SME Business & Sanah Gumede, Managing Executive for Strategy and Customer Value Management at Absa Relationship Banking)
The past few years have been difficult ones for South Africans. We have faced the COVID pandemic, intensified load shedding, civil unrest and natural disasters to name a few. Not only have these challenges interrupted our daily lives, but the environment has changed significantly as a result with profound social and financial implications for individuals as well as businesses. According to the Africa Report, a significant portion of South Africa’s young people are now unemployed, with women making up two-thirds of the job losses during the pandemic.