Nedbank has a deep appreciation for the critical role that banks play in creating an inclusive economy for the benefit of society. We remain committed to living our purpose of using our financial expertise to do good by investing in projects and programmes that create jobs, enable structural reform, and facilitate a just transition that will safeguard the future and sustainability of our country. We continuously embrace our responsibility to contribute towards economic growth since impactful change and transformation require collective, practical action.
Linda Makalima
Nedbank Boardmember and Chairperson of the Nedbank Group Transformation, Social and Ethics Committee
Our approach to transformation
Nedbank advances transformation through a strategic, holistic, and purpose-led approach that leverages 4 key capitals aligned with the Amended Financial Sector Code (FSC):
- Human capital (people)
- Socioeconomic capital (society)
- Financial capital (business)
- Leadership capital (effective stewardship)
This integrated approach has enabled us to maintain a Level 1 BBBEE contributor status for 7 consecutive years. Other notable achievements include the following:
- Investing R174 million in consumer education, reaching approximately 100 million people.
- Allocating R175 million in enterprise development grants, supporting over 5 900 businesses and creating more than 3 340 jobs.
- Funding R5.7 billion in student accommodation, resulting in nearly 48 000 beds and 1 389 bursaries.
These milestones reflect our commitment to inclusive growth, sustainable development, and alignment with regulatory frameworks.
Each capital presents unique opportunities to drive transformation. Together, they enable us to address complex and interconnected development challenges, aligning national and business priorities while remaining responsive in the face of economic and regulatory change.
Our dedicated teams across the organisation collaborate to unlock transformative impact in key areas such as job creation, renewable energy, diversity, and skills development. Since 2019, we have actively supported the Youth Employment Service (YES) programme and is proud to be the largest contributor among the South African banks participating in the initiative.
We recognise the pivotal role of youth in shaping South Africa's future. To date, we have provided essential work experience and skills development opportunities to more than 17 000 previously unemployed young people, both internally and through sponsored placements. We continue to encourage other South African corporates to join us in addressing the youth employment crisis.
We remain committed to supporting the country's national agenda while embracing the Amended FSC Regulatory Framework, which guides transformation efforts across the financial services sector.
Click here to read our Society Report, including the detailed Transformation Review section.
