Today's Labour News

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AbsaANA reports that the Association of Black Securities and Investment Professionals said on Monday that Absa's appointment of black executives in the corporate and investment banking division showed the bank now recognised the importance of transformation and ethnic diversity.  

Last November, ABSIP expressed concern at the bank’s appointment of two white men as the new chief executive officer of corporate and investment banking and as the new chief executive for engineering service.  It asserted that this made the top echelons of the bank’s investment banking too white and too male.  At a meeting with Absa CEO Maria Ramos and chairperson Wendy Appelbaum it called for redoubled efforts to ensure that boardrooms and executive positions reflected SA’s demographics.  The Black Business Council and the Black Management Forum also engaged the Absa leadership team.  “We are happy that Absa took our advice into consideration that those appointments perpetuated a lack of ethnic diversity that did not reflect the profile of its customers and the country,” ABSIP president Sibongiseni Mbatha said.  He added:  “Now we are pleased that the bank has recognised that there is no shortage of black skills.”

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