Absa Group helps graduates blocked by debt get a second chance

The Absa Group says it is stepping up efforts to tackle youth unemployment by helping graduates burdened by historical debt enter the job market.

Through its partnership with the Feenix Trust, the bank is focusing on young people who have completed their studies but cannot access their certificates due to unpaid fees.

The initiative aims to unlock opportunities for graduates who are unable to secure employment despite having qualifications.

Absa says addressing this gap is key to enabling more young South Africans to participate in the economy.

"Our purpose is to empower Africa's tomorrow together one story at a time. It's important for us to be an active force for good so that we're able to help society progress," said Sydney Mbhele, Chief Marketing and Corporate Affairs Officer.

The bank has committed more than R60 million to the programme, supporting over 300 students in clearing outstanding fees.

Beneficiaries are selected based on factors such as academic performance and financial need, to ensure they can contribute meaningfully to society.

Beyond settling debt, the programme also connects graduates to job opportunities through initiatives like the Youth Employment Service, while offering skills development and support to ease their transition into the workplace.

Mbhele added, "We are a very youthful continent. And then you juxtapose that with the scourge of unemployment and some of the social ills that we see in society. Actually, the apex of it is getting to solve the problems that really matter.

"This project, which we do with Absa Feenix Trust Partnership, seeks to do exactly that. Let's look at how we can help people who have really given some effort, have gone to universities, have good qualifications, and have not been able to translate that into anything meaningful because they owe the fees. They don't have certificates or transcripts."

Absa says its broader strategy is to drive financial inclusion and support long-term economic participation.

The bank believes corporate involvement must go beyond financial contributions, focusing instead on sustainable solutions that address systemic challenges like unemployment and inequality.

By investing in young graduates, the group hopes to strengthen the economy while helping individuals build stable futures.

To listen to Mbhele in conversation with 702's Bongani Bingwa, use the audio player below: