Shared values of


Business success is built on a foundation of high-quality partnerships with an understanding of each other’s strategic goals. Absa Corporate and Investment Banking and the Pick n Pay Group are proud to celebrate the 55th year in their long-standing partnership which delivers societal impact for all stakeholders.

Since its inception in 1967, Pick n Pay has grown exponentially, with more than two thousand stores across South Africa, Namibia, Botswana, Zambia, Nigeria, Eswatini, and Lesotho, and an annual turnover of over R100bn. The partnership has expanded to incorporate initiatives such as the Absa Rewards Programme, as well as the management of an Enterprise and Supplier Development (ESD) programme. Pick n Pay aims to be a Net Zero business by 2050, reducing store food waste by 50% by 2030. This ambitious sustainability target will be enabled by, among others making all PnP-branded packaging recyclable or reusable by 2025, reducing energy usage by 45% by 2030 and water usage by 20% by 2025

Absa is proud is commit R1 billion in this landmark sustainability-linked funding package to assist the retailer in implementing Project Ekuseni. This will in addition to contributing to the rejuvenation of the supermarket format and growth, also support the conversion of Pick n Pay’s refrigeration to natural refrigerants, reducing emissions and also lessening food waste.

These are all efforts to make the world a better place and align with Absa’s values and ESG ambitions, as well as further solidifying our long-standing relationship with Pick n Pay.

Related Articles


Leading the Expansion of Africa’s Capital Markets

We are pleased to have acted as Lead Transaction Advisor for Emtel Limited on their Initial Public Offering and subsequent listing on the Stock Exchange of Mauritius.


Accelerating communications access across the continent

We are pleased to have acted as Subscriber and Mandated Lead Arranger for Convergence Partners and the Datacentrix management team in their 100% acquisition of Datacentrix from the Alviva Group.


Enabling the vision of a more connected Africa

We are pleased to have acted as sole M&A Advisor to Alviva, in their disposal of Datacentrix to Convergence Partners and the Datacentrix management team.