Minister of Science and Technology, Ms. Naledi Pandor,
Deputy Minister, Mr Derek Hannekom,
Chairperson of Technology Innovation Agency, Dr Mamphela Ramphela
DDG for Human Capital and knowledge Systems, Dr Daniel Adams
CEOs of Department of Science and Technology (DST) Agencies present,
Fellow colleagues from Absa
Members of the media
Distinguished guests, Ladies and gentlemen,
Absa is honoured to have reached today’s milestone in the signing of this Memorandum of Understanding. This is a natural progression in our partnership with the Department of Science and Technology to advance projects on Human Capital Development, renewable energy, Information Technology, technology commercialisation and Agriculture.
I would like to briefly highlight some of the areas of our mutually beneficial partnership.
In terms of Research Development, I am thrilled that theDepartment has approved R1.6-million funding towards the Absa Risk Training and Research at the Business Mathematics and Informatics (BMI) Centre at the North West University. This funding will supplement Absa’s commitment of R8.4-million for the Risk Research Programme being hosted by the same Centre.
In terms of the Talent Development Programme,Absa has committed R12-million in funding over a period of 6 years in support of this. Absa will also assign a Project Manager from our Young Talent team who will work with the Department’s team throughout the end to end process.
In the area of Information, Communication, Technology and Enterprise Development, Absa & the CSIR are exploring joint initiatives mostly related to Enterprise Development. The Wireless Mesh Network is one of the technologies to provide broadband and connectivity to the rural areas of South Africa. The project, spearheaded by the Department, is being piloted in 200 schools in the rural communities of Mpumalanga and Limpopo. Absa would be able to provide enterprise development, entrepreneurial training and support to the Village Operators to nurture their small enterprises to grow and become sustainable.
Absa is in the process of commissioning Renewable Energy & Energy Efficiency Risk Research through a programme we are supporting and sponsoring at UNISA. The aim of this is to help understand the risks associated with funding Renewable Energy technologies and projects, with a view to support government in scaling up most of the projects in this area.
Minister, on behalf of Absa, I can confidently say that we are fully committed to working with Government and partnering with you on the key areas which I have just elaborated on.
Our role extends beyond that of just a bank. As a noteworthy corporate citizen, we take a step closer today towards realising the desired partnership through industry, government and education to attract skills and competencies required to address our developmental challenges and building our research and innovative capabilities as a country.
Absa understands that South Africa needs a new breed of graduates in these scarce fields if we are to compete on global platforms. We want to ensure that research, development and innovation become part of the bedrock of our economy.
Our proud association with this partnership provides us with an excellent platform to engage with our key stakeholders, namely government, communities that we serve, private sector and academia.
As one of South Africa’s largest financial services providers we are proud to take the lead in collaborating on key programmes that are strategic to the country’s growth and development and which will further our national interests and priorities.
Thank you all for taking the time to join us here today.
