Good news for people with Absa bank accounts in South Africa
Absa has expanded its fuel rewards to Shell fuel stations nationwide amid a rapid rise in fuel prices.
The Big Four bank said that South Africans are feeling the pinch of rising fuel costs, which have placed additional strain on household budgets and increased the importance of everyday savings.
It has thus partnered with Shell South Africa to give customers more opportunities to earn cashback on fuel spend across a wider network.
The partnership will combine Absa Rewards and Shell V+ loyalty programmes, offering real cash back and instant rewards.
Absa Rewards Members who are also active Shell V+ members pay with their Absa cards at participating Shell service stations.
“Fuel is one of the most significant everyday expenses for many South Africans, particularly at a time when household budgets are under pressure,” said Alicia Raynard, Executive: Absa Rewards.
“Earlier this year, Absa Rewards introduced temporary fuel relief measures through increased cashback caps.”
Raynard said that this next phase expands the fuel rewards network by adding Shell, alongside the existing fuel partner Sasol.
She added that it wants to meet its customers where they are and give them more opportunities to save on everyday fuel spend.
It added that customers will have access to rewards across a broader range of locations nationwide, benefiting from two extensive national footprints.
It said that Shell V+ Rewards is based around simple, accessible value, offering instant rewards based on customer engagement and spend behaviour.
Depending on their rewards tier, customers can earn up to 30% cashback via Absa Rewards, while also benefiting from Shell V+ instant rewards of up to 50 cents per litre and 2.5% on in-store purchases.
“Shell V+ was created to make everyday rewards simple and accessible for our customers,” said Monica Sithole, Mobility Marketing Manager.
“In partnering with Absa Rewards, we saw a strong alignment in how both organisations are prioritising customer value and relevance.”
Sithole added that the combined rewards will be available across nearly 600 Shell service stations nationwide.
End of an era coming for Shell
The new fuel rewards come amid a massive change for Shell petrol stations in South Africa, which are expected to have a new owner soon.
In 2024, Shell said that it had decided to reshape its downstream portfolio and intended to divest its shareholding in Shell Downstream SA (SDSA).
The company said that it wanted to reduce downstream exposure globally to focus more on its upstream business, exploration and the extraction of crude oil, natural gas and natural gas liquids.
Abu Dhabi National Oil Company (ADNOC) was reportedly in advanced talks with Shell to buy the petrol station network in April.
Citing people familiar with the matter, Bloomberg reported that ADNOC has emerged as the preferred bidder.
Shell’s talks with Gunvor Group, which is one of the world’s biggest independent oil traders, had reportedly fallen through.
People who spoke with Bloomberg said the agreement could be reached this quarter, but negotiations remain private.
Acquiring Shell’s retail fuel outlets in South Africa will give ADNOC roughly 10% of the market in Africa’s biggest economy.
The deal is expected to value Shell’s South African assets at around $1 billion. The sale process started in 2024 and has advanced despite the Iran conflict and its larger impact in the Middle East.
Loading ...