What are the most significant cases and transactions that your legal team has recently been involved in?

Over the past year, the Absa Group Legal team has been at the forefront of several significant cases and transactions that highlight our innovative approach and operational excellence. Notably, we have achieved substantial litigation recoveries totalling R1.6 billion across South African business units, alongside avoiding claims amounting to R7.06 billion. These efforts underscore our commitment to safeguarding the company’s financial integrity and operational efficiency.

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense? 

One of our most notable innovations includes the integration of artificial intelligence with the successful implementation of the Abby Legal chatbot. This initiative has significantly improved our legal team’s responsiveness and efficiency, showcasing our ability to leverage technology to enhance legal service delivery without incurring substantial costs.

How do you see the general counsel role evolving in South Africa over the next five-ten years? 

Looking ahead, the role of the general counsel in South Africa is expected to evolve significantly, with a pronounced shift towards strategic business advising, risk management, and embracing digital transformation. Technological advancements, particularly in artificial intelligence and contract automation, will significantly impact the in-house legal landscape, empowering teams to work more efficiently and effectively.

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most? Which have you found most useful in your legal team? 

AI and machine learning are set to revolutionise the legal field by automating routine tasks, enhancing decision-making processes, and improving efficiency. Our team has found tools like contract automation and AI-driven legal chatbot platforms to be particularly beneficial, allowing us to focus on strategic initiatives and complex legal analysis.

What are some of the main trends impacting your industry in South Africa?

Digital transformation, regulatory changes, and a focus on sustainability and social governance are key trends impacting our industry in South Africa. Our legal team is adapting by integrating technology into our operations, staying ahead of regulatory developments, and ensuring that our practices align with global standards for sustainability and ethics.

What are some of the key developments that have affected your business over the past year?

Over the past year, regulatory changes, particularly in the financial services sector, along with advancements in digital technology, have significantly influenced our business operations. Our legal team has played a critical role in navigating these developments, ensuring compliance, and leveraging technology to improve service delivery.

How do you suggest in-house lawyers build strong relationships with business partners?  

We advocate for an approach based on transparency, collaboration, and mutual understanding. Regular communication, aligning legal strategies with business goals, and demonstrating an understanding of the commercial landscape are crucial. We have implemented initiatives like the Gold Standard within Legal to further strengthen our relationships with business partners.