Absa Group Expands Fuel Rewards Nationwide in SA, JSE: ABG Share Price Prepares to Resume Uptrend

Quick overview

Absa Group has expanded its fuel rewards programme through a new partnership with Shell South Africa as rising fuel prices continue to place pressure on South African households.

Absa Expands Fuel Rewards Network

Absa Group announced that customers will now be able to earn cashback and instant rewards at participating Shell fuel stations across the country through a partnership combining Absa Rewards and Shell V+.

The move comes as fuel prices continue climbing rapidly, increasing financial pressure on consumers and making everyday savings more important for many households.

According to the bank, the expanded partnership gives customers access to rewards across a much broader national network by adding Shell alongside existing fuel partner Sasol.

The combined rewards programme will be available at nearly 600 Shell service stations nationwide.

Customers Can Earn Cashback and Instant Rewards

Customers who are active members of both Absa Rewards and Shell V+ can qualify for multiple benefits when paying with their Absa cards at participating Shell locations.

Depending on their rewards tier, users may earn:

• Up to 30% cashback through Absa Rewards
• Up to 50 cents per litre in Shell V+ instant rewards
• Up to 2.5% cashback on in-store purchases

The companies said the programme is designed to provide more accessible and practical savings opportunities during a period of elevated living costs.

Share Price Finds Support

The company’s share price was on an uptrend during 2025 and reached at R278.53 by February, but we saw a ferocious pullback in March. However a base formed around the R230 zone and we saw a rebound. But the 20 weekly SMA acted as resistance and the price retreated back down, but we’re seeing a bullish attempt this week, underscoring investor confidence in its strategic progress.

ABGJ Chart Weekly – The Pullback Seems to Be Over

Rising Fuel Costs Drive Consumer Pressure

Absa said growing transport expenses have become one of the biggest pressures facing South African consumers, especially as fuel remains a major monthly household expense.

Alicia Raynard, Executive for Absa Rewards, noted that the bank had already introduced temporary fuel relief measures earlier this year through increased cashback caps.

She said the next phase of the strategy focuses on expanding customer access and improving convenience by increasing the number of locations where rewards can be earned.

According to Raynard, the goal is to “meet customers where they are” while helping them reduce everyday fuel spending.

Shell Partnership Supports Broader Savings Strategy

Shell South Africa said its Shell V+ programme was designed to make rewards simple and accessible for customers based on spending activity and engagement.

Mobility Marketing Manager Monica Sithole said the partnership with Absa reflects a shared focus on customer value and practical savings solutions.

The collaboration also strengthens Shell’s consumer loyalty strategy while giving Absa customers more flexibility and nationwide access to fuel-related rewards.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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