The Association of Black Securities & Investment Professionals (ABSIP) held its 2023 ABSIP Financial Services Sector Awards ceremony on 16th November 2023 with a rather jovial atmosphere and exciting turn-up of our esteemed delegates. Amongst the delegates was our patron, the Honourable Deputy Minister of Finance (Dr David Masondo), Financial Industry leaders consisting of our continued sponsors from various banking and investments financial sectors and our loyal ABSIP members.
We witnessed particularly the nominated companies and individuals vigorously wait in anticipation to gauge their performance for the year and equally observe how the financial sector has evaluated their performance.
The year 2023 has been an exhilarating and equally quite an overwhelming one with a number of challenges in the financial industry and economy at large. The theme for the 2023 awards was “ Emerging Stronger – Honouring Resilience in the Financial Sector”.
Various speakers reflected on the key developments and reflections regarding the growth and resilience of the financial services sector. The ABSIP Deputy President, Langa Madonko delivered a speech on behalf of the ABSIP National Executive Committee (NEC). His address reflected on the various milestones and achievements of ABSIP achieved during 2023. Mr Madonko reflected on the work done by the newly-elected NEC since the last ABSIP AGM held last August. During his reflections, he further touched on the key aspects that made the year 2023 challenging but prosperous.
ABSIP managed to engage in thought-provoking conversations that were held during the year with various CEOs over a “Round Table” with the intention of interrogating transformation and seeking transparency thereof. Needless to say, this was quite a success. Amongst others, Mr Madonko also highlighted how, through continuous learning, steered through our various ABSIP chapters, ABSIP has successfully hosted a couple of flagship events including the annual ABSIP Women in Focus Summit (AWIF) where Artificial Intelligence and future of work was the agenda that was unpacked. Mr Madonko further reiterated how there is still plenty more to be done in the financial industry in terms of embedding inclusive transformation and 2023 has shown to be the year where we collectively show resilience.
The Honourable David Masondo’s reflections were around remaining resilient as a country and financial industry amid the current economic reform. This yielded a greater and further address to potentially fostering private and public collaboration in the financial services sector. Although this was not the correct debating platform, there was a highlight of the need for expansion in the black asset management sector and relatively collectively including the strategic compliance mechanisms to ensure the financial industry continues to change its ownership for the greater good.
The Principal Executive Officer of the Government Employees Pension Fund (GEPF), Mr Musa Mabesa gave a keynote address that touched on the continued efforts on transformation. Mr Mabesa was quite affectionate about how his personal leadership journey coming from humble beginnings has enabled him to understand that it is possible to achieve greatness within the financial services sector and to rise to a role as prominent as a Principal Officer of the largest pension fund in Africa. One of the key aspirations at the GEPF was primarily the enhancements of its transformation policy. Mr. Mabesa touched on the importance of intentionally channeling the financial services sector towards ultimate diversity and inclusion from a transformation perspective. He further articulated that from a quantum perspective, speaking particularly to black asset management, we are certainly not where we want to be as yet, however transformation remains a journey to which the GEPF transformation policy seeks to address. Lastly, Mr Mabesa touched on leadership in the context of developing policies and exploring the candid realities and truths about leadership. He articulated the need for continuous learning and potential coaching of young upcoming asset managers with a clear intention of liberating the mind and creating leaders from the current system.
After a rather mouth-watering dinner served alongside the soulful Acapella “The Soil”, the nominees finally reaped their reward for their hard work. It was therefore only befitting for the ceremony to continue serving and quenching the thirst of the nominees with the award recognitions:
THE AWARDS CEREMONY IN ORDER OF PRESENTATION
1. STOCKBROKING CATEGORY SPONSORED BY IDC
Award: Best Sell-Side Research Analyst
Winner: Miyelani Maluleke
2. RETIREMENT FUNDS CATEGORY: SUBCATEGORY A: PRIVATE FUNDS SPONSORED BY RMB
This award was presented to a firm that implemented a transformation policy with the objective of supporting black asset managers.
Award: Asset Allocation to Black Fund Managers
Winner: Telkom Retirement Fund
3. ASSET MANAGEMENT CATEGORY SPONSORED BY ABSA
This category reflected the company’s managing funds on behalf of unit trusts, pension funds etc. These are companies that could demonstrate superior performance over the past 3 years relative to peers who manage similar asset classes in the industry.
Award: Best Black Fund Manager/Team- Local Equities
Winner: Benguela Global Fund Managers
Award: Best Black Fund Manager/Team -Global Equities
Winner: Perpetua Investment Managers
Award: Best Black Fund Manager/Team- Global Multi-Asset
Winner: Pallavi Ambekar - Coronation
Award: Best Black Fund Manager/Team-Listed Debt
Winner: Prescient Investment Management
Award: Best Black Fund Manager/Team-Hedge Funds
Winner: All Weather Capital
Award: Best Local Multi-Asset
Winner: Coronation
Award: Best ESG Strategy
Winner: Ninety One
4. PRIVATE MARKETS CATEGORY SPONSORED BY JP MORGAN:
This was awarded to an entity that had resources allocated to Black-owned start-ups as a percentage of the total budget allocated to funding start-ups.
Award: Best Private Market Funds
Winner: RH Managers
5. CORPORATE FINANCE CATEGORY SPONSORED BY VCP:
This targeted entities that had shown Transformational impact and support of transactions for a period.
Award: Impact - Corporate Finance Team
Winner: Old Mutual Corporate Finance
6. INSURANCE CATEGORY SPONSORED BY VCP:
This was awarded for an entity that offered products to the lower end of the market that are fairly priced and accessible.
Award: Financial Inclusion Award-Low-Cost Access to lower LSMs: Long Term Insurance
Winner: Nontobeko Lubisi (National Treasury)
7. CONSULTING CATEGORY SPONSORED BY RMB:
This was awarded to an Asset Consulting firm with greatest absolute or demonstrable progress (over 3-year period) in transformation of the firm itself – with reference to all categories of BBBEE scorecard and has seen an increase in assets allocated to Black investment managers.
Award: Most Transformed Investment/Asset Consultant
Winner: Motswedi Economic Transformation Specialists
8. SERVICE PROVIDER CATEGORY SPONSORED BY JP MORGAN:
This was presented to an entity that has demonstrated examples of social impact with tangible outcomes continuously offering support to emerging Black businesses.
Award: Excellence in Ancillary Services
Winner: Amidel
9. EXCEPTIONAL AWARDS CATEGORY SPONSORED BY STANDARD BANK
ABSIP recognized individuals who served an impactful journey in their thought leadership and continued contributions to the financial industry.
Award: Student Chapter of the Year
Winner: University of Cape Town
Award: Student Leader of the Year
Winner: Hlumelo Lujiva – University of the Witwatersrand
Award: Young Black Economist
Winner: Sisamkele Kobus
Award: Mxolisi Mbetse Award for Outstanding Young Professional
Winner: Tshego Dichabe
Award: Woman Leadership Award (ABSIP-FSTC)
Winner: Mantuka Maisela
Award: Young Woman Achiever Award (ABSIP-FSTC)
Winner: Naledzani Mosomane
Award: Successful Woman Entrepreneur in Finance Services
Winner: Kelebogile Moloko
Award: Greg Boyd Award for contribution to ABSIP
Winner: Asief Mohammed
Congratulations to all Winners, may we continue to foster greatness in the financial industry.
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