Endorsement of the Transformation Action Forum

Endorsement of the Transformation Action Forum
Association of Black Securities and Investment Professionals (ABSIP)

22 October 2020

The Association of Black Securities and Investment Professionals (ABSIP) pledges its support for The Asset Owner-driven transformation action movement initiative. The Transformation Action Forum (TAF) aims to achieve a truly transformed and inclusive investment management industry. This commitment aligns to ABSIPS own values in ensuring that the Financial Services Sector is truly transformed and inclusive.

The targets set by TAF to achieve at least 50% black-owned and at least 50% managed investments by 2025 are in line with our vision to realise radical economic transformation. Investments and savings form the backbone of South Africa’s wealth creation. By ensuring that transformation is achieved across the investments value chain, this accelerates policy reform. In addition, we believe the united voices of policymakers can play an influential role in redressing inequality in South Africa.

As practitioners in the field of investments, we support the solutions highlighted below such as:
•the implementation of retirement fund policy regarding transformation;
•motivating for regulatory and legislative reform; and
•supporting sustainable transformed business.
These form a baseline to fully addressing the bottlenecks and hindrances to the progress we need to make in advancing the transformation agenda. The TAF partnership is our example of a strategic partnership that can help achieve sustainable and meaningful change.

Polo Leteka Radebe
For and on behalf of ABSIP