ABSIP NEWSLETTER | DECEMBER 2020

If there was ever a poll on the year 2020, most of us would vote for it to be cancelled. Whilst challenging in many respects, this year has also been filled with many lessons of growth.

There is no doubt that at both a personal and professional level, life will never be the same. This goes for both the way in which we live and do business. The widespread nature of the pandemic and its resultant social and economic lockdowns saw the greatest loss in human productivity and global economic output in recent times. As a player in the global economic landscape, South Africa was not spared the adverse effects of the trying times. At the end of the third quarter, a record number of jobs were lost and the highest decline in GDP was recorded. The high volume of businesses that shut doors permanently during the lockdown and the loss in tax revenues, simply mean that the effects of the events of 2020 are going to linger on for years to come.

ABSIP as an organisation has also gone through changes, which were a litmus test of leadership and integrity. As the National Executive Committee (NEC), we are of the view that for this great organisation to reach new heights, we need a collaborative effort from every one of our stakeholders. On our end, we remain committed to serving you with authenticity, honesty, reliability, and credibility. Together, we can continue to build a credible and trusted organisation.

We would also like to take this opportunity to thank our corporate sponsors, whose continued support is critical to our ability to remain viable and relevant as an organisation. We appreciate your unwavering support and willingness to support us financially and through the different initiatives that ABSIP embarks on. You remain important stakeholders in the work that ABSIP does.

To our members, ABSIP exists for you, through and with you. We are grateful for the trust you have placed in us to lead the transformation drive in the financial services sector. Our goal is to ensure that your interests are met and to make ABSIP your association of choice in the financial services industry. This year, we celebrate 25 years of championing leading-edge, robust and difficult conversations regarding transformation in the financial sector. We are indeed proud to reach this milestone, which for us defines a renewal to our commitment to see a fully transformed and inclusive financial services for the benefit of all South Africans.

While we celebrate this great achievement of existence, we sadly could not host our annual awards due to the impact of Covid-19. The awards are an integral part of our culture and tradition as ABSIP in recognising excellence and the efforts of formidable individuals and organisations that advance ABSIP’s cause. However, we do look forward to celebrating these leaders in the year 2021.

Highlights

As we reflect on the year 2020, these are our highlights:

We launched ABSIP’s first Thought Leadership Network focusing on advocacy work.

ABSIP submitted recommendations to the National Treasury on the Loan Guarantee Scheme.

ABSIP submitted a response to the National Treasury on the Conduct of Financial Institutions (COFI) Bill; and

Submitted a response to the National Treasury on the Financial Inclusion policy paper.

We successfully hosted robust and engaging conversations through Fireside Chats with female trailblazers.

In partnership with Standard Bank, ABSIP hosted a four-part Digital Disruption Series focusing on challenges and opportunities of the 4IR.

ABSIP held an engaging and insightful ABSIP Youth Conference on 4IR.

ABSIP endorsed the Transformation Action Forum launched by Asset Managers.

Governance

As the newly elected executive committee, we hosted our first successful Annual General Meeting.

We are also delighted and welcome the hiring of a Regulatory and Public Affairs Officer—Ms. Thulebona Mhlanga.

Farewell and Congratulations

It is with great sadness that we bid farewell to:

ABSIP and NASP stalwart – Mr. Gregg Boyd – who passed away in August. Gregg played an instrumental role in the founding of ABSIP 25 years ago and served as a key facilitator of the relationship between ABSIP and the US-based National Association of Securities Professionals (NASP).

Businesswoman, gender champion and farming activist Dr. Vuyo Mahlati. Her passing left a huge loss to South Africa and multiple sectors in which she served as a transformation and advocacy champion.

A great legend and industry leader, former Auditor-General of South Africa, Mr. Kimi Makwetu. He is remembered for his contribution to the auditing profession and the public service.

ABSIP shares the delight and excitement of South Africans in the appointment of Ms. Tsakani Maluleke as the new Auditor-General. Ms. Maluleke is the first female Auditor-General. Her appointment marks a seminal moment in our history and reflects much-needed progress in the public service.

As the ABSIP National Executive Committee (NEC), we would like to wish you a safe and relaxed festive season and a Happy New Year.