ABSIP Newsletter February 2022

ABSIP Strategy 2022

The Association of Black Securities and Investment Professionals (ABSIP) National Executive Committee (NEC), led by President Polo Leteka, held the strategy session at Sanctuary Mandela on 5th – 6th February 2022 to chart the way forward for the organisation.

Following an intensive review of progress made with reference to the strategy formulated at the previous strategy session, the NEC resolved not to make fundamental changes but rather to deepen and fortify the existing plan. Consequently, the robust and fruitful engagements over the two days resulted in a refined overall value proposition statement and clearly outlined benefits for all our student, professional and corporate members.

Value Proposition Statement: ABSIP exists to drive transformation, diversity, and inclusivity through facilitating the development of black professionals and corporates across the financial services sector. 

ABSIP Pillars: 

    1. Advocacy: ABSIP strives to champion transformational aspects of policy and legislation changes in the financial services sector.
    2. Networking and Engagement: ABSIP creates strategic networking opportunities with specified targeted outcomes.
    3. Professional Development and Career Opportunities: ABSIP provides diverse opportunities for continuous learning and personal development.

Value Proposition to our members: 

INDIVIDUALS

    • Access to diverse opportunities for continuous Learning & Development
    • Networking opportunities ranging from Peer-to-Peer to Mentor-to-Mentee engagements
    • Guidance on how to navigate a career path
    • Advocate for work environment conducive for Black professionals
    • Platform for individuals to engage in socio-economic conversations
    • Facilitate strategic Corporate Social Investment initiatives for individuals and employers
    • Recognition and celebration of Black excellence
CORPORATES

    • Gain access to market and stakeholders
    • Drive advocacy on sector Policy and Legislation
    • Facilitate strategic Corporate Social Investment initiatives for corporates and employees
    • Gain access to talent and skills from a pool of Black professionals
    • Networking and exposure opportunities for corporations

ABSIP Connect App

The recently launched ABSIP Connect Web App has been upgraded with new features added. Our members can now join various ABSIP Chapters and groups through the Networks menu option. In addition, the News and Articles feature has been introduced.

The ABSIP Connect platform is a Web App that you can download or install onto your desktop or mobile device home screen. Visit www.absipconnect.com and click on the ‘Download this Web App’ button to create an App icon on your device.

In addition, the ABSIP Connect platform serves as a portal for individual and corporate members to seamlessly process membership fee payments, advertise vacancies, register for events, and participate in the thought leadership network. Click HERE to access the Web App.


ABSIP is pleased to learn that the government is working hard to ensure that the loan guarantee scheme proposed in 2020 will soon be implemented. More importantly, due to the advocacy work done by ABSIP, non-bank financial institutions will now be involved in offering finance under the redesigned loan guarantee scheme.

Furthermore, the eligibility criteria and the type of financing are being adjusted to ensure greater reach. ABSIP has always held the view that the scheme needs to serve those that it was initially intended to benefit. We, therefore, share the government’s sentiment that the scheme will enable affected small businesses to bounce back from the pandemic and civic unrest experienced in 2021.

ABSIP is pleased with the announcements made by President Cyril Ramaphosa during the state of the nation address on 10 February 2022 on reforming regulation to unlock the potential of small-medium enterprises and informal businesses. ABSIP shares the views expressed by the government that “there are too many regulations in this country that are unduly complicated, costly and difficult to comply with. This prevents companies from growing and creating jobs”. ABSIP believes that reducing the regulatory burden on informal businesses will allow more participation and inclusion in the economy.

The research findings from the Township Economy Imbizo series that ABSIP facilitated last year indicate that small and informal businesses, particularly those based in the township and rural areas, are important players in economic growth and development. These businesses create jobs and contribute to alleviating poverty in South Africa.

Township businesses and rural-based businesses alike exist where 60% of South Africa’s population resides. Therefore, this reform will address challenges such as lack of funding and access to finance which are endemic for businesses in the informal economy. It is important for the government to also play a role in the ease of doing business in South Africa; we believe that reducing these red tapes will allow for the growth and development of township and rural economies.


Invitation to join the ABSIP Thought Leadership Network

Are you a thought leader or a subject matter expert in the financial services sector? ABSIP is inviting you to join our Thought Leadership Network.

ABSIP is keen to partner with researchers, subject matter experts, and research institutions to strengthen and carry out the advocacy mandate.

What’s in it for you?

    • Participate and present on your subject during local and international ABSIP events
    • Participate in the media interviews and conferences on behalf of ABSIP
    • Gain access to ABSIP membership lifestyle benefits
    • An opportunity to serve on ABSIP sub-committees
    • Get profiled on ABSIP’s flagship publications, i.e., Pinnacle Magazine/Gamechangers Black Book

Join ABSIP and partner with us as we influence and craft Policy and Legislation change towards a truly transformed financial services sector.

Click HERE to indicate your interest in joining the ABSIP Thought Leadership Network, and

    1. Sign up and create your profile on the ABSIP Connect portal,
    2. Select ‘Thought Leadership Network’ from the list reflected under the Networks menu bar,
    3. Then send a request to join the network.

Please contact Thule Mhlanga, ABSIP Regulatory and Public Affairs Officer, via e-mail to thule@absip.co.za for clarity or further information.

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