Black ownership on the up in savings and investment sector

South Africa’s life offices and asset managers registered an improvement in black ownership in 2020, with both exceeding the Broad-Based Black Economic Empowerment targets set in terms of the Amended Financial Sector Code. This is according to the first ever transformation report published by the Association for Savings and Investment South Africa , titled ‘The Journey Towards Transformation of South Africa’s Savings and Investment Industry as represented by Asisa .

” Read: Black ownership of SA businesses falls below 30% Government is failing to comply with its own empowerment policies Room for improvement Despite registering some gains during the period, life offices and asset managers failed to meet their targets in the management control, skills development and employment equity categories. Life offices failed to meet their target in the access to financial services category .

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BLACK ECONOMIC EMPOWERMENT: Savings and investment industry’s transformation on track, but it can’t rest on its laurels – Asisa reportLeon Campher, the outgoing chief executive of the savings and investment industry body Asisa, says while there has been a steady improvement in the transformation of life offices and asset managers, the report also shows that more remains to be done.
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Black managers in investment, life insurers far below targets - but ownership exceeds goals | Fin24Life insurers and asset management firms have surpassed their black ownership targets. But they are critically below where they should be on black management and employment equity. | Fin24 Fin24 If you can't do the job you can't get the job. Most people in SA probably also don't trast a blcak person telling how to invest their money. Fin24 Those taking their policies are the ones to blame Fin24 I have always hated Bitcoin and thought it was a scam until a friend referred me to Allison_Grillo, I made my first withdrawal of R100,000 in 2 weeks thanks to Allison_Grillo.
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