Published On: Fri, Oct 2nd, 2015

Transformation in SA financials sector celebrated

Financial service finJOHANNESBURG, (CAJ News) – THE Association of Black Securities and Investment Professionals (ABSIP) has noted the transformation the financial services in South Africa over the last 20 years.“

South Africa has a place for everybody to exist and participate in the economy of the country,” ABSIP President, Tryphosa Ramano, said.

She said the financial services sector was far stronger today, in the era of transformation than it was before, thanks to the transformation agenda driven by organisations like theirs.

“ABSIP puts pressure on the system to make sure that change does happen,” Ramano said.

The official was speaking at the Financial Services Sector Conference in Johannesburg, an event held to mark ABSIP’s 20th anniversary.

Attended by some 130 delegates, the annual conference aimed to showcase excellence in the financial services sector while engaging on pertinent issues that requires deliberation in order for organisations like ABSIP to achieve its transformation objectives.

Delivered the keynote address High Commissioner of South Africa in Mozambique, Mandisi Mpahlwa, a patron of ABSIP since 2006, said aninclusive and diverse financial sector provided the impetus for South Africa and Africa to achieve and maintain a globally competitive status.

“We are not a country that is lacking in financial resources. South Africa needs new sources of growth in order to move in a new growth plan. Beyond demographics and opportunity, what we need are institutions that are immersed in the society that it serves,” said Mpahlwa.

Nonetheless, some delegates proposed radical economic transformation to increase marginalised executives.Ramano meanwhile concurred more could still be done .

“The financial services sector has come a long way since ABSIP was established 20 years ago. What we need to understand is thattransformation is a journey.It evolves over time. It doesn’t have an end. It is absolutely crucial that we remain relevant in our endeavours,”she said.

Established in 1995, ABSIP is a lead custodian of black professional interests and black business in the financial services sector.

– CAJ News

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