GEPF Intends to Drive Change in Financial Sector via R2.7-trillion Funds

In a bold and strategic move, the Government Employees Pension Fund (GEPF), the largest pool of retirement savings in Africa, has announced its plan to use its mammoth R2.7 trillion in assets to transform the financial services sector.

This transition will be underpinned by the GEPF's newly adopted transformation policy that frames a roadmap for the evolution within the sector. The strategy centres on promoting the growth of black-owned businesses and development of entities within the financial sector such as asset managers, private equity fund managers, fixed income asset managers, auditing firms, actuaries, and other nascent financial services providers.

Simultaneously, the pension fund is primed to direct a higher portion of its investments towards companies and enterprises, thereby bolstering broad-based black economic empowerment (B-BBEE). This move, empowering black-owned businesses, and amplifying B-BBEE, signals GEPF's commitment towards driving significant and sustainable changes in the financial services sector.