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ABSIP hosts stockbroking summit to advance transformation


Stockbroking, that veritable link between individuals and the stock market, has for years been one of the untransformed sectors in the country. However, through a summit themed” Breaking down barriers to Transformation in the Stockbroking Industry”, the Association of Black Securities and Investment Professionals (ABSIP), hope to start a conversation towards transforming the industry.

The second Stockbroking Summit will be held at the Cape Town International Conference Centre on Thursday July 27th. “We invite all investment value chain participants to an important engagement on advancing transformation in the South African stockbroking sector,” said ABSIP President Sibongiseni Mbatha.

“ABSIP’s strategic focus has always been and will continue to be a force for transformation of the financial industry, while at the same time seeking to grow our economy on a sustainable basis. The summit is expected to be attended by retirement fund trustees, asset managers, asset consultants, advisors, industry body representatives and stockbrokers,” he said.

The inaugural summit was held in 2015, with the intention of highlighting ABSIP’s commitment to the transformation of the industry, which has been slow over the past 23 years. This year’s summit seeks to continue the conversation by having open and constructive deliberation, and find possible solutions towards the advancement of transformation in this sector.

“Whether one is working at an emerging stockbroker company or a more established international stockbroker, an asset manager or multi-manager, a consulting firm or as a trustee of a retirement fund, at ABSIP we believe we can all play a part in realising this vision of inclusivity and transformation while growing the economy on a sustainable basis” said Mbatha.

ABSIP was established in 1995 as a lead custodian of black professional interests and black business in the financial services sector.

Its membership has grown to include sub-sectors such as Asset Management, Corporate Banking, Corporate Finance, Corporate Managerial and Financial Consulting, Employee Benefits, Insurance, Investment Banking, Retail Banking, Private Banking, Private Equity, Stock broking, Treasury and Development Finance Institutions.
ABSIP has become widely recognised as an influential force in the transformation of the Financial Sector as evidenced by its participation in drafting the landmark Financial Sector Charter.

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