The Government Employees Pension Fund (GEPF), Africa’s largest pool of retirement savings, wants to use the might of its R2.7-trillion in assets to push for the transformation of the financial services sector.

The fund has adopted a transformation policy and strategy it says will support the transformation of the sector by encouraging the development of black-owned asset managers, private equity fund managers, fixed-income asset managers, auditing firms, actuaries and other emerging financial services providers. It will also direct more of its investments to companies and enterprises that advance broad-based black economic empowerment (B-BBEE)...

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