Connect with us

Business

S’ Africa To Invest $22bn Pension Funds Abroad

Published

13 years ago

on

South Africa’s Government Employees Pension Fund (GEPF) is considering investing about  22 billion dollars outside the country to diversify its risks and some of  the investment that may go to other African countries and emerging markets.

Africa’s largest retirement fund, with a portfolio of about 150 billion dollars, traditionally has had most of its investment centred within South Africa.

But it now sees a window of opportunity of investing about 14-15 per cent of its portfolio in Africa and global markets, John Oliphant, Head of Investment and Actuarial at the GEPF, said on Tuesday.

“We are starting to expand our Africa portfolio and our global portfolio with a bias towards emerging markets…in limited capacity,” Oliphant told media on the sidelines of an industry conference in Singapore.

“In fact we have moved some of the money already.”

Oliphant said he was looking at increasing the retirement fund’s exposure to Africa to five per cent, excluding South Africa.

“In terms of the exposure…now we want to have about nine per cent exposure to global markets with a bias towards emerging markets,” he said, without giving details.

The South African pension fund, which already has an estimated 15 per cent exposure to resources via its equity investments, is now looking at possibly direct commodity investments, said Oliphant.

“The GEPF asset allocation to equities is about 50 per cent.

“If you assume that the resource sector is about 30 per cent of the JSE (Johannesburg Stock Exchange), one would argue that resources form about 15 per cent of the GEPF portfolio,” Oliphant said.

Strong infrastructure growth globally is likely to make industrial metals like iron ore and copper a more attractive direct commodity investment for the retirement fund, Oliphant said.

“So we view at the back of that demand you should have a bit of price inflation for commodities which is good for investors,” Oliphant said.

But any eventual move towards investing directly into commodities will have to be followed by a decision to lower the fund’s exposure to resources through equities.

“This is quite a large exposure to resource companies and that has always ascertained the impact on our thinking about having direct exposure to resources.

“The reason is because you don’t want to have an over-concentration of one sector in relation to the overall portfolio,” Oliphant said.

Related Topics:
Continue Reading

Business

NPA Assures On Staff Welfare 

Published

5 days ago

on

June 27, 2025

By

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

5 days ago

on

June 27, 2025

By

National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

NSC, Police Boost Partnership On Port Enforcement 

Published

5 days ago

on

June 27, 2025

By

In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
Continue Reading

Trending