Summit Agenda

Day One

28 JULY 2021

07:30

Registration and welcoming

08:15

Opening remarks by the event Chairman

08:20

SETTING THE SCENE-OPENING PANEL DISCUSSION: THE AFRICAN PENSIONS AND RETIREMENT LANDSCAPE-THE PAST, PRESENT AND FUTURE. 
Under the theme, Reform, Resurgence and Resilience-this session will take a deep dive into the African Pensions and retirement industry from reforms and regulatory perspective, supervision and governance to coverage and investment returns. Key focus will be on key challenges and opportunities impacting the growth and development of the African pension funds industry.
PANELISTS:
GOSEGO JANUARY, CHIEF EXECUTIVE & PRINCIPAL OFFICER, Debswana Pension Fund, (Botswana)
SIMON WAFUBWA, CHIEF EXECUTIVE OFFICER, Enwealth Financial Services , (Kenya)
CUTHBERT MUNJOMA, DIRECTOR OF PENSIONS, Pensions and Insurance commission, (Zimbabwe)
OGUCHE AGUDAH, : Chief Executive Officer (CEO) , Pension Fund Operators Association of Nigeria (PenOp)
MODERATOR:
AYANDA GAQA, EXECUTIVE, GOVERNANANCE AND ASSURANCE, Eskom Pension and Provident Fund, (South Africa)

09:10

RETIREMENT FUND HARMONISATION THROUGH LEGISLATIVE REFORM: THE LATEST TAXATION LAWS AMENDMENT BILL IN SOUTH AFRICA- A WAY FORWARD OR BACKWARDS FOR PENSION AND RETIREMENT FUNDS?
This session will unpack the perspectives that led to these reforms, and provide an in-depth analysis of how it will affect the Pension and Retirement Fund industry going forward. What are the tax implications for these changes and how will they affect provident fund administrators. Is it sustainable? Has this been a reasonable move?
PRESENTER:
MR. GARETH COLLIER, DIRECTOR, Crue Invest (Pty)Ltd, (SA)

09:40

Mid-morning refreshments and networking.

09:55

IMPROVING BOARD EFFECTIVENESS AND STRATEGIC PLANNING IN A GLOBAL COVID19 PANDEMIC: WHAT SHOULD PENSION FUNDS FOCUS ON TO BUILD RESILIENCE?
The boards of pension and retirement funds need to build resilience into their strategic planning to append the impact of the Covid19 Pandemic on African pension and retirement fund approaches to portfolio management. Our speaker for this session, a Strategist and Entrepreneur at heart will unpack how the boards of pension funds can sharpen their focus on its people, operational risks and contingencies, while keeping a sight of the bigger picture which is strategy risk and resilience.
PRESENTER:
MR. SEMOLI MOKHANOI, DIRECTOR: SADC & HEAD OF BUSINESS DEVELOPMENT, Mergence Investment Managers (Sadc)

10:25

SUSTAINABLE IMPACT INVESTING- ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG): IS IT THE PANACEA FOR PENSION ENGAGEMENT? –COMBINING AND ALIGNING ESG AND MEMBER ENGAGEMENT TO DELIVER IMPROVED PENSION SUPERVISION
Investing responsibly is your choice. Research has shown that companies with a higher ESG score outperform those with lower ESG scores. Our Guest Speaker for this session is an individual that is very passionate about environmental and social impact. In this session, he will delve into key strategies you can use to truly build sustainability into your investment strategy. There is no better time than the present to redefine your organisation’s journey towards Sustainable Impact Investing.
PRESENTER:

DR. COLIN HABBERTON, COFOUNDER, THE RELATIV GROUP

10:55

CLOSING COMMUNICATION GAP IN PENSION FUNDS GOVERNANCE
The session seeks to present a communication prototype which the pension industry can utilise in order to improve communication challenges and pension fund governance. The presentation is a follow-up on my paper entitled Managing pension funds in Zimbabwe: Ethical issues and Challenges
PRESENTER:
DR. BATSIRAI W MAZVIONA, RESEARCH FELLOW, National University of Science and Technology- Zimbabwe, CONSULTANT, Analytix Risk Consultants Zambia, Founding Trustee, Centre for Risk Management and Insurance , Member of Standards Association of Zimbabwe

11:25

RISK MANAGEMENT FOR PENSION FUNDS

Pension funds face a myriad of risks from investment risks, funding and investment risks to solvency/liquidity risks etc within their portfolios . Identification, assessment, measurement and management of these risks is therefore critical across all asset classes. How can pension funds mitigate these risks, weather associated volatilities and optimise returns.

PRESENTER:
ALLAN ALLISON, CAPE TOWN REPRESENTATIVE, CAPITAL MARKETS, INVESTMENT COMMITTEE MEMBER, JSE PENSION FUND, Johannesburg Stock Exchange

12:00

PANEL DISCUSSION: FINANCIAL INCLUSION AND PENSIONS IN AFRICA
The current structure of pensions in Africa is designed to cater for the formally employed leaving thousands of informal sector workers who constitute almost 70-80% of the total workforce uncovered by any form of pension scheme. This has led to financial exclusion and inequalities in communities across the continent. How can the pensions industry in Africa expand their pension coverage and especially to the informal sector?

Highlights

  • Pension Coverage in Africa
  • Micro pensions /insurance
  • Challenges and opportunities within the informal sector
  • Innovative Product and scheme design
  • How technology can drive financial inclusion
PANELISTS:
KOFI EBA-MIEZAH POLLEY, CHIEF OPERATIONS OFFICER , PEOPLE’S PENSION TRUST GHANA LIMITED, (Ghana)
LUCAS GREYLING, CHIEF EXECUTIVE OFFICER, Rocket Insuretech , (SA)
CAROLINE TUNU, SENIOR MANAGER, Insurance/Pensions, Kenya Ports Authority, (Kenya)
ISSAKA IBRAHIM, HEAD, Metropolitan Pension Trust , (Ghana)
MODERATOR:
GOODSON KAPASO, Ag DEPUTY REGISTRAR , PENSIONS AND INSURANCE AUTHORITY , (ZAMBIA)

13:00

LUNCHEON AND NETWORKING

14:00

GOVERNANCE: WHEN GOVERNANCE BECOMES UNUSUAL – CHALLENGES OF DEALING WITH CONFLICTED GOVERNANCE STRUCTURES.
Good corporate governance is critical for the optimal performance and long-term sustainability of funds- and plays a key role in defining how boards of trustees execute their fiduciary duties. The establishment of proper governance structures is therefore imperative upon funds in achieving their goals.
Highlights
  • Pension Fund Governance Structures as defined by Law in Zambia
  • Operationalising the legally defined structures
  • Conflicts in the Boards of Trustees and suggested solutions
PRESENTER:

DR. CHIMUKA LEO HAAMUKWANZA, CHIEF EXECUTIVE OFFICER, Mukuba Pensions Trust, (Zambia)

14:45

FIDUCIARY DUTIES OF TRUSTEES IN UNCERTAIN AND CHALLENGING (COVID19 PANDEMIC) TIMES- WHERE TO FROM HERE?

Discharging fiduciary duties while navigating the current financial distress of business uncertainty caused by the Covid19 Pandemic, pension and retirement fund trustees need to be fully equipped to place unwavering commitment to the basics of fiduciary duties for than ever. Our keynote speaker for this session will chronologically advise and put forward tactics and strategies that trustees can implement to strengthen their positions in making sure the navigate these challenging times with a clear vision and purpose.

PRESENTER:
MR. LOUIS VAN VUREN, CHIEF EXECUTIVE OFFICER, FIDUCIARY INSTITUTE OF SOUTH AFRICA , (FISA)

15:15

TEA /COFFEE COMFORT BREAK

15:30

CASE STUDY: WELLNESS IN RETIREMENT: UNLOCKING HEALTHCARE & HOUSING- A KENYAN PERSPECTIVE
Highlights
  • Key challenges faced by retirees when it comes to access of quality healthcare & housing
  • Solutions available in the markets
  • Policy review & recommendations : Case study on Kenya
  • Strategies to unlock healthcare & housing whilst maintaining the recommended IRR.
PRESENTER:
SIMON WAFUBWA, CHIEF EXECUTIVE OFFICER, Enwealth Financial Services, (Kenya)

16:00

THE ROLE OF SYSTEMATIC AND TIMELY HOLISTIC FINANCIAL PLANNING TO IMPROVE MEMBER OUTCOMES

Legislatively, retirement funds have had to provide their members with services such as benefit counselling and default options. The positive impact of these interventions is already evident as more members exercise the preservation and annuitisations options available to them.

These interventions however do not spare the members from the consequences of historic insufficient provision or inadequate planning. While the above interventions are
a commendable development, what else can be done to improve member outcomes? We propose the intervention of timely individualised financial planning and will explain how in the session.

PRESENTER:
PALESA DUBE, CO-FOUNDER AND WEALTH MANAGER, Wealth Creed, (South Africa)

16:30

INVESTMENT MANAGEMENT STRATEGIES FOR INSTITUTIONAL INVESTORS- WEALTH GROWTH INVESTMENT MANAGEMENT:
Founded in 2011, Wealth Growth is an investment management business based in South Africa, authorised by the South African Financial Sector Conduct Authority, F.S.P. 46007
Highlights:
  • We manage 24 strategies:
  • Globally-All Country World, Developed Markets, Emerging Markets.
  • Regions- E.A.F.E., Europe.
  • Country Specific- Japanese, South African, United Kingdom, United States of America
PRESENTER:
BYRON HALL, CHIEF INVESTMENT OFFICER, WEALTH GROWTH INVESTMENT MANAGERS

17:00

CLOSING REMARKS BY EVENT CHAIR AND END OF DAY 1

17:30

COCKTAIL SESSION

18:30

END OF DAY 1

Day Two

29 JULY 2021

07:45

REGISTRATION AND WELCOMING REFRESHMENTS

08:30

OPENING REMARKS BY THE EVENT CHAIRMAN

08:35

KEYNOTE PRESENTATION: FUND PROFILE- ESKOM PENSION AND PROVIDENT FUND (EPPF)

The Eskom Pension and Provident Fund is one of the largest pension funds in South Africa and the Africa continent with approximately R150 billion in AUM’s and around 80,000 members.

The Eskom Pension and Provident Fund (“EPPF” or

“the Fund”) is a major asset owner in the South African economy, with around R150 billion under management. EPPF members belong to one of the largest and most robustly funded pension and benefit schemes in the country – second only in size to the GEPF. It is a self- administered defined benefit pension fund that has approximately 80,000 members (active members and pensioners).

A key measure of the Fund’s health is the funding ratio. The funding ratio is the market value of the Fund assets divided by its liabilities. The EPPF’s funding ratio for each of the last 10 years has been greater than 100% indicating a very healthy financial state. The Fund invests in various asset classes, and its investment performance is not linked to that of Eskom Holding (SOC) Limited.

Highlights:
  • Overview, Management and administration of the fund
  • Key investments and allocations across asset classes
  • Local and continental opportunities and investments
  • Investing in alternative assets- key focus on infrastructure and social impact
  • Key performance indicators and funding insights
PRESENTER:
SHAFEEQ ABRAHAMS, CHIEF EXECUTIVE & PRINCIPAL OFFICER, Eskom Pension & Provident Fund

09:20

AN AFRICAN INVESTMENT OPPORTUNITY – LOOKING AT RISK, RETURN AND IMPACT
Sinenhlanhla (Sne) Dlamini will host an insightful discussion on the opportunity for Return and Impact in listed African markets. We are seeing an investment paradigm shift from risk vs return to risk, return and impact; and this session will unpack the challenges and opportunities in Africa, not only from a diversification perspective, but also with a sustainability lens. The session will also touch on how African investments can be better supported by African Pension Funds.
PRESENTERS:
SINENHLANHLA DLAMINI, HEAD OF INSTITUTIONAL CLIENT MANAGEMENT, OLD MUTUAL INVESTMENT GROUP, (SOUTH AFRICA)
RANDOLPH OOSTHUIZEN, INVESTMENT PROFESSIONAL, OLD MUTUAL INVESTMENT GROUP

10:05

MID-MORNING REFRESHMENTS

10:20

RETIREMENT REFORMS AND ANNUITISATION: WHAT ARE THE BIGGEST CHALLENGES FACING INVESTORS RIGHT NOW?
In this session, we will hear the Zimbabwean perspective on retirement reforms and annuitisation. The Board of Directors of the Pension and Retirement fund industry face the challenging task of keeping the eye-on-the-ball when it comes to investment risks, particularly now more than ever as a result of the unexpected and sudden financial distress that the Covid19 Pandemic presented. This session will delve into the current and biggest challenges facing investors right now.
PRESENTER:
RAYMOND MANHIKA, CHIEF EXECUTIVE OFFICER, MOTOR INDUSTRY PENSION FUND, (ZIMBABWE)

10:50

PANEL DISCUSSION: SUSTAINABLE INVESTING FOR PENSION FUNDS-THE ESG DEBATE
Sustainable investing is gaining momentum globally and pension funds are no exception. There is increasing calls and in some cases policy and regulatory interventions aimed at compelling institutional investors to consider and incorporate sustainability considerations including ESG into their investment decisions. Can pension funds invest more sustainably without compromising financial returns?
Highlights:
  • Incorporating ESG considerations into investments decisions
  • Financial returns vs social impacts
  • Risks and returns
  • Real time Digital ESG tracking
  • Gender smart Investing and diversity
  • Climate risks
PANELISTS:
JANICE JOHNSTON, CHIEF EXECUTIVE OFFICER / LEAD PARTNER , Identity Fund Managers
ROBERT RUBINSTEIN, FOUNDER /CHAIRMAN, TBLI group
GERRIT HEYNS, CO-FOUNDER/ DIRECTOR, Proof of Impact
ANDREY BOGDANOV, PRINCIPAL and INTERIM CHIEF EXECUTIVE OFFICER , Risk Insights
MODERATOR:
NICOLE MARTENS, DIRECTOR, Martens Advisory and out-going HEAD OF AFRICA AND MIDDLE EAST, UNPR

11:30

INVESTMENT LOSS RECOVERY: AN OPPORTUNITY FOR AFRICAN PENSION FUNDS
When corporate fraud or misconduct is discovered and made public, often investment prices drop significantly. Then, investors lose value in their portfolios. Under these facts, it makes sense that pension funds hould have the opportunity to recover their losses. Although investment loss recovery is well established in the U.S. and Europe, strangely, it is virtually unknown in Africa. African pension funds have exposure to the global investment markets. Yet, they do not have a means to recover losses due to fraud. Investors in Canada, Australia, the United Kingdom, and throughout Europe routinely sue in U.S. courts to recover losses. African funds are “leaving money on the table ” – when they don’t have to. In this regard, Steinhoff is illuminating. The case demonstrates the need for a strategy to reclaim losses. The presentation will cover the process of investment loss recovery, whereby a fund can recover losses on a no-up front basis.
Highlights:
  • If you invest, you are exposed to fraud. Inherent in the system. Funds need a watching brief and a response.
  • Not new science. We have recovered more than $2bn in losses for clients such as BlackRock, Charles Schwab, major union funds, and the pensions funds of several counties, cities, and states.
  • NEVER the fault of the asset manager, principal officer, trustees. Fraud is hidden. Thorough due diligence will not uncover it. The alleged misconduct is with the investee company, such as Boeing or Kraft-Heinz.
  • The settlement or litigation is against a foreign company in a US court. So not offending anyone at home.
  • No up-front cost to the fund. Lieff Cabraser only earns a fee after successfully recovering for the fund.
  • Surely, there is a duty to consider recovery: when there is significant loss in the value of a fund, we will review the loss and consider investment recovery.
PRESENTERS:
KIM ROBINSON, CONSULTANT, CONSULTANT, Lieff Cabraser Heimann & Bernstein, (Johannesburg), In conversation with MICHAEL OSBOURNE, ADVOCATE OF THE HIGH COURT OF SOUTH AFRICA

12:00

PANEL DISCUSSION: INVESTING IN ALTERNATIVE ASSETS-CASE FOR ALTERNATIVES
Infrastructure, Real Estate, Private Equity & Venture Capital, Hedge Funds, Commodities etc. There is an increasing uptake of alternative assets by pension funds partly due to growing evidence of better returns as well as portfolio diversification. This session will unpack opportunities and inherent risks within these asset classes.
Highlights:
  • An overview of Alternative Investments
  • Investment opportunities within Alternatives
  • Asset allocation
  • Portfolio diversification
  • Risks, Opportunities and uptake challenges
  • Superior financial returns and social Impacts
PANELISTS:
SUNDEEP RAICHURA, GROUP CHIEF EXECUTIVE OFFICER, Zamara, (Kenya)
TANYA VAN LIL, CHIEF EXECUTIVE OFFICER, Southern African Venture & Private Equity Association (SAVCA) , (SA)
THABO MOTEA, CHIEF FINANCIAL OFFICER, Ethos Asset Management, (USA)
SALUM AWADH, CHIEF EXECUTIVE OFFICER, SSC Capital,, (Tanzania)
MODERATOR:
KABELO MOJA, CHIEF EXECUTIVE OFFICER, Ascension Capital

13:00

Luncheon and Networking

14:00

CASE-STUDY: STRATEGIC ASSET ALLOCATION STRATEGIES IN A POST-PANDEMIC WORLD: ALIGNING AND RE-BALANCING FOR POST PANDEMIC ECONOMY- WHAT COULD THIS LOOK LIKE?
Our Guest Speaker for this session has extensive wealth of experience in the investment landscape in Zimbabwe and she will highlight key strategies and tools Pension and Retirement funds can use to achieve a balanced solution towards harnessing and mobilising better returns. Although these are tough times right now, we need to look forward to a post-pandemic economy.
PRESENTER:

ELIZABETH RABVUKWA, CHIEF EXECUTIVE OFFICER: ZIMNAT INVESTMENT CLUSTER, ZIMNAT GROUP PENSION FUND

14:30

FUTURE PROOFING LESOTHO’S PENSION FUNDS INDUSTRY IN THE CONTEXT OF THE PANDEMIC AND OTHER FUTURE SHOCKS: A LEGAL PERSPECTIVE ON REGULATION 6 OF THE PENSION FUNDS (INVESTMENT) REGULATIONS OF 2020.

Lesotho is a relatively new player in modern pension funds regulation having enacted a new law in 2019 which came into effect in 2020. There is, at least, an estimated sum of M14 billion of pension fund assets under management in Lesotho and the space is dominated by South African and some international players.

 

The Pension Funds Act of 2019 positions the Lesotho Pension Funds industry to order its affairs in a manner that conforms with basic international norms regarding pension supervision, governance and compliance. Having to adjust to a new, transformative law in the midst of a major

shock such as the COVID 19 pandemic presents a unique challenge to the industry.

 

One of the outstanding features of the Pension Funds Act 2019 is Regulation 6 of the Pension Funds (Investment) Regulations of 2020 which requires 30% local investment by pension funds. The presentation will zone in on the supervision, governance and compliance aspects revolving around Regulation 6 in the context of the pandemic and future proofing that domestic investment requirement in an economy that lacks diversification and certain features that might be important to pension funds.

PRESENTER:
ADVOCATE MOTHEPA NDUMO, LAW LECTURER – Faculty of Law, National University of Lesotho, (Lesotho)

15:00

COMFORT BREAK | TEA | COFFEE

15:15

TECHNOLOGY DISRUPTION AND INNOVATIONS IN PENSION MARKET-A CASE STUDY OF NIGERIA

This session will look at how technology and digital innovations can play a catalytic role in the growth and development of the pensions industry and improving pension coverage across the continent.

Highlights:
African Pensions Landscape
  • The Brookings Institution estimates that African pension funds can invest about $11.7 billion annually in infrastructure projects.
  • In South Africa, the pension fund industry’s combined assets under management amounts to $500 billion and they own approximately 40% of the assets on the Johannesburg Stock Exchange.
  • Nigeria’s Pension Industry Asset Under Management Increased by 17.9% YoY to N12.30trn in Jan 2021.
  • Agusto Co Forecasts Nigerian Pension Assets to hit the $20trn mark by 2023
  • Total African pension fund is growing at over 30 per annum and as far as Latin America.
PRESENTER:
VICTOR BISONG, MANAGING DIRECTOR, Radix Pension Managers, (Nigeria)

15:45

Quantifying The Non-Financial Impact of Investing

Investing for impact is about more than just about the financial return achieved. But how does one measure the social (non-financial) impact of one’s investments? Can various forms of impact can be consolidated into a single measure? The presentation will focus on how one can quantify these impacts into financial measures using

Social Return on Investment (SROI). Initially conceptualised in early 2000’s for use by philanthropic organisations, it has expanded due to the need for more sustainability reporting. We show how one could use the concept in evaluating the impact of investments for institutional investors

PRESENTER:

ASIM GANI, DIRECTOR, INDEPENDENT ACTUARIAL CONSULTANTS (IAC)

16:20

PANEL SESSION: THE FUTURE OF AFRICAN PENSIONS AND RETIREMENT INDUSTRY -WHERE DO WE GO FROM HERE

This session will explore key drivers and challenges to the growth and development of the African Pensions
industry from technology, Investment strategies and asset allocations, innovation, reforms , coverage, population dynamics and policy development.

Panellists:
GOODSON KAPASO, Ag. DEPUTY REGISTRAR, Pensions and Insurance Authority , (Zambia)
ELIAS MASALILA, CHAIRMAN, DNA Economics
CUTHBERT MUNJOMA, DIRECTOR OF PENSIONS, Pensions and Insurance commission, (Zimbabwe)
SALAMATU IDRIS LSAH, SPECIAL ADVISER ON ECONOMIC AND INVESTMENT MATTERS/ EXECUTIVE SECRETARY OF THE KADUNA STATE PENSION BUREAU, Kaduna State (Nigeria)
Moderator::
VICTOR BISONG, MANAGING DIRECTOR, Radix Pension Managers, (Nigeria)

17:00

QUESTIONS AND ANSWERS FOR THE DAY’S PROCEEDINGS AND CLOSING OF DAY 2 BY THE CHAIRMAN

Day Three

30 JULY 2021

SEPARATELY BOOKABLE WORKSHOP!

HALF DAY WORKSHOP

PENSION AND RETIREMENT TRAINING WORKSHOP FOR TRUSTEES AND PRINCIPAL OFFICERS

08:00

Registration, welcome remarks and refreshments

08:45

Session 1

INVESTMENT PERFORMANCE BENCHMARKING IN A PANDEMIC:
HOW TO BUILD LONG-TERM PORTFOLIO PERFORMANCE BENCHMARKS IN AN UNCERTAIN GLOBAL ECONOMY, PARTICULARLY IN EMERGING ECONOMIES

This workshop provide insights into performance benchmarking and directly link it to investment in the pension and retirement fund industry. This will be a practical learning exercise where the presenter and facilitator will discuss and demonstrate how performance evaluations and benchmarking positively affects Fund Managers’ attitudes to risk, to motivation and to time horizons.

FACILITATOR /PRESENTER:
JAPHETH MUNYWOKI, GROUP CHIEF EXECUTIVE OFFICER, GOODSON CAPITAL PARTNERS

10:30

Midmorning refreshments and networking

13:00

LUNCHEON AND NETWORKING

11:00

Session 2

TRUSTEESHIP AND GOVERNANCE OF RETIREMENT FUNDS.

The structure of retirement funds within the Kenyan and African context. How retirement funds are governed and run by the board of trustees, the concept of delegation and being unmeasurable, how can we determine the quality of governance in a retirement fund.
FACILITATOR /PRESENTER:
STEPHEN ONDARI, FOUNDER AND PRINCIPAL CONSULTANT, ARROW FINANCIAL SERVICES, (KENYA)

12:30

Question and answer session to wrap up the day’s proceedings, and closing remarks

13:00

Luncheon and networking

14:00

End of Lunch

SEPARATELY BOOKABLE:

WINE TOUR AND TASTING AT GROOT CONSTANTIA WINE FARM:

Enjoy some wine and snacks at a relaxing afternoon wine tasting and tour with industry colleagues and peers after 3 days of conferencing and appreciate some beautiful views of the Cape Town Groot Constantia Fine Farm.

14:30

Bus departs from Radisson Blu Hotel Waterfront to Groot Constantia Wine Farm

15:00

Arrival and welcome

15:15

Wine farm tour

15:45

Wine tasting, snacks and networking

16:45

Bus departs back to Radisson Blu Hotel Vendome

17:15

Arrival back at the hotel