GEPF Chairperson calls for SA economic makeover

The Government Employees Pension Fund (GEPF), managed by the Public Investment Corporation (PIC), is gearing up for a major economic makeover in South Africa. Dondo Mogajane, Chairperson of the GEPF, recently discussed the fund's strategy to find value and higher returns amidst slowing growth in the country with CNBC Africa. With over 2.3 trillion in assets, the GEPF is keen on partnering with the government to identify sectors that could boost the economy. Mogajane emphasized the importance of being ready for investable projects and being agile enough to seize opportunities. The focus is on infrastructure, agro-processing, and property development as key areas for potential growth and investment. The fund is also eyeing opportunities in Africa to diversify its portfolio beyond South Africa. One key theme that emerged from the interview is the GEPF's commitment to transformation and shareholder activism. Mogajane stressed the need for accelerating the pace of transformation in terms of black ownership, black management, and female leadership within the companies the fund invests in. The GEPF aims to drive change by supporting black asset managers and ensuring that investments directly impact the lives of its members. The fund is looking to allocate more resources to emerging black managers and support businesses that promote economic empowerment. Key Points: 1. Strategic Partnerships: The GEPF is focused on forming strategic partnerships with the government and private sector to drive economic growth and development. The fund is actively seeking opportunities in sectors like infrastructure, agro-processing, and property development to enhance returns and contribute to the country's prosperity. 2. Transformation Agenda: The GEPF is championing a transformation agenda that prioritizes black economic empowerment and diversity in corporate leadership. The fund is calling for increased support for black asset managers and a more proactive approach to promoting inclusive growth in the South African economy. 3. Africa Expansion: With a keen eye on opportunities in Africa, the GEPF is looking to expand its investments beyond South Africa. The fund is part of initiatives like the Pan Africa Infrastructure Development Fund and is exploring energy and power projects across the continent to diversify its portfolio and drive sustainable growth. In conclusion, Mogajane's vision for the GEPF reflects a commitment to responsible investing, transformation, and strategic partnerships. As Africa's largest fund manager, the GEPF is poised to play a significant role in shaping the future of South Africa's economy. By prioritizing growth, inclusivity, and innovation, the fund is well-positioned to drive positive change and deliver value to its members and stakeholders.