Brotherhood of Hope – a Visual Eulogy to Icons

Throughout history, there have been inspirational leaders that have meant different things to different people. Quite often, they have changed a nation and created a legacy for their country, ideologies of change and a sense of purpose for the people.

 

Some of these leaders are rare, and have become heroes to their nation. When you think of Abraham Lincoln; John F Kennedy; Dr Martin Luther King Jr.; Mahatma Gandhi; Nelson Mandela and Barack Obama – they have become symbols of hope and largely recognised as international icons.

 

This may be the reason why artist Jonathan Brews decided to include these icons in a painting that he created in  2009. The painting, called ‘Brotherhood of Hope’, was recently donated to Strate by John Pickering, an IT Consultant from Incentage.

 

To the artist’s surprise, he said in a note, “The painting had been completed almost five years prior to the death of Nelson Mandela. It was inconceivable at the time that the last living person in my painting would be delivering the eulogy at the passing of the 2nd last living member of the group. As the youngest member in the group, and given President Obama’s deep respect for Madiba, it was in a way a personal triumph insofar that these two global icons should have inadvertently come together on the global stage, in my backyard so to speak.”

 

Brews chose the seven subjects of this painting for reasons that were recorded in the commentary he wrote regarding the painting and its philosophy. At the time of its completion President Obama had just been inaugurated, and along with Nelson Mandela, they were the only two living subjects contained in the painting.

 

“In the most moving and powerful obituary, President Obama paid tribute to Nelson Mandela at the memorial  service held in Johannesburg, South Africa. It was even more surprising that contained in his eulogy, in comparing the magnificent life of Nelson Mandela, he drew example from other revered leaders form history.

Incredibly, President Obama’s speech made reference to: President Abraham Lincoln; President John F Kennedy; Dr Martin Luther King Jr. and, Mahatma Gandhi,” added Brews.

 

He explained how he was watching one of the seven great people contained in his painting, eulogising the only other living person in the painting at the time of its completion. “And in the first three minutes and forty-five seconds of his speech President Obama drew direct reference to four other of the extraordinary men assembled in this work of art.”

 

Below is an image of the painting that can be viewed at Strate’s offices.

 

 

 

Strate Charity Shares Charity Spotlight

The Topsy Foundation empowers families and communities to improve the care and protection of all children made vulnerable by the HIV and AIDS epidemic. It is one of the charities that has been a beneficiary of Strate Charity Shares (SCS), a non-profit company that allows investors to donations of small or large amounts of their odd-lot shares to charity.

 

A number of years back, when clients’ portfolios were unbundled, they were consequently left with little holdings of shares that they couldn’t sell, as the cost was too high to do so. Also, company share registers are filled with these odd-lot share holdings that are costly for issuers to maintain. To trade these shares, the paper securities also needed to be dematerialised by the investors, who seldom chose to convert their shares into electronic form and would rather store the paper certificate at their homes.

 

A solution is for clients to give their shares to charity by contacting Strate Charity Shares, either directly, or through their broker, to donate their shares. They can also receive a tax benefit for doing so. In terms of Section 18(A) of the Income Tax Act, when investors donate their shares to Strate Charity Shares, they are issued a receipt that can be claimed against their taxation liability.

 

The total amount that Strate Charity Shares has distributed since its inception in 2002 is over R3 million, and charities that have historically been included as the recipients of these donations are African Children’s’ Feeding Scheme; Salesian Life Choices; The Bethany House Trust; Child Welfare Tshwane; Topsy Foundation and Cotlands.

 

Charity Spotlight: The Topsy Foundation SCS helps the Topsy Foundation achieve its goals, enabling it to build capacity in community-based projects by empowering families to improve the care and protection of all children made vulnerable by the HIV/AIDS epidemic.

 

The Foundation provides food parcels, school uniforms and other essential items to those in need on a monthly basis. Individual and community vegetable gardens are also established. Academic monitoring and assistance is provided for pre-schools, primary schools and high schools and it strengthens the economy of families through beadwork and sewing skills training.

 

It offers paediatric support groups, adult support groups and individual counselling sessions, while its trained professional nurse and community health care workers assist with home-based care services. The medical officer and other trained medical staff also assist with x-rays, sonars, growth monitoring and HIV counselling and testing. In addition, the organisation provides medical male circumcision services and cervical cancer screening services.

 

SCS is a convenient way to support charities, such as The Topsy Foundation, to carry out the wonderful work within the community. If you wish to donate your shares to SCS, please call the Strate Charity Shares toll-free helpline on 0800 202 363 or +27 (0)11 870 8207 if you are phoning outside South Africa.

Alternatively, you can email charityshares@computershare.co.za.

 

 

Collaboration Theme Overarches Financial Industry

The interconnectedness of financial markets has shown us that we live in a truly global economy.

 

From history, we can bear witness to events that have occurred in one market, which have had repercussions on others. The world today still feels the ripple effects of the US sub-prime crisis.

 

With calls for more safety and investor protection met by heightened regulation, many players in the South African financial market are singing from the same song sheet to harmoniously improve the ways things are done for the benefit of the country.

 

At a conference held at the Gordon Institute of Business Science (GIBS) in Johannesburg, which was hosted by Strate and the Payment Association of South Africa (PASA) during August, keynote speakers from regulators to banks were communicating messages of collaboration:

 

“We need more honest conversations to understand what is good and bad [for the market],” said First National  Bank (FNB) CEO Jacques Celliers. Supporting this, Ingrid Goodspeed, the Chief Director of Financial Sector Development at National Treasury said, “We need a safer financial sector to serve South Africa better.” Goodspeed added that the market had to consider four priority areas to achieve this, namely financial stability; market conduct; access to financial services and combating financial crime. 

 

The lessons from the Global Financial Crisis have taught the industry that the need to restore stability and confidence is a market imperative for the greater good of not only the financial system itself, but also its reputation as a whole.

 

According to Monica Singer, “collaboration must be forming the collective conscience of the financial industry, because each institution in the market is interrelated and the market is interconnected with other financial markets globally.” She focused on Strate’s core purpose, which is to mitigate risk and bring efficiencies to the post-trade environment in South Africa. Strate works together with the stock exchange, regulators, custodian banks, issuers, business partners and other stakeholders to achieve this purpose and bolster the resilience of the market.

 

Keynote speakers in the morning sessions of the conference focused largely on technologies that were helping to meet regulatory reforms, greater demands for efficiencies, risk mitigation, as well as driving innovation in the market. Celliers said that he thinks regulation shouldn’t kill innovation in the market, but rather enable it.

 

Another keynote speaker, Stafford Masie, had a captivating discussion about the opportunities around technology and innovation. Masie described how the models are changing and that the future of technology is not more technology.  It is when it decimates, it becomes more relevant, and becomes more prolific everywhere. “When you got lost, you had the map book in the car. Google, Garmin and Tom Tom came along and there was no longer the notion of touching a book. You can now enter coordinates into a machine to tell you where you are and how to get somewhere adequately. What’s the future of Google Maps? More Google Maps? No, it’s the Google autonomous vehicle – it’s when the blind person gets into the car and closes the door and tells the car where to go, and gets there safely…”

 

“The opportunity of technology is not technology; it is humanity and understanding humanity. [Companies] don’t create great products and services, [they must]  create ecosystems where people from the outside can make your business better,” he said, adding that while collaboration was good, it was also about co-creativity and understanding how to move forward with businesses that understand humans. 

Conference Overview
The primary objective of the conference was to create a platform to discuss latest trends, tackle critical constraints and turn them into new opportunities in the current challenging economic environment.

 

The speaker line-up and topics included:

  • Jacques Celliers, CEO, FNB: Game-changing strategies, challenges and new opportunities;
  • Ingrid Goodspeed, chief director of financial sector development, National Treasury: Protecting financial networks – Systemic risk and the national payment system; 
  • Monica Singer, CEO, Strate: Aligning CSD with financial markets infrastructures – Transformation, impact and opportunities;
  • Prof Jackie Young, UNISA: Operational risk appetite – Strategic balancing act;
  • Adv. Clive Pillay, ombudsman for Banking Services: Customer’s perspective: Setting standards to achieve optimum results;
  • Stafford Masie, founder, Thumbzup: Digital clash of civilisations; and
  • Graeme Holmes, PASA council chairperson: Mobile banking and money: Whole new world.

Update on International Roadshow

Strate, together with the JSE, hosted its international roadshow in London during September 2014. The event, which was held at the London Stock Exchange, focused largely on South Africa’s Markets and updates pertaining to the activities of the country’s Central Securities Depository and the Stock Exchange.

 

In her presentation to clients, Strate CEO Monica Singer highlighted aspects of South Africa’s success story and also provided an overview of Strate and its projects. This was followed by an update from the JSE, where Brett Kotze as the Head of Operations: Clearing & Settlement at the JSE provided information about the stock exchange’s T+3 project for equities, which aims to shorten the settlement cycle from five business days to three  business days.

 

The session concluded with a panel discussion among members of the South African Market’s Infrastructure and the Custody Business represented by RMB, Standard Bank, Société Générale, Citibank and Standard Chartered Bank. Singer moderated the discussion.

 

To obtain a copy of the Roadshow Presentation, please email info@strate.co.za.

 

 

Club Aimed at Recognising Women on Boards Launched

The 30% Club Southern Africa, of which Monica Singer is a founding partner, was formally launched on 11 September 2014. It is aimed at assisting organisations in recognising the business case for bringing more women onto South African boards. The idea for the 30% Club came about in May 2010 and was quickly supported by two Chairmen – Sir Roger Carr of Centrica and Sir Win Bischoff of Lloyds Banking Group – who had declared their commitment within hours of the idea being floated. The 30% Club was formally launched in  the UK in November 2010.
In 2011 Lord Davies came out with his report “Women On Boards”, which highlighted the slow rate of progress with regards to gender diversity on the boards of listed companies on the FTSE. Women made up just 10.5% of FTSE 100 board members and 6.7% of those in the FTSE 250 during 2010. The formation of the Club in the UK underpinned the change required at board level; The Women on Boards 2013 report revealed that women secured 34% of all FTSE 100, and 36% of FTSE 250 board appointments since 1 March 2012.

 

Following a successful launch in the United Kingdom in 2010, the initiative is broadening its reach and encouraging companies globally – from the US to Hong Kong – to achieve a minimum of 25% female representation on their boards by 2015. While the report “Women on Boards” called for a 25% representation of women on boards in the FTSE 100 companies by 2015, a growing number of chairman, senior executives and senior partners have committed to a voluntary figure of 30%.

 

In South Africa, efforts are underway to achieve similar results. Not only has the country now got its own 30% Club, but there is also a draft Women Empowerment & Gender Equality Bill that calls for 50% gender representation (in its current format) on all decision-making structures.
The aim of the 30% Club Southern Africa is to allow organisations to publically commit to achieving 30% gender diversity within a specific time frame and assist organisations to comply with the legislation in an effective business manner. It intends to engage in dialogue with corporates, local ans international organisations, investors, executive search companies and academia to chart the correct course for  southern Africa taking into account international best practices. To read more about the club, visit: https://www.30percentclub.org.za/

Accelerating Entrepreneurship Amongst Learners

According to Youth Enterprise Development Strategy 2013 – 2023, the youth constitute 41,2% (14 to 35 years) of the South African population, but the number of young people involved in entrepreneurial activity remains extremely low at 6% of the total youth population.

 

There is no doubt that accelerating entrepreneurship among young people will have a positive impact not only on the social platform of bringing equity in the economy, but also by raising the levels of the overall economic indicators of South Africa.

 

To help the government achieve its mandate to accelerate entrepreneurship, Strate has become a sponsor of a Valued Citizens Initiative called iValue, which is an entrepreneurship programme that gives 20 grade 10 learners from Kwena Molapo High School near Lanseria a foundation of business management and entrepreneurship.

 

Since the launch in April 2014, learners have been empowered to understand and apply entrepreneurial knowledge, skills and principles in their entrepreneurship projects, as well as identify viable entrepreneurial opportunities within their school communities.

 

In a report, iValue said that the programme has shown notable progress in terms of changing the attitude of the learners. iValue said it firmly believes that the lessons focused on entrepreneurial character have prepared its learners both emotionally and mentally to deal with the content of entrepreneurship. It said, “We are convinced that the iValue Programme will reach its objectives by ensuring that learners become solution orientated, creative thinkers, responsible and able to manipulate entrepreneurial opportunities within their school community.”

 

The report also referred to a session in the programme where learners got the opportunity to interact with second year Entrepreneurship Students from the University of Johannesburg (UJ) and focus on the role of Emotional Intelligence and Self-Leadership in Entrepreneurship.

 

It said, “UJ students brought the practical aspects of the two as they are currently involved in entrepreneurship activities in their day-to-day lives as part of their practical lessons. They emphasised the fact that Emotional Intelligence in entrepreneurship is non-negotiable, as one is required to knock at different doors every day and interact with different people.”

 

Bringing both energies (university students and grade 10 learners) together was really revitalising. “Our beneficiaries believed that in order to run a successful business, one needs to work first to gain extensive experience to sustain the business. On the other hand, the second year entrepreneurship students firmly believe that joining the workforce is optional, but one can run a successful business straight away after completing his/her studies,” the iValue report added.

 

Looking ahead, the learners can be expected to continue building their foundation of knowledge about business management and entrepreneurship. Next year, each individual will have to present their business plans, five of which will be chosen to receive start-up capital that they will have to pay back at the end of the year.

 

 

Empowering Youth to be Financially Savvy

South Africa’s government has highlighted financial education as one of the components of a comprehensive solution for empowering consumers to engage with financial services.

 

A 2013 financial literacy study prepared for the FSB reads , “It seems that young people in South Africa are inexperienced with regard to financial products, probably owing to their limited access to financial resources and their lack of a regular income.”

 

To support national efforts to educate consumers, particularly the youth as the next generation of consumers to come, Strate has partnered with the Financial Services Consumer Education Foundation to provide financial  literacy to attendees of the SAICA/Thuthuka Winter camps. Over 1000 Grade 12 learners attended the camps that provided additional support in mathematics, basic accounting and life skills. Information about savings and budgeting, financial planning, rights and responsibilities, as well as financial recourse mechanisms available to consumers were among the topics presented at these workshops.

 

Taking into consideration that the youth of today are the economic contributors of tomorrow, the importance of educating them to be financially savvy cannot be underestimated. According to Leigh Bevis, Strate’s head of Stakeholder Relations, financial literacy empowers them to manage their finances, providing them with the tools to improve their life and financial wellbeing, as well as contribute positively to economic growth.

 

“It can be easy for a school learner to lose his or her way with debt and finances when leaving school. People who have a lower degree of financial literacy tend to lend more and experience difficulty with debt, which may lead them to save or invest less – ultimately accumulating less wealth for their families. Their understanding of t he terms and conditions of financial products, such as their home loans, bank accounts or credit cards, may even lead them to pay more in fees related to financial products. Giving them the understanding of budgeting, saving, the difference between how to spend money wisely rather than recklessly, as well as retirement can re-shape their lives and transform the economy’s growth,” she explains. 

 

The FSB 2013 Financial Literacy Report revealed that South Africa has a financial literacy level of 54 out of 100. According to the 2014 second quarter PPS Professionals Confidence Index (PCI), which was conducted among approximately 3 000 of SA’s graduate professionals, a confidence level of just 38% was recorded when respondents were asked how confident they were that the general public in South Africa has a good understanding of financial matters, such as budgeting, saving, retirement and insurance. 

 

“Financial literacy among the youth has the potential to paint a very different picture. Strate is very passionate about the upliftment of financial literacy in South Africa. It partners with key stakeholders, such as the Financial Services Consumer Education Foundation, an independent Trust, founded by the FSB in support of its Consumer Financial Education initiatives. This ensures that we can work together with the financial market to make a real difference to South Africa and improve the lives of our children, as well as our children’s children,” concludes Bevis.

 

 

Old Mutual Changes Share Registrars

In an announcement to the market on 26 August 2014, Old Mutual said it was changing its share registrars to Link Market Services in South Africa as follows:

 

CHANGE OF SHARE REGISTRARS
Old Mutual plc (the Company) is changing its share registrars from Computershare Investor Services to Equiniti Limited in the UK and to Link Market Services in South Africa with effect from 1 September 2014. No change is being made to the registry agents who act as intermediaries for the local sub registers in Malawi, Namibia and Zimbabwe. Communications will be sent individually to shareholders in all territories over the coming weeks to inform them of changes to their shareholder reference numbers and any other actions they may be advised to take.

 

Contact details for the new registrars in the UK and South Africa are as follows:

 

UK
Equiniti Limited
Aspect House, Spencer Road
Lancing
West Sussex, BN99 6DA
Tel: 0871 384 2030 or +44 121 415 7047
Website: https://www.shareview.co.uk

 

South Africa
Link Market Services South Africa (Pty) Ltd
13th Floor Rennie House, 19 Ameshoff Street
Braamfontein, 2001
(PO Box 10462, Johannesburg 2000)
Tel: +27 (0)86 140 0110
Email: oldmutualenquiries@linkmarketservices.co.za
Website: https://investorcentre.linkmarketservices.co.za

 

Further information about the new registrars and related shareholder services can be found in the Shareholder Information section of the Company’s website at www.oldmutual.com.

Fourth Wired Women Conference a Crucial Platform for Aspiring Tech Leaders

Adapted from a media release issued by QualityLife Company

 

“Companies across Africa are experiencing the innovation and collaboration that talented female leaders are bringing to the workplace. We are currently in an exciting phase as the business world adapts to the impact that  these tech leaders bring to a range of industries. It’s time to come together to explore new ways of encouraging  innovation, diversity and collaboration as Africa continues its steady rise on the world stage.”

 

So says Debby Edelstein, CEO of QualityLife Company, organisers of the Wired Women Conference that took place in Johannesburg on 23 October, which Strate was once again proud to sponsor.

 

“After a long association with QualityLife, Strate was pleased to once again sponsor the Wired Women Conference. Events of this nature bring together businesswomen to discuss not only the future of technology but, more importantly, the ways in which we can bring more women into this growing industry,” says Monica Singer, CEO of Strate. 

 

Delegates to the fourth annual Wired Women Conference had the opportunity to hear first-hand insights from some of the top female and male technology and business leaders on the African continent. “We have recently seen a surge in mentorship by experienced tech leaders to the rising female stars on the continent. Women are talking about diversity, change and the impact they make in their organisations,” Edelstein says, adding that the conference connected more of the country’s rising female and male technology stars and unlocked new opportunities for collaboration and knowledge – sharing.

 

The one-day conference featured a range of keynote presentations and panel discussions with some of the most recognisable names in the technology field, including Enyonam Kumahor, regional managing director  of ThoughtWorks, which was nominated as Best African Company of 2013; Professor Barry Dwolatzky, director of the Joburg Centre for Software Engineering and Dr Miriam Altman, Head of Strategy at Telkom.

 

“Staying true to the vision of creating a platform for tomorrow’s rising stars, the conference also featured a number of up-and-coming female technology leaders who are making an impact in their organisations.”

 

Panel discussion themes at this year’s conference included: 

  • Creating a culture of innovation;
  • Tech Startup: Who Dares Wins; and
  • Best Tech tools for marketing your business and career.

Strate Selects TCS BaNCS for Multi-Asset Class Depository Operations

Strate has selected TCS BaNCS for its equity and money market depository operations, further expanding the strategic relationship it has with TCS. Strate is also replacing its current bond system with TCS BaNCS for Market Infrastructure.

 

Boosting Strate’s leadership status in the market, this engagement reinforces the long-standing relationship that TCS has had with Strate as a trusted IT solutions partner. This solution will provide Strate with the ability to adopt multiple settlement models across asset classes, along with a flexible framework to cater for market-specific requirements designed to maximise settlement efficiency. In line with global trends, the solution will also provide comprehensive support for both nominee and beneficial ownership account structures.

 

Monica Singer, CEO of Strate, said that she has always maintained that Strate’s success has been built on collaboration and key strategic partnerships. “Since its inception over 15 years ago, Strate has been able to create one of the most advanced and highly rated CSDs in the world by partnering with global market experts, such as TCS. TCS custom-built Strate’s equities system in 1998, as well as our money markets technology again in 2009. This partnership has now moved to the next level with the selection of the TCS BaNCS for Market Infrastructure, which will help us expand and grow our services with an even faster time to market in the future and enable us to explore other products and services that are being provided in other countries that are using the same technology. It will also introduce greater benefits to our market, where they can enjoy a streamlined service across all asset classes, as three systems will be consolidated into one. The benefit thereof is that fewer systems will need to be supported and CSD Participants will have fewer interfaces to maintain.”

 

R. Vivekanand, Vice President of TCS Financial Solutions, said, “TCS has played a key role in the evolution of the settlement infrastructure and STP processes in the South African market, with Strate at its pivot. This new engagement enables us to provide a single solution across all asset classes handled by Strate, thereby increasing agility, ability to handle more products and reducing the total cost of ownership. We value our strong relationship with Strate, and look forward to helping Strate enhance its leadership position among the CSDs in the world.”

 

N. Ganapathy Subramaniam, President of TCS Financial Solutions, said, “TCS has been a key player in the South African market for more than a decade now. We are very proud of our work for Strate and the significant majority of the CSD Participants in the South African market, who use our market-leading TCS BaNCS platform. The selection of TCS BaNCS at Strate further upholds our commitment to the market in alignment with the strategic direction of our customers.”