Mr. Stephen Munyao, the General Manager of African Management Communication (AMC) International and Editor/Head of content for the Pan-African Pensions and Retirement resource portan and the PensionsAfrica magazine, has given a thumps up to Banking on Africa’s Future (BOAF), an initiative that seeks to identify, profile, showcase and celebrate individuals who stand out as shapers of Africa’s future, as necessary and timely.
As the working population in Africa grows, the utility and relevance of the pension and retirement funds in the financial ecosystem cannot be overstated. There is no doubt that pension funds are globally significant investors, both as fiduciaries in global capital markets and in their capacity as investors in local and international development projects.
It is the case that Pension Fund Assets are divergent in their size and relevance across the continent.
It is not in dispute that Africa is comprised of a myriad and diverse cultures who aspire to make good on their retirement options by being active indirectly in the capital markets through contributions to different schemes.
“The institutional and individual capacity and competence to efficiently and effectively manage the funds already invested in the different schemes operating in Africa necessarily becomes a challenge. The real challenge is to ensure that pensioners’ funds are protected yet the reality is that very little is known in the public domain about the men and women who are managing these funds. How best can we collectively democratize the knowledge about pension and retirements administration systems without improving literacy about these individuals who remain largely unknown,” said Mr. Mawere, the Chairman of the 1873 Network that is co-promoting the BOAF initiative with the 1873 FM radio platform.
Mr. Munyao is a seasoned media and communications professional with over 15 years’ experience within Sub-Saharan Africa.
Recognizing the critical importance of the pensions industry, his chosen media focus has been on the coverage of all key and topical issues impacting pensions and retirement industry such as investments, regulatory frameworks, ESG, asset and fund management, private equity, risk and compliance etc.
In his career, he has been exposed to different roles in senior management at leading media houses with key roles in editorial, publishing, marketing, commercial management, business development and account management.
He has extensive experience working with leading brands in investments and private equity, asset management, real estate, architectural and built environment firms, sports, clothing and lifestyle, educational institutions, technology and telecommunications, media and communications, media and advertising, development organisations, governments and non-governmental organisations.
He is one of Africa’s recognized voice on the pensions industry and his skills and experience in managing marketing campaigns and events across Sub-Saharan Africa is well established.
He has been involved in key integrated marketing communications campaigns specifically in advertising, business development, publishing, events management, strategy development, writing and editing, research, promotions and brand management.
“The narrative right now is on the role pension funds should play in the socio-economic development of the continent given the massive AuMs they have amassed. South Africa alone is sitting on a R4Trillion in AuMs and the question is how to tap into these massive resources and still guarantee returns for future retirees,” said Mr. Munyao.
He also said: “Governance is another key factor key to securing a sustainable future of the industry in Africa. Incorporating ESG issues into investment decisions will be decisive. It cannot be disputed that the majority of the current set of trustees in many managed schemes have no clue on those and depend on the asset managers to make the call. There is an urgent need of a strong crusade or movement for good governance and sustainability. And accountability going forward.”
He further said that: “We need to paint a clear picture of the grim reality that awaits us from our inactivity. We need to make taking action the only option. It is for this reason that I support any initiative like BOAF as it can be a bridge to the identification of Africa’s key corporate, state and non-state actors who are driving the industry in order not only to inspire others but to build a solid and seamless foundation of a dynamic funds administration ecosystem.”