ASI financial services retains outstanding BBBEE credentials

By: ASI corporate communications

ASI Financial Services (‘ASI’) is proud to announce that it has retained its Level one (1) Broad-Based-Black-Economic Empowerment(‘BBBEE’) contributor status for 2017, under the new BBBEE codes under the Financial Sector Charter (‘FSC’) criteria. ASI is the first of the major consulting brands in South Africa to achieve this level of accreditation.

BBBEE is a Government initiative aimed at addressing the inequalities faced by black South Africans in participating fairly in the economy. As a wholly owned black business operating in the Financial Services Industry mired by transformation challenges, ASI is extremely proud to retain this outstanding B-BBEE status.

This is attributed to the concerted effort by ASI’s management team in procuring services from locally empowered businesses, a significant investment into skills development of black financial advisors and the company’s firm belief in empowering women and its employees through broad based ownership. The company’s continuous investment in Community upliftment and Social Investment initiatives had also contributed to retaining its level one accreditation.

The development and expansion of black home-grown consulting businesses in South Africa has had its fair share of challenges due to anti-competitive conduct by the more established players in the market, of which most are traditional global white owned businesses. ASI being the fastest growing advisory business in the country was one of the businesses subjected to this type of market conduct over the last five years, however, due to its resilience and commitment to the transformation agenda and the support of the Competition Commission, ASI has grown into South Africa’s largest black owned independent Corporate Financial Advisory firm.

“Radical Economic Transformation means we need to address the imbalance of our society through True empowerment and not just support the black elite of the country. This means job creation, financial literacy and skills development to the millions that depend on social grants. Empowerment in South Africa goes far beyond the BBBEE codes and a score card. The fact is that the millions of our fellow countrymen and women are living in squalor, and this number is on the increase. We must redouble our efforts to create a sustainable economic participation model, which creates opportunities for all South Africans and improves the overall state of the country. We need to stop the capture of South Africa’s resources and help take our country back! We need to focus on building the wealth of our nation and changing lives” Says ASI’s CEO, Mr. Anthony Govender.

ASI would like to thank its clients and the South African government for sharing in its vision and continuous support in making it all possible.

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