The Institute of Retirement Funds Africa (IRFA) informed members of the association’s growth, sustainability and innovation at its virtual Annual General meeting held last week.
President Enos Ngutshane informed members that significant gains in membership, programming and service had been recorded since the previous AGM. Despite the unsettling times presented by the Covid-19 pandemic and the need to reshape its annual conference onto a virtual platform.
Ngutshane noted the industry body’s resilience in quickly adapting to and leveraging technology in the face of the pandemic. The IRFA has presented webinars on key issues, hosting its annual Best Practices Industry Awards gala online and enhancing its outreach to members and the industry on social media and other electronic platforms. He noted that these initiatives have been very well received and will form an integral part of the member service package going forward. “The use of virtual platforms and technology will also enable us to extend our educational and communication outreach north of our borders on a larger scale,” he says.
Financially IRFA as a not for profit organisation has navigated the storms, largely as a result of cost cutting initiatives, reduction of debtors, management of cash in hand, enhancements to its member service package and growth in membership.
Ngutshane also noted that the current board members’ term will end on the 19th January 2021 and that electronic elections will be held in November 2020 using an electronic election tool. “Members in good standing are thus invited to nominate incumbents for the new board members who are committed to industry growth, the wellbeing of the members of retirement funds and society at large.” He emphasizes. “IRFA remains steadfast in its belief that the retirement sector contributes significantly to financial education and socio-economic development.”
In closing the President also noted that IRFA will be holding online conferences in both November 2020 and March 2021. He says “the 2020 IRFA virtual conference will assemble participants and speakers that will be raising tough questions and assist in providing guidance on how to bring meaningful changes in our sector. Climate change and global warming are likely to be the biggest challenges of our century, while digitization, globalization and geopolitical environment are transforming the financial sector and the way we do business.”
“The Institute of Retirement Funds Africa will continue to provide support to this crucial sector of our economy well into the future, through support in terms of advocacy, education and developmental initiatives among other services” he concludes.