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AFRICA MUST TRADE IN LOCAL CURRENCIES
It makes no sense that our countries still allow our economies to suffer as a result of this stupid idea of US Dollar being the world reserve currency, therefore we must at all cost trade in US Dollar on the international market at the expense of our economic prosperity and at the expense of the stability of our currencies.
Africa must trade in local currencies. Why should a Senegalese purchase US Dollar in order to be able to buy goods in Ghana or in Nigeria?
William Samoei Ruto, PhD was championing this fight but now I don't know where we are with that project. I hope he hasn't been silenced as well!
To the African Continental Free Trade Area (AfCFTA) Secretariat you need to advocate for this to happen if we really want to get the results we are looking for with the free trade area.
African Development Bank Group African Union African Continental Free Trade Area (AfCFTA) Secretariat Prof. PLO Lumumba Julius Sello Malema Amb. Abdoulaye Diop Amadou Diawara Pape Babacar THIAM
This South African investor started one of S.A’s first women-run money managers.
Meet, Fatima Vawda
The Godmother of S.A’s Money Managers.
Fatima has championed black-owned and women-run fund managers.
Spotting and investing in them before it was cool to do so.
Born in South Africa.
She grew up in Lenasia.
A little township south of Soweto.
Raised by a single mum.
Selling samosas to get by.
They lived in a matchbox house.
Fatima went to public schools.
Through primary and high school.
Only leaving home to study at University of the Witwatersrand.
After she got a bursary to study a BSc in Applied Mathematics.
Upon graduation.
She went back to Wits University.
And did a Masters in Computational and Applied Math.
She started her career as a lecturer.
Teaching Applied Math at her alma mater.
As the only woman in the Math department.
She left academia 2 years later.
Dropping out of a PhD.
In her quest to get practical skills.
She joined Standard Bank Group’s treasury department.
At a time when Wall Street and financial markets.
Were employing people with analytical skills.
Because of the growth of the derivative markets.
Fatima soon began trading derivatives.
And pricing portfolios.
She left Standard Bank Group to join Mercury (later sold to Peregrine Holdings Limited).
A stockbroking and advisory firm.
Where she worked as a quantitative analyst.
Developing investment ideas and pitching them to fund managers.
In 2002, she left Peregrine to join WIPHOLD.
A black women-owned investment company.
Where she led a fund of funds.
Investing in black-owned and women-led fund managers.
In 2007, when WIPHOLD decided to become a passive investor.
And pulled out of operating companies.
Fatima decided to go out on her own.
Starting 27four Investment Managers.
After seeing a gap in the market.
For black asset management incubators.
With about $1,080 in savings.
She got a deal on office space in the basement of a hotel.
And the rest is history.
And today, 27 four is one of S.A.’s biggest women-owned multi-managers. It
📈 Manages over $6+ billion in African and global public and private funds.
👑 Invested in 60+ black and women-owned asset managers managing $55+ billion
🏆First in S.A. to start a Diversity, Equity and Inclusion Asset Manager Program in 2007.
27 four was the 1st investor in leading investment firms like MAZI ASSET MANAGEMENT, Aeon Investment Management (Pty) Ltd., Sentio Capital Management.
Fatima sits on the board of Association for Savings & Investment South Africa (ASISA) and Financial Sector Transformation Council.
What are your thoughts on Fatima’s story?
Let me know in the comments. 👇
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