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Mazwai hopes to teach people to save for retirement

By unknown | Oct 29, 2007 | COMMENTS [ 0 ]

Xolile Bhengu

Xolile Bhengu

A decision by Andile Mazwai to leave Barnard Jacobs Mellet Securities (BJM) after three years as an equity sales trader, found him later returning as head of the company.

Mazwai has been chief executive officer of BJM for four years. His own company, Mazwai Securities, holds 10percent ownership of listed BJM Holdings.

He also holds a nonexecutive director and two member positions on the JSE.

Mazwai says he recruited 11 of the country's best black professionals to specialise in researching market impacts of government monetary and fiscal policy. Amongst its accolades, Mazwai Securities was a co-manager in the listing of Telkom.

"It was a commercial decision to start up the company. I supplied a scarce commodity of black intellect which had a high demand," he said.

Mazwai studied for a BComm honours degree, but once he realised the career was not what he thought it would be, he abandoned his master's studies halfway.

"I want to be part of the engine that runs the business. Things have changed today, but back then accountants were people that came to count the money after the fact."

Mazwai says stock broking has provided him with excitement, an opportunity to perfect his entrepreneurial skills and a chance for him to develop his love of numbers.

He is passionate about change and hopes to promote a culture of saving.

He says the provision of investment opportunities such as Telkom's Khulisa and the National Empowerment Fund's Asonge Share Scheme are crucial.

Mazwai says black peoples' mindsets are changing to a belief in the future.

"More people are realising that one day they will be pensioners and will have to live on the savings they put away today," he says.


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