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\n The transfer officially took effect in August 2026 after Absa won a competitive contract to become the GEPF\u2019s new Master Custodian, ending Standard Bank\u2019s role that dates back to the fund\u2019s establishment in 1996.
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\n The GEPF supports more than 1.2 million active members and over 565,000 pensioners and beneficiaries, making the mandate one of the largest custody appointments in South Africa\u2019s institutional investment market.
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\n According to BusinessTech, Absa will safeguard the fund\u2019s investment assets, oversee the settlement of investment transactions, manage investment-related cash and provide reporting services.
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\n It will also coordinate broader custody functions and support the fund\u2019s governance and oversight requirements.
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\n Absa expands its relationship with South Africa\u2019s largest pension fund
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\n The appointment builds on Absa\u2019s transactional banking relationship with the GEPF, which began in 2001.
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\n The bank has since provided services including cheque deposit processing and electronic banking solutions, which will continue alongside its new custody responsibilities.
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\n Absa said the appointment strengthens a relationship spanning more than two decades and reflects its institutional servicing capabilities, technology platforms, infrastructure and governance standards.
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\n \u201cWe recognise that the stewardship of Africa\u2019s largest pension fund carries enormous responsibility,\u201d said Francinah Madise, Absa CIB\u2019s Public Sector Head of Client Coverage.
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\n \u201cAt the centre of this appointment are the livelihoods and long-term financial security of millions of South African public servants, pensioners, and their families,\u201d Madise said.
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\n Absa said the change primarily concerns the fund\u2019s internal custody and operational arrangements and is not expected to directly affect the day-to-day experience of GEPF members and beneficiaries.
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\n The bank expects the new custody framework to strengthen governance, transparency and oversight of the fund\u2019s assets.
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\n Mosetsana Mahlafunya, Absa Investor Services Group Head, said much of a custodian\u2019s work happens behind the scenes but remains essential to maintaining the fund\u2019s operational integrity.
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\n \u201cOur relationship with the GEPF has developed over many years, and we have taken the time to understand its requirements to deliver the level of support and consistency the Fund requires over the long term,\u201d Mahlafunya said.
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\n The transfer gives Absa responsibility for the infrastructure supporting one of Africa\u2019s largest pools of institutional capital, while ending Standard Bank\u2019s three-decade tenure as GEPF custodian.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
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