Building Capital A History of Asset Management in South Africa
How did South Africa, a country at the southernmost tip of Africa with a turbulent past and a relatively small and still-developing economy, come to house one of the most significant asset management industries in the world?
In this riveting, must-read book, Muitheri Wahome lifts the veil on the origins and evolution of asset management in South Africa, shining a brilliant, incisive light on a fascinating and little-known chapter in the country’s political and socioeconomic history. The story of the South African asset management industry is the story of how a resilient David rose to be a Goliath on the world stage, today responsible for the financial wellbeing and empowerment of millions of citizens from all walks of life—with much of this success neither preordained nor obvious from the industry’s difficult, humble beginnings.
Peopled by a cast of characters with insights as diverse and interesting as South Africa itself, Building Capital is an indispensable companion to asset management professionals both locally and globally, as well as all who serve and are served by them. Wahome’s subtle handling of her rigorously researched material and her evocation of the determination, courage, and tenacity of the South African entrepreneurial spirit not only inform but also inspire, instilling hope for the country and its uncertain future.
Need more reasons to purchase this book? Look at what others say..
“Finally, a credible and well-researched chronicle of the South African investment management industry. Wahome’s work provides great insights into the development and evolution of the industry, its impact on the economy, and the demographic transformation that gained momentum in the 1990s. Truly a worthwhile read.”
– Sello Moloko, chairman and co-founder, Thesele Group
“In this very accessible and immensely enjoyable book, Wahome traces the rise of South Africa’s asset management industry. If you are interested in the investment world, read this book. In fact, it should be required reading for anyone studying finance. To understand the present, you need to understand the past.”
– Maya Fisher-French, financial journalist, eNCA, City Press
“Penetrating, courageous, and pioneering! The first insider portrayal of the emergence and impressive development of the asset management industry in South Africa. This book is essential for ambitious young asset managers.”
– Grietjie Verhoef, professor in economic and business history, University of Johannesburg and Monash University
About the Author
Muitheri Wahome is the founder of the Asset Management Research Institute. She is a financial services professional with decades of experience and a deep interest in financial inclusion and the history and lore of the asset management industry in South Africa and beyond. After starting out as an insurance sector analyst at Barnard Jacobs Mellet, Muitheri joined Alexander Forbes Asset Consultants, where she held several consulting and investment positions until she was appointed head of the division. Wahome later joined Alexander Forbes Investments (previously Investment Solutions) as head of technical solutions, going on to serve as chief client officer of the firm. Early in her career, she developed and launched the first institutional specialist equity survey in South Africa.
Wahome has been recognised as a top investment consultant and analyst by the Association of Black Securities and Investment Professionals, the Financial Mail, and Reuters. She has been a member of the Financial Services Board Collective Investment Schemes Control Act (CISCA) advisory board and an independent expert witness to the PIC Commission of Inquiry. She holds a BCom (Hons) from the University of Nairobi and an MBA from the University of the Witwatersrand, and she completed her associateship qualification with the Chartered Insurance Institute in the UK. She is a fellow of the Africa Leadership Initiative, a trustee on the Redhill School Board, an editorial member of the publication Collective Insight, a member of the Aspen Global Leadership Network, and an investment committee member for the University of the Free State, the Nelson Mandela Foundation, and the Mandela Rhodes Foundation. She also has experience sitting on pension fund trustee boards and financial services company boards. Wahome loves art and has served as a docent at the Wits Art Museum. She currently resides with her husband and three daughters in Johannesburg.