South African’s are notorious for not saving enough, at best we save about R1 out of every R10 which is why Gradidge-Mahura Investments (GMI) has taken on the challenge to change this mindset.
At the helm, Craig Gradidge and Kagisho Mahura set out, over a decade ago, to break that mould, driven by their vision to improve financial literacy and enhance access to investment deals that benefit South Africans across the race, age and social spectrum.
“South African’s do not have a saving mentality and we set out to change that,” says Kagiso. “If we want to change our country, we have to be able to service a wider spectrum of clients. So, we are very passionate about training young South African’s to become fully fledged financial advisors and planners so that they will be the one’s in the future to create better investors for South Africa as a whole.”
Set within the context, Mahura says that statistics indicate that the average South African financial adviser is 52, white, Afrikaans and male…but the market is changing. “Today’s market is young, black and professional and we felt we needed to get in and start changing the conversation.”
Today, they head up a flourishing wealth management firm that went from managing R10million with an emphasis on young black professionals in year one, to an impressive R950million today, with a diverse and eclectic spectrum of clients attracted by their strong focus on relationships and value creation.
“At GMI we were quite deliberate in trying to do things differently to the way anybody else has done before that we were aware of,” says Mahura.
“So, the way we structured the business is that the client sits at the centre. Everything we do, the obvious question is always, is it good for the client? It’s got nothing to do with what’s good for the advisor or good for the business because we know, if it’s good for the client eventually it’s going to be good for the business.”
GMI is one of the companies highlighted by local producer Shani Kay in #SAINC, a 20-part series airing on local TV channels and across social media throughout the year with the objective of changing the narrative in South Africa, and highlighting and celebrating the country’s successes and achievements.
Kay wants to help South Africa step closer to its true potential, and believes she can help shift negative attitudes by sharing stories about the role of business in the strategic delivery of global goals to positively impact the lives of real people.
She, like Gradidge and Mahura, supports an authentic approach to black economic transformation in South Africa as opposed to the unequitable version that has delivered the “BEE barons” of the years since democracy.
“We are starting to see many innovative business models and inclusive solutions that are delivering both profitable returns and societal value in synergy. And that’s essential if we want to achieve sustainable transformation rather than continue wrestling with a degenerating business environment in which profit will be increasingly difficult to make,” Kay stressed.
View video: https://regency.global/gradidge-mahura/
Gradidge-Mahura Investments are also actively working towards changing the narrative around the notion that mattress banking is the best banking, and are passionate about improving financial literacy in the country.
ETV: Sunday 26th May at 12h00
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