The Transport Sector Retirement Fund (TSRF), a non-aligned, standalone fund with assets worth to R7.5 billion and whose shareholders are its members, has been recognised by peers as an innovative trailblazer in the industry, getting top honours at a recent awards event.
At last week's Institute of Retirement Funds Africa annual awards, the fund came up tops on governance, transformation, stakeholder engagement and education, investment practice, trustee development as well as financial management and reporting.
It has about 70,000 members, 70 percent of whom are truck drivers.
“With them in mind we have developed a responsible-investment strategy to build truck stops that ensures our members and the broader transport sector community are able to park and sleep safely and also have access to accommodation, refueling, mechanical services, primary healthcare- and appropriate nutrition facilities,” TSRF principal officer Joe Letswalo said.
He said the first of these truck stops, the Harrismith Highway Junction Truck Stop, was one of the biggest in Africa and had provided a more than 25 percent return on investment over the past 12 months. It was now one of the largest work providers in Harrismith, employing 200 locals.