Company Background
A Window into the World of NBC
NBC Vision
To be the Leader in People Benefits in Africa
NBC Mission
To provide cost efficient financial services designed to meet our clients’ needs; achieved through sustainable partnerships with our clients, staff and stakeholders.
NBC Values
NBC is committed to their values of:
- Integrity
- Client Services
- Our People
- Communication
- Cost Awareness
NBC Origin
The legacy of NBC started in the early 1980’s when its founder and visionary leader, Max Maisela, began actively encouraging stakeholders to negotiate the benefits and management structures of retirement funds to ensure members’ legitimate expectations were accommodated by their funds.
At that time, many black employees were either excluded from membership of retirement funds completely or were members of employer-controlled funds that failed to cater for the unique needs of black employees in the then apartheid South Africa.
NBC aligned with emergent trade union and liberation movements and advised on how to establish a negotiated fund. A key characteristic of negotiated retirement funds is member representation on the boards of trustees; a feature that was legislated as compulsory for all retirement funds in 1996.
NBC became an independent company in 1998 as the first and only independent black owned and black managed employee benefits company.
Ten years on, NBC advises on the retirement savings of more than half a million members from more than 120 registered funds. The company’s client base includes large industry-based retirement funds as well as retirement funds of many of South Africa’s blue-chip companies.
NBC Staff
The professional, qualified staff complement of NBC is made up of around 500 people nationally.
The staff complement comprises actuaries, fund valuators, retirement fund administrators, attorneys, chartered accountants, employee benefits consultants and IT professionals.
The cultural and racial composition of NBC staff and management reflect South Africa in a microcosm, enabling the company to understand and service the needs of clients’ members in a changing environment from an informed, balanced and truly South African perspective.
The empowerment of staff and retirement fund members is a core value at NBC which is irrevocably committed to building a self-sustaining heritage in South Africa and Africa in pursuit of opportunity and prosperity for all.
NBC Independence
NBC has no ownership or shareholding tie with any life insurance companies, banks, asset managers or multi-managers.
This independence is an advantage to the company, its clients and members as it minimises potential conflicts of interest when servicing and advising clients.
NBC is an authorized financial services and credit provider (License No. 991)
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