The Financial Sector Conduct Authority (FSCA) has noted recent media reports regarding the establishment of a KwaZulu-Natal CoGTA Pension Fund for Amakhosi and denies it has approved the application.
It was announced in media earlier this week that the Department of Cooperative Governance and Traditional Affairs announced the official approval of the KZN COGTA Pension Fund for Amakhosi by the FSCA.
This structured savings mechanism is designed to support the social standing of amakhosi by providing them with financial resources upon retirement, thereby recognising their lifelong service and commitment to their communities.
However, the FSCA says the reports suggest that it has approved the registration of this fund.The Authority said it wishes to clarify that it has not received any application for the registration of this pension fund, nor has it reviewed or approved any such application.
However, the FSCA said it can confirm that Amakhosi Wealth Management (FSP 55036) was authorised on August 21, 2025 to provide financial services in respect of the following product categories: Long-term Insurance: Subcategory A and Friendly Society Benefits.
The FSCA cautions the public to verify information relating to registered pension funds or licensed financial services providers through its official website (www.fsca.co.za). The Authority also encourages all stakeholders to rely only on verified and official communication from the FSCA regarding the licensing or registration status of any entity.
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