Providers of financial services

Introduction

“Money makes the world go round” is a saying with which most of us are familiar. It is not literally true, of course, but does point to our heavy reliance on money and financial services.

This page is a look at some role players behind the provision of financial services in the country. Their websites can be seen by clicking on the listings (see Table of Contents or scroll down to the bottom of the page).

 

Role players

Business Listings

The following business listings are provided for informational purposes only. Agribook does not endorse or guarantee any of the listed businesses, their products, or services.

Education and training

  • BANKSETA The Sector Education Training Authority (SETA) for Banks
  • FASSET Financial and Accounting Services SETA
  • INSETA The SETA for the insurance sector
  • South African Institute of Chartered Accountants (SAICA)

Associations

Consumer recourse: who can help you?

  • Council for Medical Schemes If there is something bothering you about your medical scheme … 
  • The National Financial Ombudsman (NFO) has the Ombudsmen for short-term insurance, long-term insurance, banking and credit as members. 
  • The Ombudsman for Short-Term Insurance, an independent body which may be able to assist you if your insurer refuses to pay e.g. for damage to your vehicle. The service is free to insured consumers. You must complain to the insurance company first, and only if you are unable to resolve the dispute with your insurers, then you can refer the matter to their offices. The Ombudsman’s decisions are binding on the insurance company, but not on you. 
  • The Ombudsman for long-term insurance mediates in disputes between insurers and policy holders (life assurance). 
  • The Ombudsman for Banking Services 
  • Credit OMBUD 
  • For investment problems, talk to the Financial Sector Conduct Authority (FSCA). 
  • The FAIS Ombud deals with “complaints against financial institutions, which do not fall within the jurisdiction of any other ombud scheme or where there is uncertainty over jurisdiction”. 
  • National Consumer Commission 
  • For debt counselling problems, but also for disputes that are not resolved by the Credit Ombudsman, speak to the National Credit Regulator (NCR). NB Only credit grantors that are registered with the NCR may grant credit. 
  • The Fiduciary Institute of Southern Africa (FISA) is a self-regulating body for matters such as wills, trusts, estate planning. 
  • Pension Funds Adjudicator 

Other financial bodies and associations

  • Actuarial Society of South Africa 
  • Alternative Investment Management Association (AIMA) 
  • Association of Black Securities and Investment Professionals (ABSIP) 
  • Association for Savings & Investment SA (ASISA) www.asisa.org.za
  • Banking Association of South Africa
  • Financial Intermediaries Association of Southern Africa (FIA) 
  • Financial Planning Institute of Southern Africa (FPI) 
  • Financial Sector Conduct Authority (FSCA) 
  • Institute of Bankers in South Africa (IOBSA)
  • Institute of Retirement Funds of South Africa (IRF) 
  • National Stokvel Association of South Africa (NASASA) 
  • South African Insurance Association (SAIA) 
  • South African Savings Institute (SASI)
  • South African Underwriting Managers Association 
  • Southern African Venture Capital and Private Equity Association (SAVCA) 

Banks

  • The Banking Association of South Africa is the industry body for banks. 
  • BankservAfrica is the “automated Clearing House that provides interbank electronic transaction switching and settlement services”.
  • Prudential Authority c/o The Reserve Bank – responsible for regulating banks, insurers, cooperative financial institutions, financial conglomerates and certain market infrastructures.
  • The South African Banking Risk Information Centre (SABRIC) was established to assist the banking industry to combat organised crime.    

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Find the following bank entries under the listings (see the Table of Contents to the right, or scroll down to the end of the page): ABSA, Access Bank, African Bank, Bidvest, CAPITEC, Discovery Bank, eNL Mutual Bank/WYBN, Finbond Mutual Bank, First National Bank (FNB), Nedbank, Rand Merchant Bank, Standard Bank and WesBank. 

The new digital banks — GoTyme Bank, and Bank Zero 

State owned development banks and agencies

See also the “Regional/province-specific role players” heading.

Development Bank of Southern Africa (DBSA)

The Financial and Fiscal Commission (FFC) makes recommendations to Parliament, provincial legislatures, organised local government and other organs of state on financial and fiscal matters. 

Industrial Development Corporation (IDC)  

IDC finance is for entrepreneurs in the agricultural, food, beverage and marine sectors wanting to expand and develop their businesses. The minimum financing is R1 million. An economically viable business plan must be submitted.

Land Bank

The Land Bank’s objectives are food security, bringing those from a previously disadvantaged background into agriculture, and developing commercial farming in South Africa. Regional contact details are available on the website and on the “Finance for new farmers and SMMEs” page.

Read about various government institutions, grants and incentives on the “Finance for new farmers and SMMEs” page. These include The Jobs Fund, which “is targeted at established companies with a good track record and which plan to expand existing programmes or pilot innovative approaches to employment creation, with a special focus on opportunities for young people.”

Regional / province-specific

Eastern Cape

  • Amathole Economic Development Agency
  • Coega Development Corporation Eastern Cape Development Corporation (ECDC)  Branches in Mthatha, Komani, Gqeberha, Aliwal North, Butterworth and Graaf-Reinet
  • Eastern Cape Rural Development Agency Key programmes are crops, livestock, forestry, renewable energy
  • Imvaba Eastern Cape Provincial Co-operatives Development Fund c/o ECDC 
  • InvestSA Eastern Cape Joe Gqabi Economic Development Agency
  • Ntinga OR Tambo Development Agency  

Free State, Gauteng and KwaZulu-Natal

  • Free State Development Corporation (FDC)
  • Gauteng Enterprise Propeller Satellite offices in Soweto, Ekurhuleni, Tshwane, Bronkhorstspruit, West Rand, Mohlakeng, Sedibeng and Heidelberg
  • Gauteng Growth and Development Agency (GGDA) 
  • InvestSA Gauteng
  • Ithala Development Finance Corporation  Ithala has presence across KwaZulu-Natal, from Izingolweni in the south to Qotho in the north. The website provides contact numbers and addresses for all branches.
  • Lejwe Le Putswa Development Agency (LDA)
  • Trade and Investment KwaZulu-Natal
  • Tshwane Economic Development Agency (TEDA) 

Limpopo, Mpumalanga and the North West

  • Limpopo Economic Development Agency (LEDA) has offices across Limpopo. 
  • Trade and Investment Limpopo (TIL) 
  • InvestSA Limpopo
  • Mpumalanga Economic Growth Agency (MEGA) 
  • North West Development Corporation Branches in Mmabatho, Lehurutshe, Ganyesa, Mothibistadt, Taung, Temba, Rosslyn, Mogwase, Rustenburg and Klerksdorp

Northern Cape and Western Cape

  • Cape Agency for Sustainable Integrated Development in Rural Areas (CASIDRA)
  • Western Cape (WESGRO)

Agribusinesses

See the “Agribusiness” page. Companies like AFGRI, NWK, OVK and VKB offer credit, insurance and other financial services.

Embassies and foreign financial support

Find details of foreign embassies and high commissions in South Africa at https://dirco.gov.za.

Some international role players with a presence in Southern Africa:

  • Afreximbank
  • The Agence Française de Développement Group (AFD) 
  • AgFunder, the “world’s largest community of professional agriculture investors”
  • Australian Council for International Development (ACFID) 
  • DAI Capital 
  • Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH 
  • European Development Fund 
  • Delegation of the European Union to South Africa 
  • Finmark Trust 
  • FMO – Dutch Entrepreneurial Development Bank 
  • Foreign, Commonwealth & Development Office (FCDO) 
  • German Development Bank
  • Holistic Agri Investments Africa (HAIG) 
  • International Fund for Agricultural Development (IFAD) –Find details of all the other UN agencies at work in South Africa at https://southafrica.un.org/en/about/un-entities-in-country
  • Luxembourg Agency for Development and Co-operation 
  • New Development Bank (the BRICS bank) 
  • Norfund 
  • Proparco  Climate, environmental, developmental finance
  • Rabobank 
  • Savannah Fund
  • Sweden International Development Agency (SIDA) 
  • Swiss Agency for Development and Co-operation (SDC) 
  • International Chambers of Commerce also involve themselves in making investments. Refer to https://iccwbo.org.
  • The South African National Treasury can provide information about Official Development Assistance (ODA) to South Africa.

Co-operatives

See the “Co-operatives” page.

Companies

Find the “Finance and administration” heading on the “Consultants” page, and the separate page on agribusinesses. See “Digital agriculture” for providers of financial software packages.

 Several large global players work from South Africa, using this country as a springboard into Africa. Examples are HSBC and Citibank and international traders Archer Daniels Midland, Bunge, Cargill, Louis Dreyfus and Noble. Various groups offer agricultural equipment finance at cheaper rates tha banks e.g. John Deere and Barlowrand.

  • Acorn Agri & Food
  • Agricultural and Industrial Marketing Company Securing trade and finance instruments from banks, finding logistics solutions for communities, project management and more.
  • ANDISA Agri Numerous services include finance raising; debt, equity and grants; and managing “change of control” transactions and land reform transaction advisory
  • ATRIA Trade Investments
  • Bosch Holdings  
  • Capital Harvest 
  • CertiSure 
  • Clarmondial 
  • Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries
  • Dream Team Capital 
  • Fairfax Africa Holdings
  • Fedgroup 
  • FIO Capital
  • Futuregrowth Agri-Fund invests mainly in equity investments in agricultural land, agri-businesses and farming infrastructure.
  • KOYA Capital funds startups in Agri Tech / Ag Tech that originate from universities
  • Nisela Capital 
  • Old Mutual 
  • Phatisa Group Limited 
  • PwC South Africa Specialist services for agriculture
  • Santam Agri 
  • Uzanzele
  • VEA Agri & Tourism
  • Zaad Holdings 

See the “Accessing government incentives” heading on the “Consultants” page.

Websites and publications

See websites listed earlier on this page.

Finance and Farm Management (7th edition). Available from Standard Bank at www.standardbank.co.za/southafrica/business/products-and-services/business-solutions/industry/agribusiness

Some articles:

Table of Contents

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