“Money makes the world go round”, a quotation from the musical Cabaret, 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.
While there may be very little that you can personally do about it, remember for a moment the unacceptably large percentage of our population who are not included in our economy, to whom providers of financial services would be a meaningless term.
This page is a look at some institutions behind the provision of financial services in the country.
Southern African Venture Capital and Private Equity Association (SAVCA) – Wondering where to find capital to expand your business? SAVCA provides a comprehensive and well-structured directory which lists the details and investing preferences of all members and associated members of the association. Find details at www.savca.co.za.
Absa Find the notes about the AgriBusiness Team, and the AgriBusiness range of products and solutions at www.absa.co.za. See also www.absa.africa.
Access Bank https://southafrica.accessbankplc.com
Bidvest www.bidvest.com
CAPITEC www.capitecbank.co.za
First National Bank www.fnbagricomms.co.za and www.fnb.co.za
Land Bank – see notes under the “State owned development banks and agencies” heading.
Nedbank AgriBusiness Ltd Find the notes on Nedbank AgriBusiness on the website, www.nedbank.co.za.
Rand Merchant Bank www.rmb.co.za
Sasfin Bank www.sasfin.com
WesBank www.wesbank.co.za
See also the “Regional/province-specific role players” heading.
Development Bank of Southern Africa (DBSA) www.dbsa.org
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. See www.ffc.co.za.
Industrial Development Corporation (IDC) www.idc.co.za
Regional offices:
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 www.landbank.co.za
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.
The National Treasury www.treasury.gov.za
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.”
See the “Agribusiness” page. Companies like AFGRI, Kaap Agri, OVK and VKB offer credit, insurance and other financial services.
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:
See the “Co-operatives” page.
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.
See the “Accessing government incentives” heading on the “Consultants” page.
See websites listed earlier on this page.
Some articles:
