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At the end of 2004, South Africa finds itself with a more
mature banking sector, a moderate level of private-sector
indebtedness, and a respectable and first-rate regulatory
and legal framework. South African banks are well managed
and utilize sophisticated risk-management systems and corporate-governance
structures in conducting their business.
South Africa’s banks are regulated in accordance
with the principles set by the Basel Committee on Banking
Supervision.
South African customers have online, real-time, nationwide
access to bank accounts 24 hours a day, everyday of the
year. South Africa’s political transformation, together
with the relaxation of exchange controls and the liberalization
of African economies, has resulted in South Africa becoming
an increasingly important world financial center. South
Africa is also now well positioned to provide global services
through the international offices of her banks and the presence
of international banks in South Africa. .
Press
Xinhua General News Service
South
Africa welcomes foreign banks' entry
December 14, 2004
South African central bank governor
welcomes foreign banks to his country, saying they would
increase competition among South African banks, benefiting
consumers. He also said that mergers between these banks
will be discouraged.
Africa News
South
Africa; Community Reinvestment Bill to Await Outcomes of
BEE Discussion
August 7, 2003
Cabinet is waiting for the outcomes
of discussions on the Black Economic Empowerment Charter
for the Financial Sector before enacting the Community Reinvestment
(Housing) Bill. The Bill sets targets that are to be met
by financial institutions, indicating whether they are complying
with set obligations for community reinvestment or not.
Business Day (South Africa)
Mzansi
customer numbers beat forecasts
Stephen Gunnion
February 10, 2005
Africa News
South
Africa; Own Your Home? Prove It!
June 13, 2004
A study released this week in
South Africa reveals that banks could lend to more low-income
earners if they had title to their homes and that the government
itself is doing little to create an environment in which
it would be safe to lend to low-income citizens. The feeling
in South Africa is that prescriptive legislation exemplified
by the Department of Housing's proposed (but now defunct)
Community Reinvestment Bill - which could have forced banks
to make housing loans to township dwellers - could have
had disastrous systemic risk consequences for South Africa's
private-sector banks.
BuaNews (South Africa)
Premier
Opens New Absa Branch
February 9, 2005
Moneyweb
MZANSI
CLIENTS ROCKET
Chris Nthite
February 9, 2005
Business Day (South Africa)
Postbank
dresses up for new markets
Khulu Phasiwe
August 31, 2004
Business Day (South Africa)
Charter
impasse threatens to freeze banking-for-all plan
Rob Rose
August 30, 2004
Business Day (South Africa)
SACP
sees red over workers' absence from pension board
Ernest Mabuza
November 22, 2004
Sunday Times (South Africa)
'Cheap'
debit card for the unbanked pulls them in
Richard Stovin-Bradford
November 21, 2004
FinMark Trust
FinScope
South Africa 2004: media release
November 19, 2004
Business Day (South Africa)
Voucherless
airtime on the cards Simpler system geared to Africa's conditions
Greg Gordon
November 2, 2004
The Banker (United Kingdom)
Barclays'
South African Bid Provides A Litmus Test - South Africa's
Market Potential Lies In Extending Services To Poorer, Unbanked
Areas, So How Will A Foreign Bank Fair In This Environment?
November 1, 2004
Business Day (South Africa)
FNB
Bank Charges On Mzansi Account to Stay
October 28, 2004
Business Day (South Africa)
Banking the Unbanked: Mzansi a Solution Or a Setback?
October 28, 2004
Sunday Times (South Africa)
Absa
certainly won't be painting the town red
RICHARD STOVIN-BRADFORD
October 24, 2004
Financial Times (London, England)
SA
takes banks to the townships: Banks are responding to laws
aimed at correcting South Africa's racially skewed financial
sector, writes John Reed
JOHN REED
October 12, 2004
Legislation
Banking
law
HOME
LOAN AND MORTGAGE DISCLOSURE ACT 63 OF 2000
“Low-cost
housing watchdog waits for rules,” February 4, 2004
Contact
Regulatory Contact
Reserve Bank of South Africa
Bank Supervision Department
370 Church Street West
Pretoria 0002 South Africa
Fax: 27 12 313-3197 / 27 12 313-3929
INTREL@gwise.resbank.co.za
Web: www.reservebank.co.za
NGO Contact
Morgan Pilay
Isle of Houghton - Parktown
South Africa
2711-644-9930
morganp@nhtc.co.za
morganp@telkomsa.net
Highlights
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South
Africa 