By year-end 2011, the South African banking sector boasted nearly 2700 branches, 10,000 ATMs and 100,000 point of sales (PoS) terminals, making for more than 10.7 commercial branches and 60 ATMs per 100,000 adults in the country, according to figures from the IMF. Yet a significant gap in access to banking services remains between well-covered...
While agents and brokers have traditionally formed the key distribution channel for both short- and long-term insurance, a rapid shift in distribution mixes has unsettled traditionally fixed market shares. As newer and smaller direct insurers have gained significant market share in the past six years, in personal motor and property lines...
While financial markets in South Africa are already considered among the best-regulated in the world, the system is about to undergo some significant changes as the country transitions to a “twin peaks” model of oversight. The new framework will split regulation into two distinct areas, prudential and market conduct, the former concerned with...
AngloGold Ashanti, with gold production of approximately 4m oz, is the world’s third-largest gold producer by production, with a presence in exploration, mining and marketing. Headquartered in Johannesburg, AngloGold Ashanti has 21 operations...
Just as a middle class has emerged in South Africa over the past decade, consumer debt has become a central feature of the retail banking market. While household wealth has risen significantly since 1994, reaching R3.5trn ($426.65bn) by 2012, indebtedness has accelerated too. By November 2012 the system counted some 19.6m active individual...
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