Nedbank is the fourth-largest bank in South Africa, by asset size, providing wholesale and retail banking services, insurance and asset management. Nedbank’s headquarters are in Sandton, Johannesburg and it has branches and representative...
As the continent’s most developed insurance sector, South Africa’s insurance market accounts for some 52% of African non-life premiums. It presents fundamentals for significant growth in coming years, with insurance penetration of some 12.9%, according to global accountancy PwC. The domestic life and non-life segments rank 13th and 19th in size...
The endorsement of the National Development Plan (NDP) by the ruling African National Congress’s (ANC) Mangaung policy conference in December 2012 was an encouraging sign for South Africa’s private sector. Further, the election of one of the NDP’s chief architects, billionaire businessman Cyril Ramaphosa, as deputy president of the ANC reflected...
The fixed-income market in South Africa is by far the largest on the continent, accounting for 96% of the value of all African bonds, and it has exhibited significant growth in recent years, with the value of notes in circulation reaching about R1.4trn ($170.7bn) in 2012, up from R650bn ($79.2bn) in 2004. Around two-thirds of this total is...
A widening trade imbalance caused South Africa’s current account deficit to broaden to 6.4% of GDP in 2012, up from 4.2% in 2011 and 2.8% in 2010, and the widest since the start of the global financial crisis in 2008, when it reached 7.3%. With the services balance traditionally in deficit, deepening trade imbalances have driven the current...
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