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Financial Institutions, Services, Industry Bodies, Traders and Structures

Further reading on the financial sector at the FSF Bookshop, e.g. Marcia Milton Cornett, Fundamentals of Financial Institutions Management.

Keep Abreast of ...

The new Financial Sector Forum Website

The new Financial Sector Forum at http://www.financialsectorforum.com consolidates two existing websites: The existing Financial Sector Forum at http://www.finforum.co.za (here) and South Africa: Financial Institutional Structure at http://reservebanksa.blogspot.com. This action was necessitated by a lack of funding.

Recent posts on the new Financial Sector Forum website include:
Nedbank: Producer Price Inflation
Absa: House price indices
Nedbank Weekly Economic Monitor
Absa: SA Morning Sheet – daily economic comment
Nedbank: Consumer Inflation
South Africans richer since 1994
Gordhan: SA needs to create jobs
Nedbank Weekly Economic Monitor
Absa: SA Morning Sheet – daily economic comment
SACCI Trade Conditions Survey
Stop the Afro-pessimism, says Zuma
Amid the Africa hype, a contrarian view
Nedbank: Mining production
Nedbank: Manufacturing production
Jitters over global pace of recovery roil markets
IMF World Economic Outlook

This site also links to sister website, The Financial Regulation Forum at http://www.financialregulationforum.com

The Financial Regulation Forum Website

Recent posts on the new Financial Regulation Forum website include:

: Banks: Telling Strength From Weakness
: Global Financial Stability Report
: Implementation of stress testing practices by supervisors
: Enhancing the contribution of external audit to financial stability
: New centre to tackle major economic challenges
: Developing Tools for Dynamic Capital Supervision
: BoE Payment Systems Oversight Report
: IMF World Economic Outlook
: Inertia and Coordination Problems in Payment Networks
: Towards a Financial Transactions Tax?
: Basel III implementation
: PM urged to defend City over EU rules
: Bernanke college lecture series: Testimony of the the Fed on regulatory reform
: A Long Road to Regulating Derivatives
: QE is ‘decisively working’ say CBP panellists
: Barriers to Change in the Financial Sector

The Financial Institutions, Industry Bodies section is organised as follows:
Topical comment
Banking sector
Financial markets
Insurance sector
Pension and provident funds
Financial sector - general
Government
BEE; Small, medium, and micro enterprise sector
Other institutions
Topical

Financial institutional structure

Following recent statements by the ANC and its Alliance partners, we wish to facilitate discussion on the South African financial system and its institutional infrastructure - Treasury; Reserve Bank; Financial Services Board; banks, etc.; monetary policy; regulation; stability; payment systems; and nationalisation.

What are co-operative banks?

The government is getting ready to open a new front for small banks in South Africa as it puts the finishing touches to the rules and regulations that will apply to so-called "co-operative banks".

Co-operative banks are meant to formalise the world of credit unions (group savings and lending schemes) and larger stokvels, which currently operate in a regulatory vacuum provided by an exemption from the Banks Act (under which all manner of sins from pyramid schemes to outright theft have taken place).

There will be at least 10, which are operating as credit unions and must now register as co-operative banks.

Small banks have a torrid history in South Africa. In 2000, there were 40 banks after an expansionary push to introduce some competition in the industry. It all ended in tears, culminating in the collapse of Saambou and (nearly) BoE in 2002. Now there are 20 registered banks, of which five are locally-owned small banks, including Capitec and Sasfin. Will the new co-operative banks lead to another explosion of small banks? The answer is no. The rules are so restrictive one wonders whether anyone would really want to run a co-operative bank.

There are various tiers of these types of banks. The first one is for co-operatives of 200 or more members with at least R1-million in deposits, but no more than R20-million. These banks can then put their cash into a handful of allowed assets: big formal banks, FSB-registered collective investment schemes (like unit trusts), and government bonds.

They can also put their money into a higher tier of co-operative bank which has at least two co-operative banks as members (which can have more than R20-million in total deposits). Some will choose to make loans, subject to strictly defined lending policies with accounting rules for bad debts, but others will be savings-only banks.

There are also strict rules for capital levels, limits to the size of any one loan or deposit, and a whole supervisory and development framework (the national Treasury will look after the first tier, the Reserve Bank the larger ones) has been established to regulate the new animals.

So here's where the scepticism starts. [...]

Read more: Business Times 

Banking sector

SA Reserve Bank - The South African Reserve Bank
  Describes the South African Reserve Bank, the central bank. The Bank regards its primary goal in the South African economic system as "the achievement and maintenance of financial stability".The Bank deems it essential that South Africa has a growing economy based on the principles of a market system, private and social initiative, effective competition and social fairness.  It recognises, in the performance of its duties, the need to pursue balanced economic policies that enhance both development and growth.
Directors of the Bank.
More on financial stability and monetary policy.

For a comparison of some central banks see South Africa: Financial Institutional Structure.

National Treasury - Co-operative Banks Development Agency
The Co-operative Banks Act, No 40 of 2007 (the Act) defines a co-operative bank as a co-operative registered as a co-operative bank in terms of the Act whose members – 1. are of similar occupation or profession or who are employed by a common employer or who are employed within the same business district; or 2. have common membership in an association or organisation, including a business, religious, social, co-operative, labour or educational group; or 3. reside within the same defined community or geographical area. The Act seeks to create a development strategy and a regulatory environment for deposit taking financial co-operative institutions. The supervisor within the Co-operative Banks Development Agency has the authority to exercise the powers and perform the functions conferred on the supervisor by or in terms of the Act in respect of primary co-operative banks that hold deposits of less than R20 million and more than R1 million and has 200 or more members.

June
2009

FinMark Trust - FinMark Brief: The Banking Inquiry  (PDF)
  A review of the inquiry panel’s report to the Competition Commission and its potential impact on poor South Africans’ access to finance
The report of the banking inquiry makes a number of important recommendations which, if implemented, will have an impact on financial inclusion in terms of innovation and cost reduction. The structure of retail banking encourages large institutions which can benefit from economies of scale, given the high proportion of fixed costs involved. But to ensure that they have a constant motive for offering competitive pricing and improved efficiency, the inquiry proposes greater transparency for customers on the pricing of products, as well as lower barriers to switching banks. In addition, the existing players in the payments system – Pasa, the banks and the card associations – should facilitate access for small banks and even non-banks, so that these can offer certain non-deposit-taking services, such as e-money for payments and remittances. The report focuses on the way prices are set, rather than their levels, as in the case of the interchange fee for debit and credit cards. ... more

June
2008

SA Competition Commission - Banking Enquiry Report: Executive Overview
  Banking Enquiry Panel report makes recommendations for a more competitive banking sector
The Competition Commission released the Executive Overview and recommendations made by the Banking Enquiry Panel, established in August 2006, to examine the level and structure of bank charges and access to the retail banking sector in South Africa.
  The Financial Services Board - The Financial Services Board
  The Financial Services Board (FSB) is a unique independent institution established by statute to oversee the South African non-banking financial services industry in the public interest.  The FSB's mission is to promote sound and efficient financial institutions and services together with mechanisms for investor protection in the markets it supervises.
A
list of those industries regulated is provided.

February
2005

SA Reserve Bank - Institutional Sector Classification Guide for South Africa

A guide for the sector classification of issuers and holders of securities, recipients and suppliers of credit, and buyers and sellers of existing financial and real assets.
The South African Reserve Bank collects financial data, in respect of the major institutional sectors from financial institutions such as banks, insurers and pension funds, as well as from other organisations such as public corporations and local authorities. This information is used inter alia for analysing the flow of funds between sectors, establishing which sectors require which types of financing and which sectors provide in these particular needs. Due to the numerous individual organisations and persons that are economically active, it is necessary to make meaningful groupings or sector classifications of the parties involved.

SA Financial Sector Forum - Directory of Banks
 

A directory or links to directories of registered banks, banking associations, development banks and related organisations that maintain a presence in South Africa.
For bank branches and branch codes, Bankserv provides a bank Branch Address search facility and a full list can be downloaded.

March
2007

PricewaterhouseCoopers - Initial Perspectives on Strategic and Emerging Banking Issues in Key African Markets
After developing and sponsoring nine surveys on banking in South Africa, this is the first PricewaterhouseCoopers survey, which also covers banking in the rest of Africa, being Egypt, Francophone West Africa (Sénégal and Côte d’Ivoire), Kenya, Nigeria and South Africa. This survey has been developed by PricewaterhouseCoopers and Dr Brian Metcalfe and is based on those previously conducted in South Africa. ... more

January
2007

Ernst & Young - Banking Confidence Index
Banks continued to significantly tighten credit standards during the fourth quarter of 2006, a trend which started at the beginning of the year. Despite this raising of credit standards, all banks reported they remain satisfied with current business conditions. ... more

September
2005

National Treasury/South African Reserve Bank - Competition in South African Banking (PDF) (2,9 MB)
The Draft Task Group Report for The National Treasury and the South African Reserve Bank - Competition in South African Banking - completed in April 2004, is now being made available to the public. The comprehensive study focuses on competition in banking in general and retail banking in particular. A grey area between the retail and wholesale financial markets is the market for small and medium enterprises (or SMEs). Small businesses, and micro enterprises particularly, are similar to retail business, while larger medium-sized businesses are closer to the corporate market. Accordingly only the smaller SMEs are discussed in this study. The chapters cover:
Competition and profitability: A broad overview International comparisons of competition and profitability
Economic concentration 
Simulation: Revenue, costs and competitiveness of banks
Simulation: The possible role of second- and third-tier banks
The payment system and competition
Banking services to the unbanked
Retail offerings to low- and high-income individuals
Banking services for small and medium businesses
Disclosure and corporate governance
The legislative and regulatory environment
The way forward: conclusions and recommendations

Further research has been conducted, see below.

April
2006

South African Reserve Bank - National Payment System Vision 2010
The first vision for the National Payment System, was provided in 1995, This updated vision contains strategic guidelines for the national payment system. Entitled Vision 2010, the document provides high-level strategic guidance for stakeholders, such as banks and non-bank participants, as new and complex challenges face the national payment system and its stakeholders.
The Vision addresses many of the issues raised in the report of the Competition Commission, below, released at the same time.

April
2006

Competition Commission - The National Payment System and Competition in the Banking Sector
The report presents a comprehensive analysis of the national payment system (NPS). It reveals that the South African NPS is a highly efficient and sound system and perhaps more advanced than similar networks in more economically developed countries. But an efficient and sound system may nevertheless lack features which would make it also fair to consumers. The report raises a number of concerns in this regard, and provides some pointers.

The Banking Association South Africa - The Banking Association South Africa
The Banking Association South Africa (formerly the Banking Council) is the representative voice of banking in South Africa. Its members include foreign, retail, merchant, investment and commercial banks. Its role is to "establish and maintain the best possible platform on which the banking groups can do competitive, profitable and responsible banking". Comments and submissions on regulatory changes, legislation, consumer concerns and policy documents, as well as research and study into best international practice, are core strategic activities of The Banking Association.

March

The Banking Association South Africa - Code of Conduct on Credit Extension (PDF)
The Banking Association today unveiled a Code of Conduct to address the public’s concern about being harassed and inconvenienced by people selling credit, and about forceful overselling of credit. The Code was agreed to by all the major consumer lending banks after weighing up the concerns of the public against their commitment in terms of the Financial Sector Charter to provide easier access to credit.

Ombudsman for Banking Services - Ombudsman for Banking Services
The Ombudsman for Banking Services (OBS) provides consumers and banks with a quick resolution to solving banking related complaints. This service is free to consumers.
The OBS is an independent and impartial body that reports to the Board of the OBS, not to the banks.
South African Banking Risk Information Centre - SABRIC
The strategy of SABRIC is to provide bespoke clients and partners with crime risk information and liaison services to support the fight against crime. They will differentiate ourselves by the ability to align research and decision support capabilities with clients’ requirements, and by being able to understand and accommodate varied and diverse organisational needs.

The Banking Sector Education and Training Authority - BANKSETA
BANKSETA supports and grows the level of current and future skills needed in the banking sector. BANKSETA, does this by making Sector Grants available for projects that contribute directly to the development of priority skills. There are currently more than fifty projects running in the sector. The most prominent is the R78 million BANKSETA/National Skills Fund Micro-Finance Skills Project whose objective is to build professionalism amongst the Micro Finance Institutions (MFIs) through skills development interventions. Another project is the Investors In People project - a global standard that recognises organisations that are committed to people development and which acknowledge that an emphasis on people development actually enhances their business.
The Institute of Bankers in South Africa - The Institute
The Institute of Bankers in South Africa was established in 1904 with the objective of providing education to the industry in the widest sense.
Through a Council of senior executives it remains in touch with industry needs. Focus groups at different levels within the industry enable it to access the needs for new programmes as well as ensuring the continuing relevance of existing curricula and diplomas.
The Institute is part of a world-wide association and is a founding member of the Alliance of African Institutes of Bankers.
FinMark Trust - FinMark Trust
FinMark Trust was created in March 2002 with initial funding from the UK’s Department for International Development (DFID).
The mission of FinMark Trust is summarised in its slogan, “Making Financial Markets Work for the Poor”. In pursuit of this objective, FinMark Trust aims to promote and support policy and institutional development towards the objective of increasing access to financial services by the un- and under-banked of southern Africa (South Africa and the SACU countries, Botswana, Lesotho, Swaziland and Namibia).
In 2002/3, FinMark Trust has a strong preference to support smaller, narrowly defined projects, on which it is possible to assess progress and outcome relatively quickly as a basis for possible further action, rather than large, multi-year projects.
  SA Reserve Bank - Directory of Authorised Dealers in Foreign Exchange 
  A directory of those organisations authorised to deal in foreign exchange in South Africa in terms of exchange control regulations.
SA Post Office - Postbank
  Postbank, a division of the SA Post Office, is a deposit-taking institution but is not a fully fledged bank. Its mission is to establish a financial institution for the mass mobilisation of savings and investment funds from the broad community by making available accessible payment and savings services through post offices and other outlets. Such funds are reinvested at low risk and an acceptable profit margin.


Financial markets

  The Financial Services Board - The Financial Services Board
  The Financial Services Board (FSB) is a unique independent institution established by statute to oversee the South African non-banking financial services industry in the public interest.  The FSB's mission is to promote sound and efficient financial institutions and services together with mechanisms for investor protection in the markets it supervises.
A
list of those industries regulated is provided.

The South African Institute of Financial Markets - The SAIFM
The primary objective of the Institute of Financial Markets is to enhance the professionalism of participants in the financial markets industry. The activities of the Institute include inter alia:
- providing a facility to improve and evaluate the ability of market participants;
- assisting the South African financial markets in setting minimum "fit and proper" standards;
- promoting ethical behaviour for market participants; and
- enforcing membership quality by setting industry entrance standards and devising and applying a code of conduct for members.
The Financial Planning Institute - The FPI

The FPI is a representative, professional institute for testing, protecting, developing and maintaining standards of competence and ethics of persons engaged in personal financial planning. The Institute is responsible for promoting the competence and ethics of its professional members to consumers who require personal financial advice. The FPI is authorised to issue the Certified Financial Planner (CFP) licence to its professionally qualified members.
Members of the public can find out about inter alia financial planning, the financial planning process and finding a financial planner (or financial adviser, financial broker) in their area.

  JSE Limited - The JSE
  The JSE Limited (JSE), formerly the Johannesburg Stock Exchange, is the only equities exchange in South Africa.
It was founded to enable the new mines and their financiers to raise funds for the development of the fledgling mining industry. Today, the majority of the companies listed are non-mining organisations. The exchange fulfils its main function - the raising of primary capital - by rechannelling cash resources into productive economic activity. 
The Beginners Guide to the JSE inter alia gives the history, role, structure, operations and trading characteristics of the JSE.
The South African Futures Exchange - SAFEX
The JSE Securities Exchange owned South African Futures Exchange (SAFEX) is the exchange for trading listed futures and options on futures contracts.
SAFEX seeks to provide a secure and efficient market for trading derivatives in South Africa.
  The Bond Exchange of South Africa - Bond Exchange of South Africa
 

The Bond Exchange of South Africa (BESA) is an independent Financial Exchange, operating under an annual licence granted by the country’s securities market regulator, the Financial Services Board. BESA is responsible for regulating the debt securities market in South Africa. Debt securities are issued by central and local government, public enterprises and major corporations. The debt securities listed by BESA are: fixed interest bearing bonds with a single redemption date; fixed interest bearing bonds with multiple redemption dates; zero coupon bonds; and variable interest rate bonds.
Almost 250 bonds issued by over 30 different borrowers with a nominal value of R420 billion are listed, about 80% of all listed securities are bonds issued by the South African government.

Southern African Venture Capital and Private Equity Association - SAVCA
Some of the objectives of the Association are to:
Promote the venture capital and private equity profession in Southern Africa
Represent the profession at the national and international level
Develop and stimulate professional and transactional venture capital and private equity investments throughout Southern Africa

ACI - Association of Collective Investments
The Association of Collective Investments (ACI) is the body representing all collective investments (eg unit trusts) management companies. The Association provides, inter alia: unit trust classification; a unit trust directory; performance statistics; news and events; codes of practice; and information on the industry and education.

PIC - The Public Investment Commissioners
  The Public Investment Commissioners (PIC) has recently been restructured.  
The Public Investment Commissioners Act, aims to corporatise the activities of PIC and register the company as an investment manager regulated by the Financial Services Board. The PIC handles more than R300bn in mainly government employees' pension funds.


Insurance sector

LISPA - Linked Investment Service Providers Association
A Linked Investment Service provider (LISP) is a financial institution, which packages, distributes and administers a broad range of unit trust based investments spanning voluntary to retirement planning products. Any investment made through these products provides a client a single entry into a selection of investment elements whereby a financial advisor assists in designing a suitable investment plan.
The objectives of the Linked Investment Service Providers Association are to: advance and promote the good image and reputation of members; make representations to all regulatory authorities who are vested with the responsibility for regulating any activity in which members, or any of them engage; make representations with regard to all laws and regulations which affect any activity in which members, or any of them, engage; act as the representative body of members, but on the basis that the Association may not bind any of its members without first obtaining their consent.
LOA - Life Offices' Association of South Africa

The LOA is an association of registered long-term insurance companies conducting business in South Africa. It is a forum where member offices can interact to promote their interests and the interests of current and future stakeholders. The association seeks to promote a better understanding of life insurance among the general population of the country; it represents the industry and its policyholders in negotiations with the authorities; and it is in the name of the LOA that South African life insurers regulate their industry.

LUASA - Life Under-writers Association 0f South Africa
Their stated purpose is to raise the status and advance the profession of life assurance intermediaries and thereby to protect the public they serve. They provide information and news relating to insurance.

SAIA - South African Insurance Association
The South African Insurance Association (SAIA) promotes the short-term insurance industry in order to create awareness and understanding of the industry, and to add value to all stakeholders. The SAIA represents almost all of the short-term insurance companies and is authorised to negotiate on their behalf (a list of members is provided).
Core functions of the SAIA are: the representation of its members' interests to the public in a proactive manner; the representation of its members' interests to government at all levels; the provision of a forum for discussion of common interests in the short-term insurance industry; the facilitation of information flow among its members; interaction with all associations operating within the insurance industry, both locally and abroad; and the setting of appropriate technical standards for the industry.
Short-term Insurance Ombudsman - Short-term Insurance Ombudsman
The purpose of the Short Term Insurance Ombudsman is to resolve disputes between members and insured consumers in an independent, impartial, cost-effective, efficient, informal and fair way.

Long-term Insurance Ombudsman - Long-term Insurance Ombudsman
The office for the Ombudsman for Long-term Insurance was established in 1985. The function of the office is to mediate in disputes between subscribing members of the long-term insurance industry and policyholders regarding insurance contracts.

The Insurance Sector Education and Training Authority - INSETA
INSETA promotes and represents the training and development interests of the insurance and related financial services sector of the economy in terms of the skills development legislation. Vision: To provide quality skills development for sustainable business growth. Mission: To drive the development of an integrated and aligned strategy for skills development. To contribute to the achievement of national skills development. To encourage a competent and productive workforce in the industry. To communicate, represent and involve all stakeholders. The INSETA represents the following constituents within the insurance sector: Short-term insurance Life insurance Insurance and Pension Funding Risk management Health care benefits administration Unit trusts Funeral Insurance Reinsurance Pension Funding and Activities auxiliary to Financial Intermediation.

South Affrican Insurance Times & Investments News - ITInews
ITInews provides news and information distribution services to over 400 companies within the financial services sector It also provides a free listing of FSB accredited intermediaries (Financial Service Providers) ITInews publishes articles daily and has a large distribution database of over 19000 e-newsletter recipients with which ITInews communicates weekly.

July
2006

PricewaterhouseCoopers - Strategic and Emerging Issues in South African Insurance 2006
This survey focuses on strategic and emerging issues in the South African insurance industry and attempts to provide an industry-wide perspective. However, where meaningful, it also reports differences between the short-term and long-term participants. It is based on personal interviews with managing directors and senior executives in 25 companies.


Pension and provident funds

Financial Services Board - The Pension Funds Adjudicator
The office of the Pension Funds Adjudicator was established with effect from 1 January 1998 to investigate and decide complaints lodged in terms of the Pension Funds Act. The word Pension Fund in the Act includes a Provident Fund, and Retirement Annuity Fund.

Financial sector - general

April
20
10

Ernst & Young - Financial Services Index, First Quarter 2010

The Ernst & Young Financial services index survey measures the performance of the banking, investment management and life assurance sectors on a quartely and consistent basis. The Bureau for Economic Research (BER) at Stellenbosch University conducts the research analysis.

The first quarter of 2010 was characterised by slowly returning confidence to the banking sector; sustained strong confidence in asset management; and life insurer confidence again boosted by continued rising investment income.

... more

National Credit Regulator - NCR
The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry. It is tasked with carrying out education, research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the Act. The NCR is also tasked with the registration of credit providers, credit bureaux and debt counsellors; and enforcement of compliance with the Act.
The Micro Finance Regulatory Council (MFRC) has now been incorporated.
Institute of Credit Management of South Africa - Institute of Credit Management of South Africa
The Institute represents individuals from all credit disciplines, such as trade credit, consumer credit, banking credit, credit information, credit insurance, debt administration and collections and insolvency practitioners. The Institute’s aim is to raise professional standards in credit management, to increase the awareness of its importance as a crucial management function that plays a vital role in marketing, cash flow and profitability, and to educate and inform its ever-growing membership base.
Ombudsman for Financial Services - Ombudsman for Financial Services
This office has been established in an effort to protect consumers from bad or inappropriate advice when it comes to the financial services. They were established as a result of section 20 of the Financial Advisory and Intermediary Services Act 37 of 2002.

December
2006

SETA for Finance, Accounting, Management Consulting and other Financial Services - FASSET
The Objectives of Fasset
To develop the competence of employees and potential employees; to increase the levels of investment in education and training and to optimise the return on this investment; to position this sector as the "sector of career choice" for prospective learners and entrants into the labour market; to encourage employers and employees to adopt a culture of life long learning through; to support the objectives of the Employment Equity Act of 1998; to enhance access to learning opportunities and to facilitate the recognition of prior learning; to ensure the quality of education and training in the sector; to expand the provision of education and training in this sector through sound partnerships with public and private sector service providers; to encourage greater cooperation between the public and private sectors; and to cooperate with the South African Qualifications Authority and other Setas, in support of the objectives of the Act.


Government

  National Treasury - The National Treasury
  The purpose of the National Treasury is to promote reconstruction and development to deliver rising standards of living for all by ensuring sound public finances and an efficient and equitable use of resources. It was formerly called the Department of Finance.

March
1998 

Department of Finance - Appointment of a Panel of Primary Dealers for the Marketing of Government's Capital Market Debt Instruments (PDF)
  The Department of Finance (now the National Treasury) recommended that several institutions be appointed to a panel of primary dealers for the marketing of government's domestic capital market debt instruments as from 1 April 1998, subject to these institutions being able to fully conform to a set of qualifying criteria. 
The Department of Trade and Industry - the dti
The dti's vision is of a South Africa that has a vibrant economy, characterised by growth, employment and equity, built on the full potential of all South African citizens. To achieve this, the dti has become an outwardly-focused, customer-centric organisation.


BEE; Small, medium, and micro enterprise sector

Cenfri - The Centre for Financial Sector Regulation and Inclusion
The Centre for Financial Sector Regulation and Inclusion (Cenfri) is a non-profit thinktank based in Johannesburg and operating in close collaboration with universities in the region. Cenfri's mission is to support financial sector development and financial inclusion through facilitating better regulation and market provision of financial services. We do this by conducting research, providing advice and developing capacity building programmes for regulators, market players and other parties operating in the low-income market.

March
2007

FinMark Trust - FinScope: Mobile Banking
Mobile phones are already reaching the unbanked poor: in South Africa and Botswana, one-third of people who do not have a bank account—many who are poor— do own a mobile phone or have access to one. This paper presents the first public findings from a survey on how low-income people view and use m-banking.
See also Business Day, MTN joins in global remittances pilot project, 16 March.

February
2007

The Department of Trade and Industry - Codes of Good Practice on Black Economic Empowerment
The BEE Codes of Good Practice are to be applied in the development, evaluation and monitoring of BEE charters, initiatives, transactions and other implementation mechanisms. The Codes of Good Practice on Broad-Based Black Economic Empowerment were gazetted on 9 February 2007 in Government Gazettes.

November
2006

FinMark Trust - FinScope: Small business
The FinMark Trust and the Gauteng Enterprise Propeller (GEP), contracted African Response to conduct market research into Gauteng’s small business sector. Co-funding for the study came from Absa, First National Bank, Standard Bank, TransUnion and through the dti, the national government.

BusinessMap Foundation - BEE Investment Guide
Covers:
General introduction to BEE & the codes
Small business/enterprise
Large business
Definitions

January
2004

Financial Sector Charter Council - The Financial Sector Charter
The Financial Sector Charter is a transformation charter in terms of the Broad-based Black Economic Empowerment [BBBEE] Act [Act 53 of 2003]. The Charter came into effect in January 2004 as a result of the Financial Sector Summit hosted by the National Economic Development and Labour Council [Nedlac], the multilateral social dialogue forum on social, economic and labour policy. The Nedlac partners – government, business, labour and community constituencies – negotiated the Financial Sector Summit Agreements on transforming the financial sector.

BusinessMap Foundation - Sector Charters
Each industry sector may design their own BEE Charter and with it their own BEE Score Card. This enables the sectors to correct previous racial imbalances specific to their sector, and to promote further industry specific changes.

Association of BEE Verification Agencies - ABVA
The ABVA is an independent national membership organisation established to lead the black economic empowerment (BEE) verification industry as it takes up a vital role in the transformation of the South African economy. The ABVA aims to facilitate the accreditation of qualifying BEE verification agencies as set out in the Broad-Based Black Economic Empowerment (B-BBEE) Codes of Good Practice and guide the development of the industry by standardising the ratings methodology, setting the standards for ethical behavior, professional development and the achievement of excellence in the profession.
Small Enterprise Development Agency (SEDA) - Small enterprise support
The Small Enterprise Development Agency (SEDA) is the Department of Trade of Industry's agency for supporting the development of small business in South Africa. The establishment of SEDA ensures a coordinated approach to the design and implementation of development support programmes and the creation of a service delivery network for small businesses throughout South Africa. At SEDA offices, entrepreneurs will be able to get help with business plans, technical advice and marketing, as well as information on export support, tenders and incentives. 
Khula Enterprise Finance - Access to finance
Khula Enterprise Finance Limited is an agency of the Department of Trade and Industry (dti) established to facilitate access to finance for SMMEs. Khula provides assistance through various delivery channels. These include commercial banks, retail financial intermediaries (RFIs) and micro credit outlets (MCOs). Through its Thuso Mentorship Programme, Khula also provides mentorship services to guide and counsel entrepreneurs in various aspects of managing their businesses.
Kagiso Trust Enterprises - SMME assistance
The purpose of Kagiso Trust Enterprises (Pty) Ltd (KTE) is to identify small and medium sized businesses with high growth potential, then provide multi-faceted assistance for the business to achieve growth in a profitable and sustained manner. KTE aims to financially and strategically partner viable small and emerging businesses in the educational, information technology and telecommunications industries.
MEA - Micro Enterprise Alliance
The Micro Enterprise Alliance is a membership association of South African organisations and individuals working in the field of micro enterprise development. The formation of the Alliance was an organic response to shared needs by institutions in the field. 
The membership of the Alliance is wide ranging in scope, capacity and geographic distribution. The membership includes very small, under-resourced NGOs based in townships and rural areas, established NGOs, private companies, provincial development corporations, large and small banks.
Of interest is the Resource Centre which aims at creating an ethos of understanding and creativeness within the micro-enterprise sector. The service is available to practitioners, consultants, managers, research institutions, students and the general public, looking for specialised information in this field.
MFRC - The Micro Finance Regulatory Council
The primary aim of the Micro Finance Regulatory Council (MFRC) has been identified as the promotion of the money-lending industry so as to allow for sustainable growth in the industry and to serve legitimate unserviced credit needs. The MFRC has been established in accordance with the Usury Act Exemption Notice of 1 June 1999 and has been recognised as the official and single regulator of all money lending transactions falling within the scope of the Usury Act Exemption Notice. Any money lender who wishes to avail themselves of the benefits of the Usury Act Exemption, will be required to register with the MFRC and thereafter comply with the rules of the MFRC and the Exemption Notice.
Related entry: Filling the Gap in South Africa’s Small and Micro Credit Market: An Analysis of Major Policy, Legal, and Regulatory Issues, indexed in the Financial markets section.

The BusinessMap Foundation - The BusinessMap Foundation
The BusinessMap Foundation (formerly BusinessMap SA) is a South African-based not-for-profit research organisation focusing on the economic transformation of South Africa and the region. The major focus is the change in the racial profile of the economy, from one designed to serve the interests of the white minority to one catering for all the country’s people. They produce information, backed up by extensive research, on political and investment issues in South and Southern Africa. The areas of focus are Black Economic Empowerment, Development Finance, Globalisation and Investment, Politics and Policy. The Foundation provides unique information and knowledge, underpinned by primary sourcing of information, which draws on their network of consultants and access to a wide range of political and business leaders.


Other institutions

The Competition Commission - The Competition Commission
The Competition Commission is a statutory body constituted in terms of the Competition Act, No 89 of 1998 by the Government of South Africa empowered to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South African economy.

SAICA - The South African Institute of Chartered Accountants
The South African Institute of Chartered Accountants (SAICA) is the pre-eminent accountancy body in South Africa. It has established itself as one of the leading Institutes in the world, playing its part in a highly dynamic business sector. It provides a wide range of support services to its members enabling them to play a key role in developing the rapidly changing South African economy.

End: Financial Institutions, Services, Industry Bodies, Traders and Structures

Last modified: April 30, 2012

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