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.
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| The Financial Institutions,
Industry Bodies section is organised as follows:
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| 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
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SA Reserve Bank - The South African Reserve
Bank |
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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.
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National
Treasury - Co-operative
Banks Development Agency |
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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
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FinMark
Trust - FinMark
Brief: The Banking Inquiry
(PDF)
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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 |
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June
2008
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SA
Competition Commission - Banking
Enquiry Report: Executive Overview |
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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. |
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The Financial Services Board - The Financial Services Board |
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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. |
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February
2005
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SA Reserve Bank - Institutional
Sector Classification Guide for South Africa |
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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.
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SA Financial Sector Forum - Directory of Banks |
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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.
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March
2007
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PricewaterhouseCoopers
- Initial
Perspectives on Strategic and Emerging Banking Issues in Key African
Markets |
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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 |
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January
2007
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Ernst
& Young - Banking
Confidence Index |
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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 |
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September
2005
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National
Treasury/South African Reserve Bank - Competition
in South African Banking
(PDF) (2,9 MB) |
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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
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| Economic concentration
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| Simulation: Revenue, costs and competitiveness of
banks
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| Simulation: The possible role of second- and
third-tier banks
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| The payment system and competition
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| Banking services to the unbanked
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| Retail offerings to low- and high-income
individuals
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| Banking services for small and medium businesses
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| Disclosure and corporate governance
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| The legislative and regulatory environment
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| The way forward: conclusions and recommendations
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Further research has been conducted, see below.
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April
2006
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South
African Reserve Bank - National Payment System Vision
2010 |
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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. |
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April
2006
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Competition
Commission - The
National Payment System and Competition in the Banking Sector |
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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. |
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The
Banking Association South Africa - The Banking Association South Africa |
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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. |
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March
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The
Banking Association South Africa - Code
of Conduct on Credit Extension
(PDF) |
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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. |
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Ombudsman
for Banking Services - Ombudsman
for Banking Services |
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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. |
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South
African Banking Risk Information Centre - SABRIC |
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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. |
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The
Banking Sector Education and Training Authority
- BANKSETA |
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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. |
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The
Institute of Bankers in South Africa - The
Institute |
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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. |
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FinMark
Trust - FinMark
Trust |
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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. |
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SA Reserve Bank - Directory of Authorised
Dealers in Foreign Exchange |
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A directory of those organisations
authorised to deal in foreign exchange in South Africa in
terms of exchange control regulations. |
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SA Post Office - Postbank |
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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
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The Financial Services Board - The Financial Services Board |
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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. |
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The
South African Institute of Financial Markets - The
SAIFM |
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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. |
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The
Financial Planning Institute - The
FPI |
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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.
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JSE Limited - The JSE |
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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. |
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The South
African Futures Exchange - SAFEX |
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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. |
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The Bond Exchange of
South Africa - Bond Exchange of South Africa |
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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.
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Southern
African Venture Capital and Private Equity Association
- SAVCA |
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Some
of the objectives of the Association are to:
| Promote the venture capital and private equity
profession in Southern Africa
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| Represent the profession at the national and
international level
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| Develop and stimulate professional and
transactional venture capital and private equity investments
throughout Southern Africa
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ACI
- Association of
Collective Investments |
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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. |
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PIC - The Public Investment Commissioners |
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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
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LISPA
- Linked
Investment Service Providers Association |
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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. |
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LOA
- Life Offices'
Association of South Africa |
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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.
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LUASA
- Life Under-writers
Association 0f South Africa |
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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. |
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SAIA - South African Insurance Association |
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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. |
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Short-term
Insurance Ombudsman - Short-term
Insurance Ombudsman |
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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. |
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Long-term
Insurance Ombudsman - Long-term
Insurance Ombudsman |
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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. |
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The
Insurance Sector Education and Training Authority
- INSETA |
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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. |
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South
Affrican Insurance
Times & Investments News - ITInews |
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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. |
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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
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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
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April
2010
|
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
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|
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. |
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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
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| |
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
|
|
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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 |
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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. |
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BusinessMap
Foundation - BEE
Investment Guide |
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Covers:
| General introduction to BEE & the codes
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| Small business/enterprise
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| Large business
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| Definitions
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January
2004
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Financial
Sector Charter Council - The
Financial Sector Charter
|
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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. |
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BusinessMap
Foundation - Sector
Charters |
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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. |
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Association
of BEE Verification Agencies - ABVA |
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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. |
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Small
Enterprise Development Agency (SEDA) - Small
enterprise support |
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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. |
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Khula
Enterprise Finance - Access
to finance |
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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. |
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Kagiso
Trust Enterprises - SMME
assistance |
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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. |
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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. |
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MFRC - The
Micro Finance Regulatory Council |
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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. |
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The
BusinessMap Foundation - The BusinessMap Foundation |
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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
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|
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. |
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SAICA
- The South African Institute of Chartered
Accountants |
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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. |
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