South Africa has a well-established and robust financial services sector and is able to provide a full range of banking, insurance and investment services to both retail and institutional clients.
Situated at the southern-most part of Africa, and leveraging off a solid legal and regulatory framework, South Africa is able to offer a stable destination for foreign banks and investments institutions wishing to set up operations on the African continent.
South Africa Key Facts
- South Africa is flanked on the west by the Atlantic Ocean and on the east by the Indian Ocean, whose waters meet at the country’s and Africa's most southern tip, Cape Agulhas.
- Cape Town is the largest city by land mass in South Africa and is the legislative capital where the country’s parliament is based.
- South Africa is the most economically prosperous nation in Africa due to its coastal location and presence of gold, diamonds and other natural resources.
- The South African financial services sector, backed by a sound regulatory and legal framework, hosts numerous domestic and foreign institutions providing a full range of fiduciary services.
- Johannesburg Stock Exchange is the largest stock exchange in Africa and the 17th largest in the world by market capitalisation.
- South Africa has 11 official languages, though most of the country speaks English.
- National currency is the Rand (ZAR).
- Regulated by the Financial Sector Conduct Authority (FSCA).