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www.CapitalOne.com/DirectBanking
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www.southafrica.net
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South African bank offering personal banking, business banking and corporate banking.
www.allied.co.za
AMB is a South African majority black-owned merchant and investment banking group.
www.amb.co.za
South African bank working on improving the socio-economic state of the country.
www.dbsa.org
The bank is geared towards helping clients navigate complex issues such as financial restructuring and raising capital.
www.marriott.co.za
Offer products and services in the Republic of South Africa only.
www.mercantile.co.za
MLS is the only South African bank exclusively devoted to serving the needs of medical and dental practitioners.
www.mlsbank.co.za
NBS has grown into a national diversified financial services institution in South Africa.
www.nbs.co.za
Principal businesses comprise life insurance, asset management, banking and general insurance.
www.oldmutual.co.za
SCMB is a division of The Standard Bank of South Africa Limited (SBSA), the main operating subsidiary of the Standard Bank Group.
www.scmb.co.za
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Guide to Banks in South Africa
Find and use South African banks to meet a variety of needs
South Africa is one of the most industrialized and economically strong areas of Africa. As a result, many of the most prestigious and international banks of Africa are located within this country. Despite its industrialization and relative prosperity, however, South Africa is also considered to be a developing nation. South Africa banks, because of this, are greatly diversified in order to meet a wide range of banking needs. Some banks in South Africa focus on internal development, while others focus more on promoting international banking in South Africa. Whatever their focus, many banks of South Africa are eager to work with international businesses.
Keep in mind the following issues when researching banking in South Africa:
1. Focus on banks that will meet your specific needs.
2. Consider the unusual position of South Africa as both an industrialized and a developing nation.
3. Comparing South African banks will help you find the right bank out of the many available.
Action Steps
The best contacts and resources to help you get it done
Research individual banks by using company websites
Most banks of South Africa provide a great deal of information online. This information is especially useful for international businesses looking to connect to South African banks.
I recommend:
Absa is one of the largest banks in South Africa, with personal, business and corporate banking services. For a list of every bank in South Africa, the South African Financial Sector Forum lists local, commercial and international banks with links to the individual banks’ websites.
Gather general information about banking in South Africa
Information about the banking industry and general financial state of South Africa can be found from the South African government and from private sources.
I recommend:
The South African Reserve Bank is the central bank for the Republic of South Africa. Its website contains information on inflation, exchange rates, world markets, monetary policy and such. Mammoth Solutions offers an article with information about South African banks and doing business in South Africa.
Get background information on South Africa banks before doing business or making investments
There are several banking service companies and organizations that provide detailed information on the banks of Africa.
I recommend:
The Banking Association-South Africa is an industry body responsible for lobbying, policy research, and such in South Africa. Their website includes news on the banks in South Africa and changes in banking policy and is updated several times per day. Bankmonitor is an independent company that offers comparisons between different South African banks. Their services include transaction fee calculators and product comparisons.
