HOW TO SET UP IN CAPE TOWN
The South African banking system is well developed and effectively regulated, comprising a central bank – the South African Reserve Bank – as well as a few large, financially strong banks and investment institutions, and a number of smaller banks. Many foreign banks and investment institutions have operations in South Africa. Investment and merchant banking remains the most competitive front in the industry, while the country’s “big five” banks – Absa, FNB, Standard Bank, Nedbank and newcomer Capitec – dominate the retail market.
Read more: Banks and exchange in South Africa