Welcome to the 13th edition of the South African Business journal. First published in 2011, the publication has established itself as the premier business and investment guide to South Africa, supported by an e-book edition and website at www.southafricanbusiness.co.za.
A special feature in this journal focusses on the vital focus on infrastructure that is seizing the attention of the political and business leadership of South Africa. This is not the arena of endless talk shops. Rather, 160 CEOs of some of the country’s most influential companies are rolling up their sleeves and trying to make things work better. The article looks at steps being taken by a combination of the public and private sectors to beef up the country’s railways, ports and energy network. Crime is also under the spotlight. As this journal goes to print, South Africa will ascend to the presidency of the G20, a singular honour and an opportunity for the country to put its best foot forward. A brief overview of each of the country’s provinces is also provided.
South African Business is complemented by nine regional publications covering the business and investment environment in each of South Africa’s provinces. The e-book editions can be viewed online at www.globalafricanetwork.com. These unique titles are supported by a monthly business e-newsletter with a circulation of over 35 000. The Journal of Africa Business joined the Global African Network stable of publications as an annual in 2020 and is now published quarterly.
OVERVIEWBanking and
OVERVIEWBanking and financial servicesYet more banks are being established.SECTOR INSIGHTThe main board of the JSEhas a new segment.The broadening of the South African financial services sectorwhich began with the formation of Capitec in 2001 continues.Despite the South African economy not growing particularlystrongly, the banking sector is offering good returns.Since the date of Capitec’s launch, a number of digital banks (BankZero, Discovery Bank and TymeBank) have entered the South Africanmarket, often tied to retail chains such as Pick n Pay as a means ofmaking terminals easily accessible for customers. In 2024 two newlicences were approved: a mutual banking licence was granted toYoung Women in Business Network (YWBN) and Old Mutual receivedthe green light to start offering full banking services.Capitec itself has grown in leaps and bounds and is now targetinginternational expansion. Through Avafin, an online consumer-loanproduct, the company already has a presence in four European countriesand Mexico. The group also offers funeral insurance and other servicessuch as prepaid data and airtime through Capitec Connect.The Bidvest Group has decided to sell Bidvest Bank and FinGlobal.A potential buyer is the resuscitated African Bank, which acquiredGrindrod Bank in 2022 and Sasfin Bank in 2023.Finbond, Santova and PBT became the first companies to havetheir securities traded on the “general” segment of the main boardof the JSE in 2024. Designed to attract smaller-cap companiesONLINE RESOURCESFinancial Sector Conduct Authority: www.fsca.co.zaInsurance Institute of South Africa: www.iisa.co.zaSouth African Institute of Chartered Accountants: www.saica.co.zawith fewer administrativerequirements and lower costs,the new section sits alongsidethe existing “prime” segmentwhere larger corporations’shares are housed. In 2003the JSE tried to attract smallerlistings through its alternativeexchange, AltX, but that did notprove popular. The JSE hopesthat the new segment willreverse the trend of delistings ofthe past few years.Another step to counter thetrend is to offer new productssuch as the JSE VenturesVoluntary Carbon Market. JSEVentures is collaborating withUS company Xpansiv, whichhas experience in globalenvironmental markets. SouthAfrica has had carbon taxessince 2019.One of South Africa’snewer stock exchanges, theCape Town Stock Exchange(which started life as 4AX), hasoverseen the listing of an initialtranche of preference sharesof the Gaia Renewables REIT,a fund that caters to investorswho want to have a stake in theburgeoning renewable energyeconomy. It is expected thatmore investors will want to bepart of a sector that is showingenormous potential. ■SOUTH AFRICAN BUSINESS 202596
INDEXINDEXAir Products .............................................................................................................................................................................. 61Amulet Group .................................................................................................................................................................76-79Automotive Industry Development Centre – Eastern Cape (AIDC-EC)...................................66-67Brand South Africa..............................................................................................................................................................4-5Chartered Institute of Government Finance Audit and Risk Officers (CIGFARO)......... 34-35Council for Geoscience..............................................................................................................................................44-45Council for Scientific and Industrial Research (CSIR).............................................................................32-33Dust-A-Side........................................................................................................................................................................50-51Forvis Mazars................................................................................................................................................................9, 55-57Foskor.....................................................................................................................................................................................40-41Gateway Airports Authority Limited (GAAL)...............................................................................................86-87Invest Durban.........................................................................................................................................................................2-3Mpumalanga Economic Growth Agency (MEGA)..................................................................................20-21Namakwa Special Economic Zone ...................................................................................................................26-27National Youth Development Agency (NYDA)................................................................................................... 7OR Tambo Special Economic Zone (Gauteng IDZ)................................................................................22-25Plastics SA............................................................................................................................................................................71-73Rand Water.........................................................................................................................................................................82-83South African Institute of Electrical Engineers (SAIEE).........................................................11, 31, 64-65Steinmüller Africa...........................................................................................................................................................62-63Ukwazi...................................................................................................................................................................................46-49University of the Western Cape (UWC)...........................................................................................................92-93Wits Business School ...........................................................................................................................................IFC, OBC
