Located in the continent of Africa, South Africa has a diversified economy and is a remarkable advocate for Africa’s advancement. With a good financial system, many international investors and a well maintained banking sector, South Africa is doing well for itself, and here’s a list of the some popular financial services companies in South Africa:
Based in Johannesburg and risen to existence through a merger between Liberty Capital Asset Management and Standard Corporate and Merchant Bank Asset Management, STANLIB is an asset manager. Both the subsidiaries of Liberty Holdings and Standard Bank, upon merging, gave birth to the biggest unit trust company in terms of market share. STANLIB managers capital for over 400,000 clients, and has its reach in 7 African Countries. Being the oldest unit trust in South Africa to still exist, it is chosen and trusted by many for their services.
More commonly known as Alexander Forbes, it is a group that specializes in financial services. It provides advices regarding finances and financial products to not just institutions, but also individuals and businesses. Its head office is located in Sandton, and has interests of pursuing business in the Middle East and Europe. Having been established in the year 1953, Alexander Forbes has been around for a long time and has been paving its way to the top since then. It has been listed on the Johannesburg Stock Exchange since 2014.
3) Capitec Bank
Capitec Bank operates as a retail bank that serves individuals and business, but, however, does stay away from providing banking to close corporations and companies. Being the third largest bank in South Africa, it aims to simplify the banking experience for those that they serve. With over 120000 new customer opening accounts per month, it has earned the trust of many. Nationwide, over 668 retail brances of Capitec Bank exist, and they serve over 6.2 million customers.
When it comes to the FinTech world, South Africa does not stay too behind. Wealth Migrate is a real estate investment marketplace, whose online portal allows direct access to investors to the world of exclusive investment opportunities in great markets all over the world. Founded in 2010, Wealth Migrate aims to let its users gain access to those wealth building assets that were previously owned and reserved for just the rich.
Another great emergence in the world of FinTech by South Africa is EasyEquities, that allows users access to equities listed on the Johannesburg Stock Exchange with no additional costs such as monthly fees and minimum investments. It provides them with low trading costs.
Headquartered in Cape Town, Santam is a financial services group that is also listed on the Johannesburg Stock Exchange. With a market share in excess of 22 percent, it is the leading insurer in the region of South Africa. Their services include a range of general insurance products to its local and international customers. With over 1 million policyholders, their customers range from commercial business owners to individuals.
Yet another breakthrough in the FinTech world of South Africa, Zoona allows those interested with the necessary technology, sufficient capital and business support. It allows entrepreneurs with great ideas to not be pushed down due to their lack of funds. By becoming Zoona agents, they are then provided with the necessary services that they require. They also provide basic financial services to various companies, and have transacted over $1 billion via their agents.
Based in South Africa, it is a privately owned insurance company that offers two kinds of insurance licenses; life and short term. Established in 1980, the group has done well for various communities. They are the creators and followers of the world’s first Social Impact Insurance entity. What this does is it creates a specialized risk assessment entity that measure and manages the risks linked with the funding of organizations that aim to have an impact on the society.
9) Guard risk
In South Africa, it is the leading provider of cell captive solutions regarding business and alternative risk transfers. Guardrisk provides specific, tailor-made risk financing solutions that also entails access to a vast panel of relevant services.
10) Mutual & Federal
Dating back to more than 180 years, this is the oldest short-term insurer in the region of South Africa. It is a leading player when it comes to the field of short-term insurers, and take pride in adapting to the changes of the new world. They provide insurances in areas like personal, business and farmers insurance.