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Banking in South Africa is centred on the South African Reserve Bank (SARB), which is the monetary authority and controls gold and foreign exchange reserves. [1]
Stephen Mitford Goodson (1948 - 4 August 2018) was a South African banker, author and politician who was the leader of South Africa's Abolition of Income Tax and Usury Party. He stood as a candidate for the Ubuntu Party in the 2014 General Elections. [1] [2] Goodson has authored a total of 7 books on banking and history.
Following on the recommendations of the committee, the South African Reserve Bank opened for business on 30 June 1921, making it the oldest central bank in Africa. The first banknotes were issued to the public by the Bank on 19 April 1922. Set of ZAR notes 2012 to present R 104 000 000 000.00 and Set of ZAR notes 2018 to present 400 000 000 print.
It secured a banking licence in 1980 [10] [11] and was first listed on the JSE Securities Exchange in South Africa in 1986, after merging with Metboard, a trust company. [12] In 1988, Investec Bank Limited was restructured into Investec Group Limited ("IGL"), giving Investec Management and staff control of the company.
Absa Group Limited, commonly known simply as Absa and formerly the Amalgamated Banks of South Africa (ABSA) until 2005 and Barclays Africa Group Limited until 2018, is a multinational banking and financial services conglomerate based in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange.
African Bank Limited, is a retail bank in South Africa, that offers financial products and services. The Bank is licensed as a "locally controlled bank" by the South African Reserve Bank (SARB). [ 3 ]
Wizzit is a provider of basic banking services for the unbanked and underbanked (people or enterprises that have no or only limited access to banking services) in South Africa. Its services are based on the use of mobile phones for accessing bank accounts and conducting transactions, in addition to a Maestro debit card that is issued to all ...
This is a list of commercial banks and other credit institutions in South Africa, as updated late 2024 by the Reserve Bank of South Africa. [1] [2]