Finance is a broad term that describes activities associated with banking, leverage or debt, credit, capital markets, money, and investments. Basically, finance represents money management and the process of acquiring needed funds
Here Are The Top Financial Services In South Africa
With help from the University of Cape Town, annual publication Top 500 South Africa’s Best Managed Company has whittled the country’s financial firms down the its finest. The study splits the finance industry into 10 main sectors; we picked the leading company from each.
The researchers recognized three main sectors: financial performance, empowerment, and policy and accreditation. The study also factored in the social and developmental policies. Here’s the final outcome:
Speciality Finance – Zeder Investments
Zeder investments has the highest annual turnover for the period and highest employment efficiency.
Accounting and consulting – PWC South Africa
Price Water House Coopers South Africa has the sectors highest rand growth. It is also Africa’s largest provider of professional services.
Asset Management – Old Mutual Investment Group
Old Mutual bags top honours in the asset management sector. PSG group made another appearance, coming in second in this category.
Auction Houses – Claremart Auctioneers
Claremart Auctioneers has the highest turnover in the auction house sector, followed by Strauss & Co.
Real Estate Holdings and Development – Growthpoint Properties
Growthpoint Properties has the highest turnover and a strong productivity per employee.
Investment Service – PSG
PSG dominates the market and is one of South Africa’s most successful business empires. It has an impressive turnover growth of 45.7 percent for the period under review.
Investment Holding Company – Remgro
As with last year, Remgro is the top investment holding company in terms of turnover.
Life Insurance – Liberty Holdings
Liberty has the highest turnover for the period in review, and strong efficiency per employee. It was ranked fourth place last year.
Short-term insurance – Santam Limited
Santam Limited has held the top spot for six consecutive years now. It is the largest company in the industry with the second highest employee efficiency.
Bank – Standard Bank
Standard Bank tops the banking charts, as it did last year. It has the sector’s highest turnover, along with the highest rand growth and strong employee efficiencies.
What is the number 1 bank in South Africa?
Standard Bank
The “big four”, Standard Bank (#1), Absa (#3), Nedbank (#4) and FirstRand (#6), are all in the top six of Africa’s ranking – last year they were four out of the top five. The most profitable, FirstRand, is ranked on results to June 2024, compared to December 2024 for the others.
How many types of financial services are there?
Individual Banking (checking accounts, savings accounts, debit/credit cards, etc.) Business Banking (merchant services, checking accounts and savings accounts for businesses, treasury services, etc.) Loans (business loans, personal loans, home loans, automobile loans, working-capital loans, etc.)
What’s the richest bank in South Africa?
Standard BankThis shows that the five biggest banks in the country are: Standard Bank. FirstRand (FNB)
How South Africa’s 5 biggest banks continue to dominate.
| Bank | Market share | ~ Asset value |
|---|---|---|
| Standard Bank | 24.0% | ~R1 550 billion |
| FirstRand | 21.7% | ~R1 400 billion |
| Absa | 19.5% | ~R1 260 billion |
| Nedbank | 17.2% | ~R1 110 billion |
Which bank is best for investment in South Africa?
Nedbank has the best-fixed deposit rate for 2024 offering a 10.60% interest rate, followed by Standard Bank with 10.55% with African Bank coming in third with a 10.50% effective interest rate for 60 months investment.