South Africa has a well-developed financial services sector that has been increasingly liberalised over the past ten years. The sector is one of the largest and most deregulated among the emerging markets, with sophisticated banking, bond and insurance markets. Financial services, real estate and business services together accounted for 20.3% of GDP in 2014.
The operating environment will remain challenging for many South African financial services firms in the short term, but should improve later in the forecast period (2015-19) as global economic uncertainties start to diminish and confidence returns.
The continued rapid growth in the number of black people with middle and high incomes should support increasing demand for financial services products during the forecast period. Meanwhile, continued efforts by the government to increase the availability of financial services products to low-income earners should increase financial services activity at the lower end of the market.

Financial services report 2

Banks 3

Insurers 7

Asset managers 9

Financial markets and instruments 11

Financial regulation 13

Monetary and currency policy 14

South Africa at a glance 16

Fundamental indicators 17

Key contacts 18

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