The Banking Association South Africa represents the banking industry in South Africa, promoting the interests of the banking sector and advocating for banking policies and practices.

The Banking Association South Africa

The Banking Association South Africa | 1,402 followers on LinkedIn. The Banking Association South Africa is an industry body representing all registered banks in South Africa.  | The Banking Association South Africa is an industry body representing registered banks in South Africa.

Stephen Letsoenya

Passionate about digital transformation for human prosperity

Kumaran S.

General Manager : Banking Association of South Africa - Payments Division

Natasha Malandji

Development Planning | Real Estate I Land Management

Zandile Sibiya

The Medium Term Budget Policy Statement (MTBPS) had to put in place the policies needed to turn increasing confidence in South Africa into investment opportunities in the economic infrastructure necessary for business growth and job creation. Find out more; https://lnkd.in/dEiHwmNd

Banks must be commercially sustainable to contribute to inclusive economic growth and job creation; and to provide the financial services needed for business and personal transactions in the country. The big six banks: * Paid R47 billion in tax, in 2024. * Paid R59 billion to shareholders, including pension funds and empowerment schemes, in 2023 * Employed 187 000 people, in 2023. https://lnkd.in/d9xvDn5

Banks are committed to transformation and empowerment, which are necessary for sustainable economic growth and social development in South Africa. BASA has long advocated that inclusive economic growth is the fastest and most effective way to transform the economy and empower the majority of South Africans. * 28.8% of voting rights in banks are held by black shareholders. * 22.5% of economic interest in banks is held by black shareholders. https://lnkd.in/d9xvDn5

Education and training is a significant focus of bank corporate social investment (CSI). Initiatives range from vocational and digital skills development, support for early childhood development centres, to numeracy and financial literacy. Investments in youth employment, internships and entrepreneurial development are intended to bridge the gap between education and employment. Programmes to assist women include promoting entrepreneurship through microfinancing, supporting women-owned businesses, and implementing comprehensive financial literacy programs. In all, banks spent an estimated R1,06 billion on corporate social responsibility programmes, in 2023. https://lnkd.in/d9xvDn5

Banks raise funds from depositors, shareholders and others, by paying them interest. To earn interest, banks lend to entrepreneurs, professionals and companies, who need investment and finance to expand their business and create jobs; and for personal advancement. Banks also provide loans to the government for the public service and economic and social development programmes. Major banks provided: R366 billion to the manufacturing sector, in 2023 R215 billion for infrastructure investment, in 2023 R209 billion to agriculture, in 2023 Banks are invested in South Africa. The country needs a stable banking and financial system to fund its economic and social development. https://lnkd.in/d9xvDn5

South Africa’s banks hold in trust the savings and salaries of South African workers, professionals and businesses. Banks have a fiduciary responsibility to protect these depositors’ funds. Because of this, the country’s banks are strictly regulated to ensure that they do not lend recklessly. Those who are lent depositors’ funds must be able to repay their loans, to protect depositors’ savings. The National Credit Act, for example, sets out the affordability criteria for responsible lending, to which banks must adhere, to ensure that customers do not become over-indebted. Banks safeguard R5,8 trillion in the savings, salaries and investments of South African workers, professionals and businesses. https://lnkd.in/d9xvDn5

The 8th edition of the AFAWA Finance Series has officially begun! We’re live from Johannesburg with keynote remarks from leading financial and policy experts. The event offers a platform for business development, training, and engagement, bringing together financial institutions, policymakers, and women entrepreneurs in one room for dialogues on the crucial role that Women SMEs play in driving private sector growth in South Africa. Over the course of the event, we aim to strengthen understanding of the AFAWA Guarantee for Growth (G4G) program, equip financial institutions with tools to adopt gender-sensitive practices, and explore the 2X Challenge opportunities to de-risk lending portfolios. Join the conversations by viewing the livestream of the event on: Facebook: https://lnkd.in/d_UvrUBf YouTube: https://lnkd.in/d6aeTf2k X (formerly Twitter): https://lnkd.in/dYUzUfj6 LinkedIn: https://lnkd.in/dSfnExrW African Development Bank Group The Banking Association South Africa #AFAWAFinanceSeries #AFAWA #WomenEntrepreneurs #GenderFinance #Access2Finance #GenderLensInvesting #SouthAfrica

African Guarantee Fund

BASA and its members are opposed to unfair discrimination of any kind. To date, no BASA member bank has been found guilty in a court of law of systemic or institutionalised racism. BASA has long acknowledged that the racial inequalities in wealth and ownership in South Africa have their roots in apartheid and has partnered with the government to bolster inclusive economic growth and the transformation of the economy. The Financial Sector Conduct Authority (FSCA), among others, is responsible for the regulation aimed at ensuring that banks do not unfairly discriminate against their customers in any way. Consumers may also take their complaints to the National Financial Ombud Scheme, which has the jurisdiction to adjudicate complaints against banks and their products and services. https://lnkd.in/d9xvDn5

The African Development Bank Group (“the Bank”) and the African Guarantee Fund (AGF), in collaboration with the Banking Association South Africa (BASA), officially launched the Affirmative Action for Women in Africa (AFAWA) Finance Series today in Sandton. The AFAWA Finance Series promotes an inclusive financial ecosystem and presents financial mechanisms to unlock substantial financing for women-owned and women-led businesses, thus creating a pathway towards sustainable and long-term growth of women-led and women-owned Small and Medium Enterprises in South Africa. https://lnkd.in/dpeHtr5G

Business Unity South Africa (BUSA) is profoundly saddened by the passing of Tito Mboweni, former Governor of the South African Reserve Bank and esteemed Minister of Finance. Tito’s contributions to South Africa’s economic landscape were transformative and will be remembered for years to come. https://lnkd.in/drGyZb6m

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The Banking Association South Africa