The implementation of Basel III capital requirements, which were drawn up to prevent a repeat of the 2008–09 global financial crisis, is a major concern for South African banks. Research by consultants Bain & Co found that the net stable funding ratio (NSFR) required by Basel III would cost South Africa’s five biggest banks R471bn ($56.4bn) in new capital through increased costs or greater wholesale lending.
The number of Southern African banks in our Top 100 has fallen from 22 last year to 19 in this year’s survey. Bidvest Bank secures 25th position this year with a value of $103m, far higher than the $62m that Standard Bank Mozambique needed to secure the same spot in our 2011 regional table.
As in our pan-African survey of the Top 100 African Banks, South African banks dominate our table of the Top 25 banks in Southern Africa. The largest South African financial institutions are more than 10 times the size of the largest in any other African country.
To give you an idea of volumes, Food Bank South Africa facilitates the provision of approximately 41,500 meals daily! I think this is incredibly important work and worthy of our support. So how can you help? Check out the and click on the ‘Get Involved’ tab. Apart from donations of food or money, you can also help when they have special ‘packing days’, where you can help sort food.
This article is not about food waste and what you can do to reduce the problem, although I do encourage you to be more aware of what food you buy and what food you throw away. Most household food waste can be eradicated by more careful purchasing and use. The real purpose of this article is to introduce you to Food Bank South Africa. This organisation does amazing work in taking food waste and converting it into nutritious meals which are then supplied to organisations which feed those in need.
As last year, the five biggest banks in the Southern African Development Community (SADC) region outside South Africa are all Angolan, reflecting the continued strong economic growth and cash rich economy that stems from the country’s oil industry.
Athletes compete in the Standard Bank IRONMAN 70.3 South Africa Triathlon, held at Buffalo City, East London, in the Eastern Cape of South Africa on January 25 2015. The mens event was won by Matt Trautman after a ding dong battle with Stuart Marais, while Former World 70.3 champion Jodie Swallow destroyed the opposition to win the race for the 5th consecutive year, posting a record time in the process.