South Africa

Financial Sector Overview

South Afrtican currency

Income Group: Upper Middle Income

South Africa’s financial sector is the most developed in the continent and is significantly larger and more diversified than that of regional and income-group peer countries.

Based on a cross-country comparison, net interest margins, bank cost-income ratios and bank overhead costs show that the efficiency of the banking system is broadly in line with income-group and regional averages. However, the ability of the financial sector to channel funds to the private sector, as indicated by the ratio of private sector credit to GDP, is significantly higher than in peer countries and the highest in the continent.

Read the full financial sector profile