ANNUAL REPORT 2018 TABLE of CONTENTS GENERAL OVERVIEW 2 SECTION 1 – GENERAL OVERVIEW 3 Who We Are
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Financial Year Ending 28 Febuary 2014
Finbond Group Limited & Finbond Mutual Bank Integrated Annual Report for the year ended 28 February 2014 TABLE OF CONTENTS Executive Summary Corporate Governance Financial Statements Additional Information Vision and Mission 4 Risk Management Audit Committee Report 54 Notice to shareholders 124 Core Values 4 Framework 40 Independent Auditors’ Report 57 Form of Proxy 131 About Us 5 Basel III and Regulatory Directors’ Report 58 Corporate Information 135 What is a Mutual Bank? 6 Capital 45 Company Secretary’s GRI Sustainability index 136 Our Branches 7 Economic Risk Capital 47 Certificate 61 Declaration 139 Key Performance Indicators 8 Corporate Governance 48 Remuneration Report 62 Materials Usage 140 Human Capital Development 9 Social and Ethics Committee Statement of Financial Service Standards 11 Report 51 Position 64 Internal Audit 12 Directors’ Responsibilities 52 Statement of Comprehensive Compliance 13 Approval of Financial Income 65 Regulation 14 Statements 52 Statement of Changes in Financial Highlights 15 Equity 66 Consumer Education 17 Statement of Cash Flow 68 Directorate 18 Accounting Policies 69 Product Offering 24 Notes to the Financial What’s in an icon? 26 Statements 79 Branding 27 Major Individual Holdings 122 CEO’s Review 28 Shareholders’ Diary 122 Social Responsibility 35 Chairman’s Review 36 Finbond Group Limited & Finbond Mutual Bank Integrated Annual Report 2014 1 The Victor If you think you are beaten, you are. If you think you dare not, you don’t. If you like to win but think you can’t, It’s almost a cinch you won’t. If you think you’ll lose, you’re lost. For out in the world we find Success begins with a fellow’s will. -
Transformation in Banking Report 2019
February 2020 TRANSFORMATION in banking 2016 - 2018 Contents 1. Foreword 2 2. Highlights 3 3. Introduction 4 4. Methodology 5 5. Data and analysis 6 About this report Ownership 7 This report is produced by Intellidex (Pty) Ltd Management 8 1st Floor, Building 3 Skills development 12 Inanda Greens Office Park 54 Wierda Road West Socioeconomic development 14 Sandton South Africa Procurement 14 Email: [email protected] Consumer education 15 Web: www.intellidex.co.za Tel: +27 (0)10 072 0472 Empowerment financing 17 Disclaimer Intellidex was commissioned by the Banking While Intellidex believes all information in this report to be accurate, Intellidex makes no representations Transformational infrastructure 17 Association South Africa (BASA) to produce or warranties regarding the completeness, accuracy this report from data supplied from member or reliability of any information, facts, estimates, forecasts or opinions contained in this document. The Black agricultural financing 18 banks. information and opinions could change at any time without prior notice. Intellidex, its directors, officers, The report reflects transformation in the staff, agents or associates shall have no liability for Black SME financing 18 any loss or damage of any nature arising from the use banking industry and its progress towards of this document. achieving the targets set out in the Financial Affordable housing 19 Sector Code. Copyright Supplier development contribution 20 ©2020. This document is copyrighted to the Banking The publication serves as a report to society Association South Africa. It may be distributed in on the contribution of the banking industry this form without prior permission, but prior written B-BBEE transaction financing 20 permission must be obtained before using the to the development of the country, and content in another form. -
Enabling Commerce in the World's Most Under Penetrated Payments
Enabling Commerce In The World’s Most Under Penetrated Payments Market Network International Holdings Plc Annual Report and Accounts 2019 Network International Holdings Plc 01 Annual Report and Accounts 2019 We are Network International, the leading payment solutions provider in the Middle East and Africa. Our innovative solutions drive revenue and profitability for our customers. To read our Annual Report online go to www.network.ae Market opportunity Under penetrated payments markets R Read more on page 10 Business model A unique We are enabling and leading the transition from cash proposition to digital payments across the Middle East and Africa, one of the fastest growing payments markets in the world. R Read more on page 14 Strategic Report Governance Financial Statements 2019 Highlights 02 Corporate Governance Report 72 Independent Auditor’s Report 138 Our Industry 04 Board of Directors 74 Consolidated Statement Strategy in action Our Business at a Glance 06 Executive Management Team 76 of Financial Position 144 Chairman’s Statement 08 Audit and Risk Committee Report 88 Consolidated Statement of Profit or Loss 145 Market Overview 10 Nomination Committee Report 100 Market leading Consolidated Statement of Our Track Record 12 Directors’ Remuneration Report 102 other Comprehensive Income 146 Our Business Model 14 Directors’ Report 130 Consolidated Statement technology Chief Executive Officer’s Review 16 Going Concern Statement of Changes in Equity 147 Our Strategic Framework 20 and Viability Statement 136 Group Statement of Cash Flows -
The Study of the Emergence of Entry-Level Bank Branches in South Africa
The Study of the Emergence of Entry-level Bank Branches in South Africa Final Report July 2013 The Study of the Emergence of Low Cost Bank Branches in South Africa Date: 2013/06/21 Contact Information Genesis Analytics (Pty) Ltd Office 3, 50 Sixth Road Hyde Park, 2196, Johannesburg South Africa Post to: PO Box 413431, Craighall, 2024 Johannesburg, South Africa Tel: +2711 994 7000 Fax: +2711 994 7099 www.genesis-analytics.com Authors Darrel Orsmond Kalila Mackenzie Tholoana Mokoena Craig van Rensburg www.genesis-analytics.com Covering Letter / Forward The Centre for Financial Regulation & Inclusion The Vineyards Office Estate Farm Farm 2, Regent House 99 Jip de Jager Drive Belville Cape Town South Africa 7530 Attention: Mia Thom Dear Mia, It is with great pleasure that we send to you the final report on the emergence of low-cost bank branches in South Africa. Sincerely Genesis-Analytics Team Table of Contents EXECUTIVE SUMMARY ................................................................................ I 1. INTRODUCTION ...................................................................................... I 2. THE SHIFTING BANKING LANDSCAPE ............................................... II 3. ENTRY-LEVEL BANKING STRATEGIES ............................................. III 4. EMERGING TRENDS ............................................................................. IV 5. KEY FINDINGS: COMMON ELEMENTS OF AN ENTRY-LEVEL BANKING STRATEGY ........................................................................... VI 6. CONSIDERATIONS -
Financial Inclusion Policy
AN INCLUSIVE FINANCIAL SECTOR FOR ALL Draft for consultation AN INCLUSIVE FINANCIAL SECTOR FOR ALL Draft for consultation To obtain additional copies of this document, please contact: Communications Directorate, National Treasury, Private Bag X115 Pretoria, 0001, South Africa Tel: +27 12 315 5757 | Fax: +27 12 406 9055 The document is also available on the internet at: www.treasury.gov.za AN INCLUSIVE FINANCIAL SECTOR FOR ALL Draft for consultation TABLE OF CONTENTS LIST OF ACRONYMS, FIGURES, AND TABLES ........... vii 3.1.3. Treating customers fairly (TCF) EXECUTIVE SUMMARY ................................................ 1 framework ................................................................... 31 1 INTRODUCTION ..................................................... 8 3.1.4. Financial Sector Regulation Act ..................... 31 1.1. What is financial inclusion 3.1.5. Parliamentary enquiry into and why is it important? ........................................................8 transformation of the financial sector ....... 32 1.2. Policy objectives and scope ............................................. 12 3.1.6. The Financial Intelligence Centre Act ........ 33 1.2.1. Objectives .................................................................... 12 3.1.7. Insurance Act ............................................................ 33 1.2.2. Scope ............................................................................. 12 3.1.8. Review of banking and payment methods in distributing social grants ........ 34 2 SOUTH AFRICA’S -
Moral Values and Ethics As Antidotes for Corruption in the South African Public Service and Administration
Original Research www.koersjournal.org.za AUTHOR: Moral Values and Ethics as 1Dr BK Lekubu https://orcid.org/0000-0002-3570-6818 Antidotes for Corruption in the 2Prof Omphemetse S. Sibanda https://orcid.org/0000-0001-5547-9600 South African Public Service and AFFILIATION: Administration 1School of Criminal Justice Department Police Practice University of South Africa ABSTRACT 2Faculty of Management and Law, University of Limpopo, School of Law This paper examines the relationship between morals, ethics, public administration and corruption. The argument advanced is that morals and ethics are antidotes for bureaucratic corruption in public service and administration. Currently there seems to be low ethics and morality in public service CORRESPONDENCE TO: [email protected] and administration in South Africa. The discussions in this paper consider the obligations under the South African National Development plan 2030, African Union Convention on Preventing DATES: and Combating Corruption, the African Charter on Values and Principles of Public Service Published: 7 September 2021 and Administration, and the African Charter on the Values and Principles of Decentralization, HOW TO CITE THIS ARTICLE: Local Governance and Local Development for a corruption free and ethical public service and Lekubu, B.K. & Sibanda, O.S., 2021. administration. Moral Values and Ethics as Antidotes Keywords: African Union, Corruption, Ethics, Morals, Leadership, Public Administration, Public for Corruption in the South African Agents, Public Services, Public Interest Public Service and Administration. KOERS — Bulletin for Christian Scholarship, 86(1). Available at: https:// doi.org/10.19108/KOERS.86.1.2482 COPYRIGHT: © 2021. The Author(s). Published under the Creative Commons Attribution License. -
Registered Attendees
Registered Attendees Company Name Job Title Country/Region 1996 Graduate Trainee (Aquaculturist) Zambia 1Life MI Manager South Africa 27four Executive South Africa Sales & Marketing: Microsoft 28twelve consulting Technologies United States 2degrees ETL Developer New Zealand SaaS (Software as a Service) 2U Adminstrator South Africa 4 POINT ZERO INVEST HOLDINGS PROJECT MANAGER South Africa 4GIS Chief Data Scientist South Africa Lead - Product Development - Data 4Sight Enablement, BI & Analytics South Africa 4Teck IT Software Developer Botswana 4Teck IT (PTY) LTD Information Technology Consultant Botswana 4TeckIT (pty) Ltd Director of Operations Botswana 8110195216089 System and Data South Africa Analyst Customer Value 9Mobile Management & BI Nigeria Analyst, Customer Value 9mobile Management Nigeria 9mobile Nigeria (formerly Etisalat Specialist, Product Research & Nigeria). Marketing. Nigeria Head of marketing and A and A utilities limited communications Nigeria A3 Remote Monitoring Technologies Research Intern India AAA Consult Analyst Nigeria Aaitt Holdings pvt ltd Business Administrator South Africa Aarix (Pty) Ltd Managing Director South Africa AB Microfinance Bank Business Data Analyst Nigeria ABA DBA Egypt Abc Data Analyst Vietnam ABEO International SAP Consultant Vietnam Ab-inbev Senior Data Analyst South Africa Solution Architect & CTO (Data & ABLNY Technologies AI Products) Turkey Senior Development Engineer - Big ABN AMRO Bank N.V. Data South Africa ABna Conseils Data/Analytics Lead Architect Canada ABS Senior SAP Business One -
A STRATEGIC ANALYSIS of CAPITEC BANK LIMITED WITHIN the SOUTH AFRICAN BANKING INDUSTRY by Michael Coenraad De Lange
A STRATEGIC ANALYSIS OF CAPITEC BANK LIMITED WITHIN THE SOUTH AFRICAN BANKING INDUSTRY By Michael Coenraad de Lange Submitted in partial fulfilment of the requirements for the degree of MAGISTER IN BUSINESS ADMINISTRATION at the Nelson Mandela Metropolitan University Business School Research Supervisor: Prof JA Jonker November 2013 DECLARATION I hereby declare that the above-mentioned treatise is my own work and that it has not previously been submitted for assessment to another University or for another qualification. I further declare that I followed all the applicable ethical guidelines in the conducting the research. Signed: Michael de Lange Date: November 2013 i ACKNOWLEDGEMENTS This research study would not have been possible to complete without the valuable contributions and support of the following people: To my research supervisor, Professor Kobus Jonker, for his dedication, support and professional advice in helping me complete this study; To my girlfriend Jess, for all her understanding and willingness, her support, undying love and dedication in helping me throughout the duration of my MBA; To my family, for believing in me and providing the necessary support and for raising me to be a dedicated and disciplined individual in order to reach my goals and complete this research study. DEDICATION This research treatise is dedicated to my late father who tragically passed away last year. He was an inspiration to us all and my hero. Gone but never forgotten. Thank you Dad. ii ABSTRACT The South African banking industry is well regulated and oligopolistic by nature. The financial sector in South Africa is of a world class standard, comparing favourably to that of developed economies i.e. -
Bidvestco Programme Information Statement
BRR/SM 06042021/RENN0955.46 Information Statement_Execution/#6665874v1 BIDVESTCO LIMITED (Registration Number 1966/011512/06) (Established and incorporated as a public company with limited liability in accordance with the laws of South Africa) Guaranteed by THE BIDVEST GROUP LIMITED (Registration Number 1946/021180/06) (Established and incorporated as a public company with limited liability in accordance with the laws of South Africa) INFORMATION STATEMENT in respect of Bidvestco Limited's ZAR12,000,000,000 Domestic Medium Term Note and Commercial Paper Programme Bidvestco Limited (the "Issuer") may from time to time issue notes (the "Notes") under its ZAR12,000,000,000 Domestic Medium Term Note and Commercial Paper Programme (the "Programme") on the terms and conditions set out in the programme memorandum dated 6 April 2021, as amended or restated from time to time (the "Programme Memorandum"). Capitalised terms used in this information statement (the "Information Statement") and not otherwise defined herein, have the meanings ascribed to those terms in the section of the Programme Memorandum entitled "Terms and Conditions of the Notes" under the heading "Interpretation". Availability of Information This Information Statement and the Programme Memorandum are also available on the Issuer's website at https://www.bidvest.co.za/dmtn-cp.php. This Information Statement is incorporated by reference into the Programme Memorandum. The only information on the Issuer's website which is incorporated by reference into the Programme Memorandum are those documents which are specifically so incorporated by reference as set out in the section headed "Documents Incorporated by Reference" in the Programme Memorandum. Information Statement dated 6 April 2021. -
Ratings on Eight South African Financial Institutions Lowered Following Similar Action on Sovereign
Ratings On Eight South African Financial Institutions Lowered Following Similar Action On Sovereign Primary Credit Analysts: Matthew D Pirnie, Johannesburg (27) 11-214-4862; [email protected] Samira Mensah, Johannesburg (27) 11-214-4869; [email protected] Kuziva Murigo, Johannesburg +27 11 214 4866; [email protected] • On Nov. 24, 2017, we lowered our long-term foreign currency ratings on South Africa to 'BB' from 'BB+'. • We do not rate financial institutions in South Africa above the foreign currency sovereign ratings, given the direct and indirect impact that sovereign distress would have on domestic banks' operations. • As a result, we are lowering our ratings on six financial institutions and two bank holding companies operating in South Africa. JOHANNESBURG (S&P Global Ratings) Nov. 29, 2017--S&P Global Ratings said today that it had lowered its ratings on six South Africa-based financial institutions and two related holding companies, as well as its national scale rating on the domestic medium-term note (MTN) program issued by BNP Paribas through its local branch. Specifically, the rating actions are as follows: • Capitec Bank Ltd.: We lowered the long-term issuer credit rating to 'BB' from 'BB+' and affirmed the 'B' short-term issuer credit rating. The outlook is stable. We also lowered our long-term South Africa national scale rating to 'zaAA-' from 'zaAA' and affirmed the 'zaA-1+' short-term national scale rating. • FirstRand Bank Ltd.: We lowered the long-term issuer credit rating to 'BB' from 'BB+' and affirmed the 'B' short-term issuer credit rating. The outlook is stable. -
Programme Memorandum
0 Programme Memorandum (Incorporated with limited liability in South Africa under registration number 1980/003695/06) ZAR 2 000 000 000 Domestic Medium Term Note Programme Issuer Arranger, Lead Manager and Sponsoring Member Dealers Legal Advisers to the Issuer Legal Advisers to the Arranger This Programme Memorandum is dated 25 April 2008 1 PROGRAMME MEMORANDUM CAPITEC BANK LIMITED (Incorporated with limited liability in South Africa under registration number 1980/003695/06) ZAR2 000 000 000 Domestic Medium Term Note Programme Under this ZAR2 000 000 000 Domestic Medium Term Note Programme (the “Programme”), Capitec Bank Limited (the "Issuer") may from time to time issue notes of any kind (the "Notes"). Capitalised terms used below are defined in the terms and conditions contained in the sections of this Programme Memorandum headed "Terms and Conditions of the Unsubordinated Notes, Tier 2 Notes and Tier 3 Notes" and "Terms and Conditions of the Tier 1 Notes". Save where expressly otherwise provided, references in this Programme Memorandum to the “Terms and Conditions” are, in the case of Tier 1 Notes, to the terms and conditions contained in the section of this Programme Memorandum headed "Terms and Conditions of the Tier 1 Notes" and, in the case of any other Notes, to the terms and conditions contained in the section of this Programme Memorandum headed "Terms and Conditions of the Unsubordinated Notes, Tier 2 Notes and Tier 3 Notes". Save as set out this Programme Memorandum, the Notes will not be subject to any minimum or maximum maturity and the maximum aggregate Principal Amount of all Notes from time to time outstanding will not exceed ZAR2 000 000 000. -
The South African Reserve Bank's Assessment of Systemic Risk in The
Introductory remarks by Francois Groepe, Deputy Governor of the South African Reserve Bank, at the Financial Stability Forum and release of the first edition of the Financial Stability Review for 2018 South African Reserve Bank, Pretoria 25 April 2018 Members of the press, guests and colleagues, ladies and gentlemen. Welcome to the release of the first edition of the Financial Stability Review (FSR) for 2018. The FSR has been published twice a year since 2004. Through this publication, the South African Reserve Bank (SARB) communicates its assessment of systemic risk in the domestic financial system. Your presence at this Financial Stability Forum is appreciated, as the forum intends to encourage informed debate on, and therefore to enhance the understanding of, the complex and challenging matters related to financial stability. Consensus is growing globally that regulatory frameworks should focus more on mitigating the risks to the financial system as a whole, as significant risks can build up and threaten the stability of the financial system while individual financial institutions seem stable and sound. In pursuing this goal, the Financial Sector Regulation Act 9 of 2017 (FSR Act) confers on the SARB an explicit statutory mandate to protect and enhance financial stability. The SARB and National Treasury have consequently developed new legislation that will facilitate the orderly resolution of systemically important financial institutions that are failing, which is an important pillar of the SARB’s expanded mandate. This legislation will be effected through amendments to the FSR Act. A key component of the resolution framework is the establishment of an explicit deposit insurance scheme for banks in order to protect depositors from losses in the event of a bank failure.