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Financial Services

 

 

 

Opportunities exist for a diverse range of business and consultancy services in Johannesburg, from legal, accounting and insurance to architecture and engineering.

 

Foreign interest in this sector, which contributes the highest percentage to Johannesburg’s economy, is strong, with financial services on 31 percent and business services contributing 21 percent. Combined, the two sectors enjoy 52 percent of Foreign Direct Investment (FDI) in Johannesburg.

 

Financial giants

The Asian Bank of the Year (The Banker 2008) Industrial and Commercial Bank of China (ICBC) has a 20 percent stake in the Standard Bank Group, South Africa's largest banking group ranked by assets and earnings. The 2008 deal was the largest FDI into SA. Barclays Bank PLC has a 55.4 percent stake in ABSA, the third ranked financial services group. Johannesburg is also the South African headquarters for all the foreign and domestic banks operating in the country.

 

The four largest global consultancy firms, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers, have their South African headquarters in Johannesburg.

 

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