Mpumalanga Business 2019/20 edition
The 2019/20 edition of Mpumalanga Business is the tenth issue of this highly successful publication that since its launch in 2008 has established itself as the premier business and investment guide for the province. In addition to the regular articles providing insight into each of the key economic sectors of the province, there is a special focus on the new life given to an established site at the Highveld Industrial Park and the Nkomazi Special Economic Zone (NSEZ). A useful article on what incentives are available to investors is included, and the Mpumalanga Economic Growth Agency (MEGA) gives investors some perspectives on what is available in the province. Mpumalanga has several investment and business opportunities in a wide range of sectors. Updated information on Mpumalanga is also available through our monthly e-newsletter, which you can subscribe to online at www.gan.co.za, in addition to our complementary business-to-business titles that cover all nine provinces as well as our flagship South African Business title. Chris Whales Publisher, Global Africa Network Media
The 2019/20 edition of Mpumalanga Business is the tenth issue of this highly successful publication that since its launch in 2008 has established itself as the premier business and investment guide for the province.
In addition to the regular articles providing insight into each of the key economic sectors of the province, there is a special focus on the new life given to an established site at the Highveld Industrial Park and the Nkomazi Special Economic Zone (NSEZ). A useful article on what incentives are available to investors is included, and the Mpumalanga Economic Growth Agency (MEGA) gives investors some perspectives on what is available in the province.
Mpumalanga has several investment and business opportunities in a wide range of sectors.
Updated information on Mpumalanga is also available through our monthly e-newsletter, which you can subscribe to online at www.gan.co.za, in addition to our complementary business-to-business titles that cover all nine provinces as well as our flagship South African Business title.
Chris Whales
Publisher, Global Africa Network Media
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OVERVIEW<br />
Banking and financial<br />
services<br />
Digital banking is on the rise.<br />
Embalenhle has a new Ubank branch. Situated at the Mall@<br />
Emba, the branch will serve customers from Secunda and<br />
other areas such as those that used to bank at a branch at<br />
the Kinross mine, which has been closed.<br />
In line with modern trends towards digital banking, the new Ubank<br />
branch has internal and external facing digital walls. The screens<br />
promote new products and campaigns, give customers information<br />
and provide financial education. A feature that is designed to support<br />
local artists is the Feature Wall.<br />
All of the big retail banks (Nedbank, Absa, Standard Bank, Capitec<br />
and First National Bank) are present in the province’s major towns.<br />
Agriculture is an important focus area for banks, and most have<br />
specialised divisions such as Nedbank Agribusiness.<br />
TWK Agri offers financing and insurance together with the usual<br />
suite of agricultural services. Afgri, one of the country’s biggest<br />
agricultural companies, offers financial services (financing and<br />
insurance) under the brand Unigro. It has another service called Gro<br />
Capital Financial Services which offers more complicated products.<br />
Another source of funding for farmers is the Land and Agricultural<br />
Development Bank of South Africa (Land Bank), a developmentfinance<br />
institution that falls under the Ministry of Finance. Standard<br />
Bank has a new black economic empowerment agricultural fund<br />
designed to support emerging farmers. The R500-million fund is<br />
designed to connect farmers who have received farms in land reform<br />
projects to agri-businesses that will buy their produce.<br />
The first new banking licence in nearly two decades was issued<br />
in <strong>20</strong>17, to TymeDigital. The bank has no physical branches although<br />
Tyme’s Money Transfer product, which it launched in <strong>20</strong>16, is available<br />
at Boxer and Pick n Pay. The banking licence is the first to be issued<br />
since Capitec was granted a licence by the South African Reserve<br />
Bank in 1999.<br />
ONLINE RESOURCES<br />
Financial Services Board: www.fsb.co.za<br />
Post Bank: www.postbank.co.za<br />
Public Investment Corporation: www.pic.gov.za<br />
SECTOR INSIGHT<br />
New banking licences have<br />
been granted.<br />
In a province with a high<br />
proportion of rural citizens such<br />
as <strong>Mpumalanga</strong>, the prospect of<br />
Postbank being upgraded to a<br />
full-service bank is positive news.<br />
The current Postbank focusses<br />
on taking deposits and savings<br />
accounts. Postbank has secured<br />
a R3.7-billion loan to enable it to<br />
open its own loan book. The large<br />
geographical footprint of the Post<br />
Office will make the bank easily<br />
accessible to even remote parts of<br />
the country.<br />
Banks are working hard to<br />
offer products to the previously<br />
unbanked. Nedbank has<br />
partnerships with shops such<br />
as Boxer Stores and Pick n Pay<br />
where customers can have access<br />
to financial services in previously<br />
unserviced areas.<br />
MPUMALANGA BUSINESS <strong><strong>20</strong>19</strong>/<strong>20</strong><br />
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