Northern Cape Business 2017-18 edition

OVERVIEW and

OVERVIEW and Agricultural Development Bank of South Africa (Land Bank) is also a major participant in the Northern Cape financial sector. GWK is one of the biggest agricultural firms, with the GW standing for Griqualand West. It has its roots in the Northern Cape province and its headquarters are located in the town of Douglas. GWK has six units within its Corporate Services division and these mostly relate to finance: Finance, Financing, Risk Management and Financial Agricultural Advice. Farmers have a wide selection of products to choose from: production loans for the cultivation of products, livestock production loans, buyers accounts, auction accounts and instalment agreements for buying equipment, vineyard establishment and livestock. Senwes is another big agricultural company active in the Northern Cape, although its headquarters are in Klerksdorp, North West, and it is active across South Africa. It offers many products within its Credit division, including asset financing in collaboration with Wesbank. In 2017 Senwes and its holding company Senwesbel became the first new stocks to be listed on the country’s new stock exchange, the ZAR X. Upington-based KLK Landbou has insurance and medical cover products while OVK offers insurance and financing options. Kaap Agri has three offices in the Northern Cape where farmers can consult on financial matters. Improving access A high percentage of the population of the Northern Cape live in rural areas and are members of burial societies or saving groups (stokvels). South Africa’s “stokvel” (savings club) market is worth about R44-billion: Sanlam is developing products to tap into that market. Finscope’s 2014 survey of South African banking and financial surveys shows that between 2004 and 2014 a remarkable eight-million people were connected to the financial system in some way. Overall, the “financially included” reached 31.4-million (up from 17.7-million in 2004). In a category called “formally served” which includes services other than formal banks with branch networks, the percentage of South Africans so served grew from 50% to 80%; in the “banked” category (more traditional but including new devices), the percentage grew from 46% to 75%. Among innovations designed to reach the unbanked were Teba Bank allowing customers to deposit at supermarkets, Absa launched two mobile banks, FNB also created mobile branches and most of Standard Bank’s new sites were planned for townships. Standard Bank’s community-banking initiative offers a low-cost cellphone-banking service. Retailers can act as agents for the bank, even in very remote rural areas. Nedbank has Approve-it, which allows customers to accept or reject an Internet transaction by cellphone. Nedbank also has partnerships with shops such as Boxer Stores and Pick n Pay where customers can have access to financial services in previously unserviced areas and also on all days of the week such as public holidays and Sundays. Some of Nedbank’s other innovations include Home Loans Online Digital Channel and Market Edge, together with the Nedbank App Suite. The Nedbank@Work product offers targeted service to employees of companies that bank with Nedbank, including free advice. The Keyona Plus account includes funeral cover, a loan facility and a method of transferring money. The Nedbank4me account is tailored to the youth market. ONLINE RESOURCES Association for Savings and Investment South Africa: www.asisa.org.za Auditor-General of South Africa: www.agsa.co.za Banking Association South Africa: www.banking.org.za Chartered Institute for Government Finance, Audit and Risk Officers: www.cigfaro.co.za Financial Services Board: www.fsb.co.za Institute of Bankers in South Africa: www.iob.co.za Office of the Ombudsman for Banking Services: www.obssa.co.za NORTHERN CAPE BUSINESS 2017/18 62

Our Offering for Small to Medium Businesses Your Day-to-Day Transacting Take up a BUSINESS CURRENT ACCOUNT and you will get a dedicated RELATIONSHIP MANAGER… Our Standard Bank Relationship Managers understand the importance the bank attaches in providing banking facilities to businesses across various sectors. A Business current account is the perfect vehicle for your daily transacting. It can be used for accepting payments made from your customers / stores to enabling you to make various payments to your suppliers. Accepting Customer Payments Our AUTOLINK PAYMENT TERMINAL is ready to go… Our AutoLink payment terminals are not only compact and easy to use, but it also gives you the option of personalising your own transactions. You can choose between two types of terminals to best suit your need: Stand-Alone Desktop Terminal: with built-in communication, which saves you money as you do not need to pay for a separate communication line Portable Terminals; are great to avoid payment queues, they also do not require electricity to work Free Access to Merchant Online: an online selfservice platform designed to give merchants online access to statements and value-added tools, tips and resources Access to Full Support Services: • FREE merchant education • FREE device software updates • FREE Installation Our BluMobi device for instant payment… BluMobi is an EMV certified mobile point-of-sale solution which allows you to process PIN-based MasterCard® and/or Visa debit and credit card payments instantly and securely wherever there is a cellular network connection. With BluMobi, you don’t have to wait for customers to pay via EFT. Your transactions are settled into your account the same day. SnapScan Our SnapScan for business offering is a quick and easy method for you and your customers, and works with any South African bank. When you’re sending out bills, you want to make it as easy as possible for your clients to pay you. SnapScan a easily integrate with your current paper, e-mail or SMS invoices, allowing your customers to pay you from the comfort of their home. QR CODE PLACED ON A PHYSICAL STAND QR CODE PLACED ON A NAME TAG For more information regarding our offerings speak to your dedicated relationship manager