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South Africa

Who we are

South Africa at a glance

South Africa is located in southern Africa with a diverse population of over 59 million people. It is divided into nine provinces, each with its capital city. Gauteng is the most populous province with over 14 million people, while the Northern Cape has the smallest population with just over a million people.

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city beside body of water and mountains

Banking

The banking and financial sector is well-developed and regulated by the South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA). The SARB is responsible for monetary policy, banking supervision and regulation, while the FSCA regulates and authorizes peer-to-peer lending platforms in the country. There are approximately 40 financial institutions operating in the country, with some of the largest being Standard Bank, First National Bank, Absa Bank and Nedbank. The central bank of South Africa is the South African Reserve Bank (SARB).
Website: https://www.resbank.co.za/
Address: South African Reserve Bank, 370 Helen Joseph Street,Pretoria, 0002,South Africa
Email: info@resbank.co.za.

Peer-to-Peer Lending Regulations

Peer-to-peer (P2P) lending is regulated by the National Credit Regulator (NCR) and the Financial Sector Conduct Authority (FSCA). National Credit Regulator (NCR):
Website: https://www.ncr.org.za/
Email: info@ncr.org.za
Phone: +27 11 554 2600

Financial Regulators

The primary financial regulator in South Africa is the Financial Sector Conduct Authority (FSCA)
Website: https://www.fsca.co.za/
Email: info@fsca.co.za
Contact: +27 800 110 443

Small Claims Procedure

The Small Claims Court in South Africa is a simplified court process that allows for the resolution of minor civil disputes. The procedure for filing a small claim varies by province, and the maximum amount that can be claimed is R20,000. Small claims courts are located in various towns and cities across the country, and the process is intended to be affordable and accessible to everyone. More information on the small claims procedure is found on the Department of Justice and Constitutional Development’s
website: https://www.justice.gov.za/forms/smallclaims.htm.