Limpopo Business 2017-18 edition
A unique guide to business and investment in Limpopo. Limpopo Business 2017/18 is the ninth edition of this highly successful publication that has, since its launch in 2007, established itself as the premier business and investment guide to the Limpopo Province. This edition of Limpopo Business is officially endorsed by the Office of the Premier of Limpopo. This book contains detailed insights into the plans of the Limpopo Economic Development Agency (LEDA) and the recently launched bus rapid transport system for the provincial capital, Leeto la Polokwane, together with a comprehensive register of all provincial government and municipal contact details. Investment news related to mining, telecommunications and tourism is carried in overviews of all the main economic sectors. To complement the extensive distribution of the print edition of the magazine, the publication is also available online at www.limpopobusiness.co.za.
A unique guide to business and investment in Limpopo.
Limpopo Business 2017/18 is the ninth edition of this highly successful publication that has, since its launch in 2007, established itself as the premier business and investment guide to the Limpopo Province. This edition of Limpopo Business is officially endorsed by the Office of the Premier of Limpopo.
This book contains detailed insights into the plans of the Limpopo Economic Development Agency (LEDA) and the recently launched bus rapid transport system for the provincial capital, Leeto la Polokwane, together with a comprehensive register of all provincial government and municipal contact details. Investment news related to mining, telecommunications and tourism is carried in overviews of all the main economic sectors.
To complement the extensive distribution of the print edition of the magazine, the publication is also available online at www.limpopobusiness.co.za.
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OVERVIEW<br />
Banking and financial services<br />
The provincial government is creating an insurance company.<br />
SECTOR INSIGHT<br />
New banks will improve<br />
access for rural residents<br />
• NTK and VKB provide<br />
financial services to<br />
farmers.<br />
Three new banks are set to make their debuts on the South African<br />
market. In addition, the <strong>Limpopo</strong> Provincial Government, through<br />
the <strong>Limpopo</strong> Economic Development Agency, intends to establish<br />
a local life insurance company which it expects to start<br />
operating in <strong>2017</strong>.<br />
All of the banks are state-owned entities. The intention behind<br />
this (and the provincial insurance) initiative is to make banking more<br />
accessible for rural communities and to make finance more readily<br />
available to small and micro-sized businesses. Trying to integrate small<br />
business into the mainstream economy is a major goal of national and<br />
provincial governments in South Africa.<br />
Life insurer MMI Holdings is also entering a partnership with African<br />
Bank to enable it to start taking deposits and loaning money. It intends<br />
to establish a R10-billion loan book.<br />
All the new banks come from state enterprises: Ithala, Postbank<br />
and Human Settlements Development Bank. The Ithala Development<br />
Finance Corporation is an enterprise funder in KwaZulu-Natal that has<br />
applied for a banking licence.<br />
In 2016, Postbank (part of the South African Post Office, SAPO)<br />
received a first-level licence. Once a board of directors has been<br />
appointed and a company<br />
formed, the Reserve Bank is likely<br />
to grant the full licence. The current<br />
Postbank focusses on taking<br />
deposits and savings accounts.<br />
Postbank has secured a R3.7-<br />
billion loan to enable it to open<br />
its own loan book.<br />
Three state entities are merging<br />
to create the new Human<br />
Settlements Development Bank:<br />
the National Housing Finance<br />
Corporation, the Housing Loan<br />
Fund and the National Urban<br />
Reconstruction and Housing<br />
Agency. The focus will be on<br />
financing housing for poorer<br />
households and for large statefunded<br />
housing projects. Part<br />
of the drive is to integrate cities<br />
better and to combat the legacy<br />
of the spatial divide that apartheid<br />
left behind. Private sector<br />
investment will be sought.<br />
<strong>Limpopo</strong> has its own bank,<br />
VBS Mutual Bank, which grew out<br />
of the Venda Building Society and<br />
operates mainly in the northern<br />
parts of the province. The Public<br />
LIMPOPO BUSINESS <strong>2017</strong>/<strong>18</strong><br />
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