Whats are five south african economic goals?

Question

Whats are five south african economic goals?

Answer 1

1. Keep inflation low

2. maintain full employment

3. Keep Balance of Payments within manageable levels

4. Sustainable economic growth

5. Solid Government Fiscal policy

Answer 2

SBI’s South African CEO Vijay Jasuja confirmed that the bank might take the inorganic route to make its South African business profitable. "We need to have at least 20 branches in South Africa to make our retail venture profitable here.

If we try to expand in an organic manner, it may take one and half years, or even more. So, I am not ruling out the possibility of buying an established bank and achieve the goal almost immediately," Mr Jasuja said.

In fact, the banking business has been a profitable proposition in the country because of high service charges here. For an ATM withdrawal of 1000 rand, for example, a customer needs to pay as high as 14 rand to the bank. Similarly, service charges for credit card, telephone banking, and other business banking services are quite high compared to India.

The high banking service charges in South Africa are comparable only to Australia and Canada. The SBI, which has three branches in South Africa, has been present in the country for the last 10 years. The Bank of Baroda (BoB) which came to the South Africa in 1995, is the oldest Indian bank currently operating in the country.

Significantly, five banks — Absa, First National Bank, Nedbank, Standard Bank and Investec — have 92% market share in South Africa, leaving all other banks to scramble for the rest of the market. Global banks such as HSBC, Standard Chartered Bank, Deutsche Bank etc. have also been expanding in South Africa.

Mr Jasuja said, "With adequate investment in South Africa, we can increase our profits at least five times because of high margins of banking services here. At present, our revenues mostly come from legal banking and banking services for corporates."