Financial Services

FOREIGN interest in this sector, which contributes the highest percentage to Joburg’s economy, is strong, with financial services on 31 percent and businessservices contributing 21 percent. Combined the two sectors enjoy 52 percent of Foreign Direct Investment (FDI) in Joburg.

Opportunities exist for a diverse range of business and consultancy services in Johannesburg, from legal, accounting and insurance to architecture and engineering.

Financial giants

The Asian Bank of the Year (The Banker 2008) Industrial and Commercial Bank of China (ICBC) has a 20 percent stake in the Standard Bank Group, South Africa's largest banking group ranked by assets and earnings. The 2008 deal was the largest FDI into SA. Barclays Bank PLC has a 55,4 percent stake in ABSA, the third ranked financial services group. Joburg is also the South African headquarters for all the foreign and domestic banks operating in the country.

The four largest global consultancy firms, Deloitte & Touche, Ernst & Young, KPMG and PricewaterhouseCoopers, have their South African headquarters in Joburg.