This sector is quite simply huge. Despite upturns, downturns, the Banking and Micro-finance sector continues to be one of the most sought after destinations for newly qualified graduates. This has led to increased competition for jobs. The banking and micro-finance industry offers a diverse range of careers in all aspects of business. It is therefore possible to explore various career options. The majority of career fields can be found in some form within banking and microfinance, whether you want to work with people, processes or technology.

The banking and microfinance industry in South Africa South Africa has a well-developed banking sector that dates back to the 18th Century. Today, it operates in sophisticated local and world markets using the most advanced technologies, with the main scope of business being monetary intermediation. Banks are the custodians of the general public’s money, which they accept in the form of deposits and pay out on clients’ instructions. On the other hand the microfinance sector is a very diverse one and is comprised of:

  • Banks – including mainstream banks as well we those operating specifically in the microfinance sector;
  • Non-Governmental organisations which are donor funded organisations or Retail Financial Institutions (RFIs) working with government or donor funds, operating in the small business, housing and agricultural markets; and
  • Micro and small companies operating as cc’s mostly offering short term loans to individual borrowers.

Banks are involved in a wide range of activities, which can be divided into two broad categories:

  1. Interest related activity – the acceptance of deposits (on which interest is paid), and the granting of loans (on which interest is received). This allows a bank to earn a margin from the difference between the two interest rates.
  2. Non-interest related activity – service fee income; commissions; trading on own account on money and capital markets; dividends and profits from sale of assets.

So, why work in banking and microfinance? Well, for the sector to be globally competitive, its cost-to-income ratio must be comparable to international companies. South African banks are cost-efficient and are continuously improving. Thus there is a growing need for highly skilled people in the smaller banks and in specialised areas of the large banks. The banking and microfinance industry’s global nature means that employees have access to international opportunities. Take this opportunity to explore the diverse career offerings and discover your ideal career.