{"id":471055,"date":"2021-05-05T14:18:05","date_gmt":"2021-05-05T14:18:05","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=471055"},"modified":"2021-05-05T14:18:05","modified_gmt":"2021-05-05T14:18:05","slug":"south-africa-towards-the-creation-of-a-new-state-bank","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/05\/05\/south-africa-towards-the-creation-of-a-new-state-bank\/","title":{"rendered":"South Africa: towards the creation of a new state bank"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The South African National Treasury has announced that it will continue with plans to introduce a new state bank. A tool that will essentially be put in place to help the most vulnerable populations in the country.<\/p>\n<p>Speaking on this issue Tuesday, May 4 in the National Assembly, the Director General of the Treasury, Dondo Mogajane, indicated that the new bank was part of the structural reforms announced by President Cyril Ramaphosa in his post-Covid recovery plan. 19. The new financial institution should, he informs, help the poorest South African populations to find financing.<\/p>\n<p>In addition, the person in charge deplores the delay of the project due to the slowness of the members of the committee. Dondo Mogajane also said that much of the technical work for the new bank is now complete, and that a memorandum has been prepared for the ministry that describes some of the possible forms the bank could take.<\/p>\n<p>During the plenary session, two major proposals were made by parliamentarians. It is about abolishing the current Postbank and creating a new financial institution backed 100% by the state. But also to dissolve some of the country&#8217;s development finance institutions (DFIs), such as Ithala, into a single entity.<\/p>\n<p>As a reminder, the head of state argued in February 2021 that the country&#8217;s banking sector is only controlled by a few banks. South Africans, he said, need more options to access loans.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The South African National Treasury has announced that it will continue with plans to introduce a new state bank. A tool that will essentially be put in place to help the most vulnerable populations in the country. Speaking on this issue Tuesday, May 4 in the National Assembly, the Director General of the Treasury, Dondo<\/p>\n","protected":false},"author":536116,"featured_media":471056,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[16158,12000,11996],"tags":[12295,18156,556,17299,18155,14589],"class_list":["post-471055","post","type-post","status-publish","format-aside","has-post-thumbnail","category-bank","category-banks-insurance","category-finance-en","tag-bank-en","tag-new-state-bank","tag-south-africa","tag-state","tag-the-creation","tag-towards","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>South Africa: towards the creation of a new state bank - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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We aspire to neutrality, but we assume our subjectivity\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.financialafrik.com\/en\/2021\/05\/05\/south-africa-towards-the-creation-of-a-new-state-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa: towards the creation of a new state bank\" \/>\n<meta property=\"og:description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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