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Top Finance Companies in Africa | |||
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Financing in Africa has always been problematic. The local banks in Africa are often unstable and corrupt; as a result the governments and industry rely on international banks. Only South Africa has a thriving financial sector, aided by the international sanctions of the apartheid era, which forced out the once-dominant British banks. After independence, the African governments heavily regulated the financial sector and restricted the limits on international competition. Recently the financial sector in Africa is undergoing reform under the IMF and World Bank. One primary reform was getting permission for increasing the penetration by foreign banks. South Africa has attracted the foreign banks in local operations most successfully. The Top Financial Companies of Africa are Grindrod, Aquarius, Highveld Steel, Schamin, Sun International, Brimstone, MTN, Scharrig Mining, Merafe, Hyprop, Iliad, Mvela, Sasfin, Atlas, BHP Billiton, Mittal, Trencor, Foschini, Edcon, Sovereign Foods.
The Foundation for the Development of Africa (FDA) is rated as one of the most positive. The financial companies in Nigeria became prominent after 1986 with the liberalization of the financial sector. The financial companies in the Nigerian have evolved over the years. The first commercial bank was set up in 1892 and in July 1 1959 the Central Bank of Nigeria (CBN) came into operation. The sector has evolved gradually and several advances have been made to date. Nigeria financial sector comprises of the regulatory or supervisory authorities; money market and its institutions; capital market and its institutions; development finance institutions; and others. All the finance companies in Africa deal with providing credit or debits to help individuals and corporate associations in dealing with their monetary transactions. The types of finance companies in Africa are Banks, NBFC also known as Non Banking Finance Companies, Life and General Insurance Companies, Mutual Fund Companies involved in asset management activities, and Capital Market Companies. For more information on top financial companies of Africa visit our web site. |
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