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The Finance and Insurance Sector includes businesses and organisations engaged in the handling and facilitation of financial transactions, investments and insurance.
The Chamber supports local area and sector development by providing the following:
1. Enterprise development - increasing awareness of opportunities for learning, development and links to expertise.
2. Networking events - enabling members to connect with new customers, suppliers, experts and decision-makers.
3. Support sector associations to strengthen their cluster facilitation capabilities.
4. Strengthening of dialogue with the public sector - towards more effective public investment, smarter service delivery, procurement efficacy and to stop doing what the private sector can do with greater efficacy.
An independent, regulated and functioning financial system is required to ensure that the economy continues to grow and remains attractive for international investment. The Sector has been through turbulent times, enduring international market volatility and the Covid-19 pandemic as well as the associated negative impact on capital flows and investment opportunities.
However, finance sectors have been innovative in their approach in order to attract and retain their customer base, and this has seen smaller firms enter the market and expand.
According to a June 2022 International Monetary Fund (IMF) report, South Africa’s insurance sector is large, complex, internationally active, and competitive. The sector was supported by high penetration and density of insurance products and accounts for 18% of the financial sector in South Africa.
As the Cape Chamber, we look forward to supporting and growing this key economic sector.
We welcome you to engage with us to improve the Finance & Insurance Sector.