More co-operative banks needed in SA

It says the government appears to want to encourage more co-operative banks to open in South Africa and he has instructed the Banking Association and the Co-operative Financial Institutions' Association to get together to find ways of co-operating with each other.

Co-operative banking is most prevalent in the Western Cape and is based largely on savings contributed by members.

Read more:

• The Citizen: 'Co-operative banks to be encouraged'