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More co-operative banks needed in SA
There are currently only two co-operative banks operating in South Africa and Finance Minister Pravin Gordhan says that another 19 are being considered for registration according to an article published in The Citizen.
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'
