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  1. Eligibility To Work
  2. Before You Leave Home
  3. Setting Up A Bank Account
  4. South Africa Revenue Requirements
  5. Contract or Permanent
  6. Commerce vs Banking
  7. Cost Of Living
  8. Useful Information

Commerce vs Banking

Destination: South Africa

Buildings

Commerce

The commerce and industry sector is extremely large in South Africa. The country is a leading producer of precious metals such as gold and platinum, base metals and coal - and is the world's fourth-largest producer of diamonds. South Africa's economic wealth has been created by the enormous amount of mineral deposits which in turn has spawned a secondary tier of support industries. Along with the rapid growth in commodities consumption by China and India, South Africa has seen a growth in employment opportunities in this sector.

Choosing one industry in the commerce sector over another really comes down to personal interest. Once you’ve determined the industry in which you want to work, you need to consider the factors which shape a company’s working environment. Understanding the following details should help you make an informed choice:

  • The size of the company or department.

  • Whether it offers a steep or flat hierarchy.

  • If there is a clear career path.

  • How entrepreneurial the company is (typically the smaller the environment the greater the opportunity to change things)

  • Opportunities for travel.

Banking

South African banks rank among the best in the world and in recent years many international investment banks have set-up branches in the country to take advantage on the growing economy. The Johannesburg Stock Exchange (JSE Ltd) is licensed as an exchange under the Securities Services Act, 2004 and holds the treasured position as one of the top 20 exchanges in the world in terms of market capitalisation. The cities of Johannesburg and Cape Town are where the main retail banks are located.

Working in the banking sector is challenging and constantly evolving; every day new financial products, ways of protecting against risk and technology are created. Companies in the banking sector – banks and financial services institutions – look to employ top quality candidates and offer competitive salaries, including the possibility of bonuses.

For further information on which banks in South Africa, visit www.finforum.co.za.

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