In South Africa, small businesses contribute significantly to job creation and inclusive growth – especially in the local communities. Despite tough trading conditions, small businesses remain the backbone of the economy as they account for 60% of employment and contribute 34% to the gross domestic product . As financial experts who do good, Nedbank has long been on a journey to serve and support this critically important small-business sector in South Africa.
In fact, our support for small businesses goes beyond affordable banking solutions. We have been at the forefront of the development of banking products, relief programmes and innovations to alleviate the strain on microenterprises and small businesses.
We realise that access to human relationships in the form of dedicated relationship bankers remains a critical resource in underserved communities for small-business owners who require practical help and guidance. We look forward to expanding our small-business offering in Mpumalanga and providing a best-in-market relationship banking experience to business owners. As financial experts who do good, Nedbank remains committed to helping small businesses grow and thrive. In fact, we were recently recognised as the Best Bank for Small and Medium Enterprises in Africa at the Asian Banker Excellence in Retail Financial Services International Awards 2022.