Over the decade to 2003, indeed since democracy in 1994, Gauteng has become the financial services centre of the country. Firms locate around financial centres, attracting both real and portfolio investment. The financial sector contributes a significant percentage – 24.7% - of Gauteng’s gross geographic product (GGP), this is expected to rise to 25.5% in 2004.

The liberalization of South Africa’s financial markets has given the sector impetus, as indicated by the average growth rate between 1994 and 2001 of 5.1%. The average growth rate between 2002 and 2008 has been forecasted conservatively at 2.3%.

Those active in financial services face tight anti-money laundering legislation, compliance with the Financial Sector Charter, Basel ll requirements, King ll corporate governance requirements and regulatory changes