The global economy is extremely unstable and volatile at the moment. Most notably are the Covid-19 pandemic and the Russian invasion of Ukraine causing commodity prices to skyrocket. This is causing far-reaching economic, societal and humanitarian consequences.

The world is indeed a village, and in South Africa, this unpredictability has been intensified by ongoing power interruptions, civil unrest, poverty and unemployment. The catastrophic floods in KZN have added to already-constrained global supply-chain issues, impacting heavily on our import and export markets.

Lifestyle and investment options outweigh the challenges

Yet, despite our challenges, the country remains a promising emerging market that is still lucrative for foreign investment. Foreign nationals living in South Africa will understand the attraction. Our economy remains the largest, most diversified, industrialised and technologically advanced in Africa. The cost of doing business here compares favourably with other emerging countries, and South Africa is considered a safe investment destination that offers solid returns on investments.

South Africa is also a gateway into the rest of Africa, which remains largely untapped. Our natural resources are an excellent underpinning for economic activity, and we have the skills and capabilities to compete globally. According to the Expat Quality of Life Index, South Africa is recognised as one of the best countries in the world in which to live, as it has one of the best climates, offers a remarkable lifestyle at a relatively low cost, and boasts everything from game lodges to winelands and beaches.

Providing for all your non-resident banking needs

At Nedbank Non-resident and Embassy Banking, we understand the challenges and opportunities of being a foreign-registered business operating in South Africa, and we’re geared up to maximise your financial affairs for you. Our business banking specialists set up and manage your rand-based or foreign-currency business account, offering round-the-clock support and easy-to-use digital channels. Our unique financial options cater for your business, employees and their households, giving them local transactional accounts with foreign trade, home loan and vehicle financing access.

Through specialised banking, managed by a team of expert consultants, we can fulfil your investment needs in local markets even if you’re a non-resident. As an authorised dealer, we provide you with investment opportunities that fit your goals and risk appetite through our world-class property market and rewarding currency.

Nedbank’s Non-Resident and Embassy Banking products can be tailored to suit your unique business needs and provide the insight, understanding and opportunities you need to reach your goals and ambitions, so you can enjoy everything else South Africa has to offer.

To find out more about how Nedbank can provide tailored financial services for you or your foreign-owned business, from top-of-the-range exchange control services to a dedicated banker and round-the-clock helpdesk, please email our team.