Welcome to the
Financial Sector Transformation Council
We at the FSTC aim to be the most powerful driving force behind a Transformed, Transparent and Accessible financial services sector in South Africa.
Our Mission
Our mission is to influence legislation and oversee the implementation of the Financial Sector Code, fostering a society where unity, empathy, vigilance, respect, and integrity are at the core of financial services.
More About UsFrequently Asked Questions
We understand that navigating financial transformation can raise questions. Below, we've compiled answers to some of the most common queries about our mission, initiatives, and impact.
- Exempted Micro Enterprise (“EME”) – annual turnover of less than R 10 million.
- Qualifying Small Financial Institution (“QSFI”) – annual turnover between R10 million and R50 million.
- Generic Enterprise (“GE”) – annual turnover above R50 million.
Measurement periods fall between 01 December to 30 November, annually. | ||||
---|---|---|---|---|
Exempted Micro Enterprise (EME) | Qualifying Small Financial Institution (QSFI) | Generic Enterprise (GE) | ||
51% black ownership or more | 51% black ownership or less | |||
Annual turnover | < R 10 mill | Between R 10 mill and R 50 mill | Between R 10 mill and R 50 mill | > R 50 mill |
Document submission | Sworn affidavit 1 | Sworn affidavit 3 | Authorisation letter | Full verification report; B-BBEE certificate; scorecard. |
Verification agent appointment | No | No | Yes | Yes |
The contact details of SANAS are as follows.
- Website: www.sanas.co.za / Telephone: (012) 740 8500.
For reporting queries send an e-mail to FTSC Reporting at reporting@fstc.org.za.
For exemption queries send an e-mail to FSTC Exemptions at exemptions@fstc.org.za.
Our Proud Members
As a collaborative force, our members play a pivotal role in driving transformation within South Africa’s financial services sector.
Latest News
Stay informed with the latest developments and breakthroughs in the financial services sector.
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