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NBFI sector soars high

ADAMANT: Motshidisi

Despite the financial year 2021/22 characterized by the adverse effects of Covid-19 at global level and locally, the Non Banking Financial Institutions(NBFI) sector continued to be relatively stable with the asset base recording an 18.4 percent growth to reach P153 billion in 2021 from P129 billion which was noted in 2020.

Therefore this accounts for 57 percent market share in the local financial services sectors.

The growth is attributed to the retirements fund industry which continues to be bullish in the NBFI sector accounting for 72 percent of 2021 good performance of the sector.


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