Managing Directors and Chief Executive Officers in fifty-two African banks were surveyed, including South Africa's five largest banks, mass-market lender African Bank Investments Limited and foreign banks Citibank and Commerzbank.
Other common themes to emerge were the need for effective credit bureaus, particularly in Egypt and Nigeria where significant growth in retail lending was expected, and the need for further reduction in the number of banks in countries including Kenya and Egypt.
All markets mentioned the need to expand their "bricks and mortar" presence, particularly in rural areas, due to inadequate branch infrastructures, the survey said. More creative distribution structures were also needed in several countries, including the use of ATMs.
"The survey is of particular interest to existing and potential industry players as it highlights the intensity of competition in the different regions and which factors are driving change and development in these markets," PwC banking and capital markets leader for southern Africa Tom Winterboer said. "There are common themes but some interesting contrasts."
In South Africa, banks ranked affirmative action, empowerment and recruitment of good personnel as their top three most important issues. Data security, money laundering and crime levels were the three most important issues affecting Nigerian banks.
Data security was also considered as one of the top three important issues in the other countries surveyed apart from South Africa, while money laundering also made it into the top five most pressing issues in Kenya and Egypt.
