African Bank Limited is one of South Africa's most recognisable retail credit institutions, offering personal loans, credit cards, savings accounts, and insurance products to millions of South Africans. The bank operates as a standalone digital-first retail bank headquartered in Midrand, Gauteng, and serves customers through its nationwide branch network, call centres, and online platforms.
According to data reviewed by the Creditdeals.io editorial team, African Bank holds a full banking licence issued by the South African Reserve Bank (SARB) and is a registered credit provider under the National Credit Act (NCA), 34 of 2005.
Registration and Licence
African Bank Limited is regulated by two primary authorities in South Africa:
- South African Reserve Bank (SARB): African Bank holds a banking licence and is supervised by the Prudential Authority of the SARB.
- National Credit Regulator (NCR): Registered credit provider. NCR Registration Number: NCRCP7.
- Financial Sector Conduct Authority (FSCA): Registered financial services provider.
How to verify African Bank's NCR registration (step-by-step)
- Go to the official NCR website: https://www.ncr.org.za
- Click on "Credit Providers" in the top navigation or under "Registers."
- Select "Registered Credit Providers."
- In the search field, type "African Bank" or enter registration number NCRCP7.
- Confirm that the status shows "Registered" and note the registration date and registered address.
- Cross-reference the physical address with the one displayed on African Bank's official website (https://www.africanbank.co.za).
If the name does not appear in the NCR register, do not proceed with any loan application and report the entity to the NCR at 0860 627 627.
Ownership and Corporate Structure
African Bank Limited emerged from a business rescue process in 2016 following the curatorship of the former African Bank Investments Limited (ABIL). The restructured bank is majority-owned by a consortium of South African institutional investors, including the Public Investment Corporation (PIC), major South African commercial banks (Absa, FirstRand, Nedbank, Standard Bank, Investec), and the South African Reserve Bank. This broad institutional ownership structure provides a degree of financial stability uncommon among smaller credit providers.
History and Key Milestones
| Year | Milestone |
|---|---|
| 1964 | African Bank founded as a community-focused financial institution |
| 1998 | Listed on the Johannesburg Stock Exchange (JSE) as part of ABIL |
| 2000s | Rapid expansion into unsecured personal lending |
| 2014 | African Bank Investments Limited placed under curatorship by SARB |
| 2016 | Restructured African Bank Limited launched as a standalone retail bank |
| 2019 | African Bank awarded a full banking licence by SARB |
| 2022–2025 | Expansion of digital banking, savings products, and credit card offerings |
Contacts and Support
| Channel | Details |
|---|---|
| Customer Care (General) | 0861 111 011 |
| 0600 033 111 | |
| customercare@africanbank.co.za | |
| Fraud Hotline | 0800 111 222 (toll-free, 24/7) |
| Branch Locator | https://www.africanbank.co.za/en/home/locate-us/ |
| Postal Address | PO Box 8810, Halfway House, 1685 |
| Physical HQ | 59 16th Road, Midrand, 1685, Gauteng |
| Support Hours | Mon–Fri 08:00–17:00; Sat 08:00–13:00 |
Customer Ratings Overview
Based on aggregated public reviews across Hellopeter, Google Reviews, and the Google Play Store, African Bank holds an average rating of approximately 3.8 out of 5 among verified customers.
Frequently Asked Questions
Is African Bank a legitimate bank? Yes. African Bank Limited holds a full banking licence issued by the South African Reserve Bank and is regulated by the Prudential Authority. It is also a registered NCR credit provider (NCRCP7).
Who owns African Bank? African Bank is owned by a consortium including the Public Investment Corporation (PIC) and major South African commercial banks following its restructuring in 2016.
Is my money safe with African Bank? African Bank is a member of the Corporation for Deposit Insurance (CODI), which provides depositor protection on qualifying savings balances up to a prescribed limit.