Economic Sector Support: Finance and Business Services

What is the Finance, Business Services Sector?

The Finance, Business Services sector, is also known as the tertiary sector. The tertiary sector covers a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work.  It consists of :

- The market services sector (trade, transports, financial operations, business services, personal services, accommodation and food service activities, real estate, information-communication);

- The non-market sector (public administration, education, human health, social work activities).

The perimeter of the tertiary sector is therefore defined by combining with agricultural and industrial activities (the primary and secondary sectors).

Who are we?

The Services Sector unit comprises the BPO, ICT, Property management, Film, Finance and Business Services Sectors. The team aims to enable these sectors to grow within the Western Cape for job creation and economic prosperity. The unit does this by facilitating and coordinating between various roleplayers to unlock blockages obstructing sector growth. The assistance can include sharing information (e.g. sector IQ), red tape reduction, ease of doing business interventions, assistance with access to government incentives, funding, and private partnerships. 

Key programmes and initiatives:

The services sector unit aims to stimulate growth in the following priority industries: 

1. Financial Services Industry: The financial services sector provides financial services to people and businesses. This sector comprises of a variety of financial institutions including banks, investment houses, lenders, finance companies, real estate brokers, and insurance companies. Financial services industry is seen as the most important sector of the economy.

For more information on the sector, please click here.

2. ICT Services Industry:ICT, or information and communications technology describe the infrastructure and components that enable computing. The is no universal term for ICT, but it is accepted that it includes all devices, networking components, applications and systems that combined allow people and organisations to interact in the digital world.

For more information on the sector, please click here.

3. BPO Industry:Business process outsourcing (BPO) is a method of subcontracting various business-related operations to third-party vendors. Although BPO originally applied solely to manufacturing entities, BPO now applies to the outsourcing of services, too.

For more information on the sector, please click here.

​4. eCommerce Industry:Electronic commerce or e-commerce is a business model that lets firms and individuals buy and sell things over the internet. E-commerce operates in all four of the major market segments namely business-to-business, business-to-consumer, consumer-to-consumer and consumer-to-business.

For more information on the sector, please click here.

5. Property Management Industry:Property management is the operation, control, maintenance, and oversight of real estate and physical property.  This can include residential, commericla and land real estate.

For more information on the sector, please click here.

6. Film Industry:The film industry is the area of commercial activity concerned with the production and distribution of films.

Our Team

For more information on the Services Sector unit, please contact:

Khotso Morudi

Deputy Director

Khotso.Morudi@westerncape.gov.za