What are Financial Services?
The financial services sector provides financial services to both people and corporations. This segment of the economy is made up of a variety of financial firms including banks, investment houses, lenders, finance companies, real estate brokers, and insurance companies. These are the types of firms comprising the market, that provide a variety of money and investment related services. Financial services are the largest market resource within the world, in terms of earnings.
Aligned with a background of sharp risk, market and regulatory pressures, Financial Services organizations are striving to grow and enhance their shareholder values. Day by day the customer needs and expectations are growing. As Financial Services organizations strive to become more innovative and entrepreneurial, the war for talent is intensifying. The risks increase as the products become more complex, the organizations and the business environment ever more uncertain. At the same time, regulation is the tightening highlight within the reach of public and government pressure for improved supremacy, transparency and accountability.
Trends in the African Market:
Since the reformation of financial sectors throughout Africa in the 1990s, there has been a focus on economic development in sub-Saharan Africa through the expansion of financial services. More recently, the introduction of digital financial services has spurred further growth in the industry; traditional retail banks have adapted to provide more robust services, while innovations like mobile money have emerged. Additionally, global insurers, such as Allianz, have begun expanding in haste into markets in sub-Saharan Africa due to potential seen in the growing consumer class, the high percentage of youths, and the increase in infrastructure projects by both national and foreign parties.
Despite this, as the global financial sector looks to expand into an under-tapped market and Africans become increasingly savvy with their finances, the majority of sub-Saharan Africa’s population remains unbanked.
Where Do We Come in?
The industry is probably the most important sector of the economy, leading the world in terms of earnings and equity market capitalization. There are large conglomerates who dominate this sector, but it also includes a diverse range of smaller companies. Additionally, with the new innovations constantly emerging within the industry, and the range of skills needed that come with change, have you got the right people in the right roles?
Our specialist recruiters have experience within the industry and are fully certified practitioners in Lumina Select, the preferred psychometric tool used by Summit. We have worked with major players in the industry, posting both junior and senior level jobs with individuals who have acted as valuable assets to the organizations.
For your recruitment, executive search and head-hunting, get in touch with us today. Call or text +254 707 293 147 or write to us info@summitrecruitment-search.com
