South African Banking Sector as a Positive social impact creator:
An Emerging Economy Impact Investment Perspective

Dr. Lufuno Raliphada and Dr. Renee Horne
University of the Witwatersrand



The purpose of this study was to provide a viable impact investment ecosystem model for the role of the South African banking sector as a financial intermediary or impact investment creator in an emerging economy. A multiple qualitative case study method utilising purposive sampling that included various perspectives, micro perspective (three commercial South African banks and one development bank), macro perspective (the Banking Association of South Africa), value chain perspective (one supply-side and one demand-side) and competition landscape perspective (two asset management companies) was employed. The findings developed a viable model that depicts the South African impact-investing ecosystem that reflects the banking role as modelled from social value creation perspective.Download the full article