Original Research

Securitisation in South Africa: Historic deficiencies and future outlook

A Saayman, P Styger
South African Journal of Economic and Management Sciences | Vol 6, No 4 | a1515 | DOI: https://doi.org/10.4102/sajems.v6i4.1515 | © 2003 A Saayman, P Styger | This work is licensed under CC Attribution 4.0
Submitted: 04 December 2003 | Published: 15 November 2003

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A Saayman, North West University, South Africa
P Styger,

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Abstract

While American investors have been able to buy mortgage-backed securities  since the late 1970s and asset-backed securities since the mid-1980s, investors  in South Africa have not become involved in this growing market.  Securitisation also spread to Europe, South America, Asia and Australia during  the 1980s. The first securitisation in South Africa was completed in 1989, but  since then only a few securitised products have been offered to the investment  community. The aim of this article is to investigate the reasons for the lack of  growth in securitisation in South Africa and to determine whether securitisation  will grow to be a significant market in South Africa. The methodology used  includes interviews held with investors, securitisation specialists and other  structured finance specialists from the banking community. Experience from  other countries is noted and included in this article

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