FAQs

The FSCC is a not-for-profit, nonpartisan advocacy coalition formed in 2002 by over 50 organisations to drive transformation in the financial sector and ensure the economy serves all South Africans equitably.

The FSCC was formed following the successful South African Communist Party (SACP) Red October Campaign of 2001 under the theme “Make the Banks Serve the People” – at a time when only 25% of the population had bank accounts. It brings together community, religious, labour, cooperative, professional and non-governmental organisations representing tens of millions.

Initial FSCC Coalition Partners

1. African Independent Churches (AICA)

2. African National Congress (ANC)

3. Association for Black Securities and Investment Practitioners (ABSIP)

4. Association of South African Black Actuaries (ASABA)

5. African National Congress Veterans League (ANCVL)

6. African National Congress Women’s League (ANCWL)

7. Business and Arts South Africa (BASA)

8. Black Business Council (BBC)

9. Black Management Forum (BMF)

10. Black Lawyers Association (BLA)

11. Black Sash

12. Congress of South African Trade Unions (COSATU)

13. Congress of Traditional Leaders South Africa (CONTRALESA)

14. National Association of Democratic Lawyers (NADEL)

15. Foundation of African Business and Consumer Services (FABCOS)

16. National African Federated Chambers of Commerce and Industries (NAFCOC)

17. National Apex Cooperative South Africa (NCASA)

18. National Cooperative Financial Institutions of South Africa (Nacfisa)

19. National Association of School Governing Bodies (NASGB)

20. National Tax Alliance (NTA)

21. South African Council of Churches (SACC)

22. South African Communist Party (SACP)

23. South African Housing Cooperatives Association (SAHCA)

24. South African Local Government Association (SALGA)

25. South African National Taxi Council (SANTACO)

26. South African Society of Bank Officials (SASBO)

27. South African Sports Confederation and Olympic Committee (SASCOC)

28. South African Students Congress (SASCO)

29. South African Women Entrepreneurs Network (SAWEN)

30. Traditional Healers Organisation (THO)

31. Young Communist League (YCL)

32. National Funeral Directors Association (NAFDA)

33. Media Workers Association South Africa (MWASA)

34. Studies in Poverty and Inequality Institute (SPII)

35. Tenants Union South Africa (TUSA)

36. Ilungelolethu Human Rights Foundation (IHRF)

37. Supporters Dialogue Coop (SDC)

38. Disabled People South Africa (DPSA)

39. Women’s National Coalition (WNC)

40. South African National Civic Organisation (SANCO)

41. Business Leadership South Africa (BLSA)

42. Save South Africa (SSA)

43. Ahmed Kathrada Foundation (AKF)

44. Business Unity South Africa (BUSA)

45. The Federation of Unions South Africa (FEDUSA)

46. National Council of Trade Unions (NACTU)

47. South African Funeral and Burial Societies (SAFOBS)

48. Department of Trade and Industries (DTI)

49. Financial Sector Transformation Council (FSTC)

50. National Credit Regulator (NCR)

Our achievements include initiating the Credit Control Act, the National Credit Regulator and credit bureau regulation; launching Mzansi accounts to reverse 75% unbanked rates; and stopping banks from auctioning bonded homes below market value.

We hold an annual Consultative Conference with partners to reflect on transformation and set priorities. Our National and 9 Provincial Coordinators implement programs through NEDLAC (as part of the Community Constituency), the Financial Sector Transformation Council (FSTC), Parliament and other fora.