South Africa
Citi’s earliest presence in South Africa dates back to 1920 when National Bank of New York opened an office in Cape town (first ever presence by Citibank in Africa). In 1958 the bank opened for business in Johannesburg, and remained active on the ground up until 1987 when Citicorp sold its South African subsidiary. Citi re-entered the country with a representative office that was converted to a full branch in July 1995. Since then, we have grown to become the country's largest foreign bank and the sixth largest commercial bank, with capital and reserves representing over one quarter of the capital of all foreign banks operating in the country.
Recent Awards and Recognition
EMEA Finance African Banking Awards
- Best Foreign Bank in South Africa (2022 and 2023)
- Best Foreign Investment Bank in South Africa (2022 and 2023)
DealMakers
- 2022 Catalyst Private Equity Deal of the Year - Citi acted as Sole Financial Advisor to Actis & Mainstream Renewable Power on the US$1.5bn sale of Lekela Power
Euromoney Awards
- 2023 Market Leaders in South Africa Investment banking by Euromoney
Global Finance
- 2022 Global Finance Best Corporate/Institutional Digital Bank - South Africa
- 2023 Global Finance Best Corporate/Institutional Bank - South Africa