Wesbank: South Africa’s Leading Hire Purchase Bank, 1968–90

Stuart Jones and G. W. Scott

Chapter 9 in Financial Enterprise in South Africa since 1950, 1992, pp 213-235 from Palgrave Macmillan

Abstract: Abstract Wesbank is a hire purchase bank that grew up on the back of the automobile industry. Though its roots reach back into the 1890s, its real growth dates from the 1950s, when both the companies that came together to form Wesbank in 1968 began to finance the sale of motor vehicles. The 1950s were a time of rapid growth in the motor industry, the time when car-ownership became normal among the White section of the population — thirty years behind the United States, but ten years ahead of the United Kingdom. It was the enterprise of the Schlesinger Organisation and of the Sanger family that led to the dynamic growth of Wesbank’s original constituent parts and to the appearance on the South African financial scene of a new type of financial institution.

Keywords: Commercial Banking; Trust Company; Motor Industry; Financial Enterprise; Vehicle Finance (search for similar items in EconPapers)
Date: 1992
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11536-5_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349115365

DOI: 10.1007/978-1-349-11536-5_9

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().