Johannesburg: gateway to all Africa's financial services jobs

South African financial services jobs may be drying up as the global crisis finally hits. But there still plenty of jobs going elsewhere in Africa, and Johannesburg is apparently the best place to find them.

South African, African, European, American and Asian - notably Chinese - banks are using South Africa's financial capital as a base to plan and launch their expansion into the continent and the place to recruit the talent they need for their 'African offensive'.

South Africa's big four banks have been vocal in their wish to exploit African countries' dynamism and good growth prospects. For example, Jacko Maree, chief executive of Standard Bank, Africa's biggest by assets, has announced that he is working with China's Industrial and Commercial Bank of China "on 60 deals on the continent."

"Johannesburg has truly become the centre of Africa," says Anton Apps, CEO of Anton Apps International Recruitment Specialists in Johannesburg. "Business is growing rapidly into African countries and both South African and foreign banks increasingly use it as a springboard for the rest of the Continent. We do a lot of placements in Africa."

Candidates with the right skills and experience are being increasingly sought after by financial institutions because it is difficult to find local employees with the required skills. And as a result of this skills shortage and perceived quality of life issues, candidates are in a good position to command high salaries and demand a hardship allowance as compensation for living in difficult places.

"The countries with the most jobs going include Mozambique, Angola, Namibia, Botswana, Nigeria, Zambia, Tanzania and Mauritius," says Debbie Goodman-Bhyat, managing director of Jack Hammer Executive Headhunters in Johannesburg. "We are generally appointed to headhunt at senior and executive level and in most cases the companies want executives who have local market knowledge. The ability to speak French, Portuguese or the local languages would be a major plus factor."

Goodman-Bhyat says demand has grown so much recently that her company has formed an Africa division.