Section K

Section K of the SIC 7 covers financial and insurance activities, with 22 SIC codes describing the institutions and services that move money, manage risk and provide capital across the South African economy. The section includes commercial and central banking, credit granting and other monetary intermediation, fund management, holding companies, trusts, life and non-life insurance, reinsurance, pension funding, and a wide range of activities auxiliary to financial services and insurance.

The codes are organised into three divisions: financial service activities except insurance and pension funding (Division 64), insurance, reinsurance and pension funding (Division 65), and activities auxiliary to financial services and insurance (Division 66). Each SIC code page on the site shows the Stats SA description, the parent division, the SETA allocation — primarily BANKSETA for banking, INSETA for insurance, and FASSET for accounting, auditing and financial advisory — and links to related OFO occupation codes and NQF qualifications for bankers, financial advisors, actuaries, brokers, compliance officers, claims handlers and underwriters.

Use Section K when registering a financial services business with CIPC, applying for an FSCA licence, submitting Prudential Authority returns, completing FAIS Fit and Proper documentation, submitting workplace skills plans, or preparing the Financial Sector Code B-BBEE scorecard. The classification also supports SARS reporting under FATCA and CRS for financial institutions.

Whether you run a bank, broker, insurer, asset manager, fintech, microlender or actuarial consultancy, Section K provides the correct SIC reference and connects it to the broader regulatory, tax and skills landscape.