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Pietermaritzburg: Businesses include fire insurance and wealth planning

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First National Bank (FNB), NTE Company, SAFIRE Insurance and Wynsam Wealth

First National Bank (FNB)

Founded in 1838, First National Bank (FNB) is one of the country’s big five banks and is a division of the financial services conglomerate First Rand Limited. The bank is listed on the Johannesburg Securities Exchange and the Botswana Stock Exchange.

NTE Company

NTE Company has manufactured wattle extract primarily used as a tanning agent in leather production and as a base in natural polyphenolic adhesive for wood and board production since 1920. The company currently has two wattle extract manufacturing plants in South Africa – in Hermannsburg, KwaZulu-Natal and Iswepe, Mpumalanga – with its head office in Pietermaritzburg.

SAFIRE Insurance

Established in 1987 when catastrophic fires globally had dramatically increased the price of timber insurance, SAFIRE Insurance practices a strict policy of selectivity with clients chosen because they are risk averse and manage their risk profiles responsibly.

SAFIRE Insurance covers clients who are risk-averse and manage their risk profiles responsibly. Picture: Terry Haywood Photography

Local timber grower Bailey Bekker believed it was unfair for low risk private timber growers in South Africa to pay higher insurance prices because of losses incurred by higher risk growers locally and internationally, laying the foundation for the company today.

Wynsam Wealth

Wynsam Wealth is a financial services company offering corporate and individual wealth planning services.

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