More banks needed in SA, including State-owned bank – Ramaphosa

President Cyril Ramaphosa on Tuesday expressed support for a legislative amendment to create a State-owned bank and breaking the monopoly of the big four commercial banks in South Africa.  "We need to move away from the monopoly of just four banks in our country and create more banks so there is more access to funding," Ramaphosa said in his quarterly question-and-answer session in Parliament.