Company Profile

  1. Overview

Gapex (Pty) Ltd is a registered financial services provider and has been authorized by the SARB to provide foreign currency intermediary services. The company was established in 2008 and is a specialized foreign currency intermediary company focusing on cross border currency movement for imports, exports, allowances and discretionary allowance offshore transfers, emigration and travel.

  1. What does Gapex do, How does Gapex do it, Why Gapex does what it does?

WHAT: What does Gapex offer?

We offer Foreign Exchange and Banking services, products and solutions. Best pricing for forex transactions for importing, exporting, discretionary & investment allowance currency transfers, travel, home loans for Entrepreneurs, vehicle finance for SME’s, POS for SME’s, Money market accounts, Escrow solutions for B2B (Business to Business).

HOW: How does Gapex do this?

We do this by focusing on simple banking solutions to ease the burden of running a business. We focus on the opportunities your business has and ensure we can offer pricing and service levels you expect and offer your clients. Banking made

simple – business banking solutions inspired by entrepreneurs. We network opportunities and solutions to ensure your company can perform at optimum levels and focus on your core strengths and values. We believe in networking and the ability to promote business within our network of clients and providers.

WHY: We believe in Entrepreneurs.

We believe the core of every business is formed by an entrepreneur – a leader, a pioneer, an individual that encompasses the passion, the idea and the vision, someone who boasts the fundamental belief in who they are, their unique product and solution.

We believe entrepreneurs have the ability to grow, develop and transform South Africa.

We believe in proving that every individual has an equal opportunity, no matter how big or small the environment.

We believe they are the foundation for all business….

Gapex wants to lead you in achieving that vision.

  1. Treasury Markets

Gapex specialises in a full range of treasury products for the business market. We pride ourselves on our ability to offer tailor-made treasury solutions to new and existing clients. Flexible solutions with competitive pricing, our skilled team provides service excellence and efficient turn-around time. Our dealing team and our admin office are professional, efficient and responsive. Gapex treasury offerings include forex, money market solutions, trade finance, escrow solutions and exchange control advice. We make managing currency risk simple and cost-effective.

3.1  Foreign Exchange

Gapex offers a range of services for both importers, exporters & individuals active in cross-border trade. Gapex employs professionals with a wealth of experience, able to advise you and address all your forex requirements.

3.1.1       Spot Market    We offer competitive pricing across more than 30 currencies.     We negotiate for you to trade in the spot market to lock in favourable rates for all your cross-border dealings.     We lower your currency risk with spot market rates and limit the risk of currency fluctuations affecting your business negatively.

3.1.2       Forward Exchange Contracts    We hedge your risk and protect your business from unfavourable exchange rate fluctuations     You budget more accurately    We advise regarding SARB regulations and exchange control requirements.     You benefit from competitive pricing with direct access to our dealing room.

3.1.3       Derivatives    Reduced brokerage fees by not having to trade directly in the underlying asset    Take advantage of price movements in the underlying asset without needing to trade directly in it    Benefit from the liquid nature of derivatives which are easily traded    Diversify your investment portfolio and reduce your risk

3.1.4       Travel Forex    Foreign Cash    Travellers Cheques    Cash Passport  Security – Pin & Signature Protected  Convenient – Free @ Point of Sales internationally

3.2  Money Market Solutions

Gapex offers clients access to money market instruments. With the highly liquid nature of its securities and short-term maturities,

the money market is typically seen as a safe place to invest your business’ funds.

3.2.1       Call Account    24-hour access to funds – no notice period required & no withdrawal penalties    Move funds in and out of your account as and when required    Earn a higher rate of interest than you typically would with a current or savings account    The higher your investment balance, the more interest you stand to earn.

3.2.2       Term Deposit    Term Deposit account enables you to invest money for a fixed time-period at a fixed interest rate.    Interest is payable either monthly or on the maturity date of the deposit.    Secure investment with a fixed rate of return over a specific investment period

3.3  Trade Finance

Gapex offers you a range of Trade Finance products and services to address all your international trade requirements. Trade

Finance solutions are generally short term and allow you to trade efficiently, securely and cost effectively.

3.3.1       Letters of Credit    Used in international transactions by sellers and buyers to ensure payment     Ensure the quality of goods shipped to you by specifying the need for certain documents, such as inspection certificates    Reduce your risk of unsettled business and payments with new and unknown trade parties.     Benefit from secure trade and limit your import/export risk while growing your business.

3.3.2       Trade Guarantees    Trade Guarantee can reduce settlement risk for sellers and expedite the exporting of goods to buyers    Well-priced guarantees negotiated with our banks.

3.4  Escrow Facilities

Gapex offers escrow services to address all your local and international trade requirements. Trade Finance solutions are generally short term and allow you to trade efficiently, securely and cost effectively.

3.4.1       Gapex advises on solutions to provide financial protection by securely safeguarding the funds between buyer and seller.    Used in international transactions by sellers and buyers to ensure payment    Ensure the quality of goods shipped to you by specifying the need for certain specifications.    Reduce your risk of unsettled business and payments with new and unknown trade parties.     Benefit from secure trade and limit your import/export risk while growing your business

3.5  Exchange Control Advice

3.5.1       Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by non-residents.

3.5.2       Gapex offers advice and understanding of cross-border payments and exchange control rulings surrounding all currency movement.

  1. Competitors

Gapex’s main competitors are fellow intermediaries, commercial banks who are Authorised Dealers (AD’s) and Authorised Dealers with Limited Authority (ADLA’s). We work closely with some AD’s and ADLA’s to ensure competitive pricing, efficient service and quality advice, research and knowledge about the treasury market.

  1. Target Market

Gapex has built up a diversified client base over the past 8 years. With over 40 years of experience combined, Gapex offers a cost

effective, informative quality service and direct trading access with the treasury’s dealing desk.

Our clients include companies in agriculture, automotive, computer, construction, education, energy, entertainment, financial services, food, healthcare, hospitality, manufacturing, media, medical, retail, telecoms, transport industries as well as individuals across a variety of financial instruments with a risk to currency exposure and a need for physical delivery of currency or hedging of currency risk.

  1. Regulations & Governance


South African Reserve Bank is the central bank of the Republic of South Africa. The primary purpose of the Bank is to achieve and maintain price stability in the interest of balanced and sustainable economic growth in South Africa. Together with other institutions, it also plays a pivotal role in ensuring financial stability.

Gapex is authorised under authorisation number 371 in accordance with compliance to conducting a treasury outsourcing business. FSB

The Financial Services Board (FSB) oversees the non-banking financial services industry, which includes retirement funds, short-term

& long-term insurance, companies, funeral insurance, schemes, collective investment schemes (unit trusts and stock market) and financial advisors and brokers.

The FSB is an independent institution, established by statute to oversee the South African non-banking financial services industry in the public interest, and fully funded by fees and levies imposed on this industry. The FSB has developed and maintained a strong, effective presence in the regulatory field, in South Africa and internationally, while working closely with its counterparts elsewhere in Africa to establish solid regulatory frameworks.

The FSB is there to ensure that you are treated fairly by the financial services providers you deal with, and that you enjoy a safe investment environment. The FSB prevents many South Africans from losing their hard-earned money to illegal money making schemes. You can confirm with the FSB whether the entity you are dealing with has a valid FSB licence because only licensed providers are authorised to sell you financial products. It is important to note that the FSB does not regulate or follow up on pyramid schemes, as the South African Reserve Bank takes on this responsibility.

Gapex is an Authorised Financial Services Provider – 37786

  1. Growth & Prospects

Gapex is excited to continuously look at expanding its products offerings as well as working with our clients to provide ideas and product solutions to banks and industry which work for our clients, rather than against our clients.

Products and opportunities which Gapex will be offering entrepreneurs and individuals going forward:

Home Loans

Vehicle Finance

Point of Sale Solutions

Business Banking

Private Wealth

Offshore Investment Opportunities

Offshore Bank Accounts

Rental Finance

  1. FAIS & Ombudsman

8.1  FAIS Ombud for FAIS related complaints not satisfactorily resolved by the FSP and/or Bank.

Postal address:

PO Box 74571, Lynwood Ridge, 0040


Tel:                         (012) 470 9080

Fax:                        (012) 348 3447

Web Site:

8.2  Banking Services Ombudsman who is available to advise you in the event of claim problems, which are not satisfactorily resolved by the intermediary and/or the bank.

The Ombudsman for Banking Services

PO Box 5728, Johannesburg, 2000, South Africa

Telephone: 011-712-1800

Sharecall: 0860 800 900



8.3  Financial Intelligence Centre Money Laundering Reporting Officer

Grant Nock (Director)

Peter Nock (Director)

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