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South African building societies, which were established to facilitate home loans and savings for housing, faced significant challenges in the latter half of the 20th century. Many struggled due to financial mismanagement, changing regulations, and competition from commercial banks. By the late 1990s and early 2000s, most building societies either merged with banks or converted into banks themselves, leading to a decline in the number of traditional building societies in the country. Today, the landscape has shifted, with housing finance primarily dominated by banks and other financial institutions.

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