SA Reverse Bank mulls exit in African Bank as major shareholder

SOUTH AFRICA – In a move to exit its major shareholding in African Bank, the SA Reserve Bank (SARB) has issued the lender with a request for proposal to appoint a transaction advisor to assist with the future sale of its shareholding. African Bank’s other shareholders are FirstRand Bank, Standard Bank, Absa, Nedbank, Capitec, Investec and the Government Employees Pension…

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South Africa’s Capitec profit jumps 20% on strong customer growth

SOUTH AFRICA – Capitec Bank, a South African lender Bank, reported profit for the first half of the year grew 20%, in line with expectations, thanks to strong customer growth and a smaller impairment charge. The performance outshone more muted growth at many rivals, who have struggled after the economy suffered its worst contraction in a decade and the unemployment…

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