The South African Reserve Bank has not found a buyer for its 50-percent shareholding in African Bank. It says interest from prospective buyers locally and internationally was unsatisfactory.
The Reserve Bank now plans to list African Bank directly on the JSE, for purchase by institutional and other investors, rather than sell it directly to an investor. The SARB wanted to dispose of its stake in African Bank, given the potential conflict as the regulator.
African Bank was placed under curatorship in 2014 after it collapsed under the weight of bad debts.
Source: eNCA
In other news – Its always amazing when your work gets recognized – Mbali Nkosi
Mbali Nkosi has taken to her social media to announce she is the latest cover on ‘The Feature Magazine’. The star expressed her excitement as she shared her journey.
The Magazine revealed that she chats with them about her career and how she managed to break the biases and become her boss. Mbali is excited to be joining the family as her work is being recognized. Learn more
