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WATCH: The long-term implications of FirstRand’s Aldemore deal
While FirstRand is looking to entrench its developed market footprint further amid slow growth and rising risk in its African markets, it has focused on a particular opportunity — British banking newcomer Aldermore Group, and it is offering R20bn for it.
FirstRand says the deal will allow it to allocate more financial resources to its African operations and diversify its earnings in the UK.
FirstRand CEO Johan Berger spoke to Business Day TV’s Alisha Seckham about how the acquisition of Aldermore fits into the lender’s long-term strategy.
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