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. OR LISTEN TO THE AUDIO:

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Subscribe Sign in

Cancel anytime.

Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

SIGN UP

SIGN IN

Please read our Comment Policy before commenting.