Reserve Bank moves to offload stake in African Bank
The Bank wants to sell its 50% stake in African Bank Holdings, which it acquired in 2016 as a result of one of SA’s biggest banking collapses
14 February 2020 - 08:49
UPDATED 14 February 2020 - 12:52
The SA Reserve Bank said on Friday that it is seeking a transaction adviser for the sale of its 50% stake in African Bank Holdings, offering the prospect of a new equity partner that could shake up SA’s banking sector.
The Reserve Bank’s stake was acquired due to one of SA’s biggest banking scandals, when African Bank Investments collapsed under a mountain of bad debt in 2014.
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