Elections could take focus off fixing economy, says Nedbank chief
06 March 2024 - 05:00
SA’s general election is likely to mean there will be less focus on the “hard yards” of fixing the economy and more focus on electioneering, but the country cannot continue with economic growth as low as it is, especially given the public sector’s large funding needs, outgoing Nedbank CEO Mike Brown warns.
Brown was speaking after the big four banking group reported a stronger than-expected 11% increase in headline earnings to R15.7bn for the year to end-December, prompting its share price to jump more than 3% on Wednesday against a near-1% decline in the banking sector overall...
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