African Bank emerges as preferred bidder for Eskom’s multibillion-rand home loan book
Successful deal would mark lender’s entry to secured lending market
05 December 2024 - 21:47
African Bank has ramped up its spending spree, emerging as the preferred bidder for Eskom’s staff home loan book and assets, in a deal expected to be sealed by May 2025.
The deal marks a significant milestone for both companies, though for different reasons. For Eskom, the deal fulfils one of the conditions imposed by National Treasury in a R254bn debt relief package to the entity. For African Bank, it strengthens its foothold in the secured lending space...
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