Nedbank CEO Mike Brown cautions against a ‘badly run’ state bank
The country already has many state-owned financial entities and no great track record in the management of others
10 March 2024 - 06:59
Nedbank CEO Mike Brown does not believe South Africa needs a state bank at this time, especially because other state-owned enterprises (SOEs) have been badly mismanaged.
Speaking to Business Times at the release of the banking group’s financial results for the year ended 2023, Brown said running banks was not easy, and for South Africa to successfully operate a state bank, it would have to be managed differently from how most SOEs have been run. ..
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