ANDILE KHUMALO: Potential BEE windfall as Reserve Bank sheds African Bank shares
It was never the Reserve Bank's intention to hold its equity stake indefinitely, particularly because its shareholding created a potential conflict of interest
12 September 2021 - 00:22
Irecently watched a moving SABC interview with Dr Sam Motsuenyane, talking about how the original African Bank was started in the middle of impossible government restrictions on black business.
It was the first day of the inaugural conference of the National African Federated Chamber of Commerce and Industry (Nafcoc), in May 1964. The idea of establishing a bank specifically for black people was tabled. Black business had to find a way to secure capital for themselves because the banking system was simply not interested...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
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.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.