THE GHOST TRAIN
THE FINANCE GHOST: Will history rhyme at African Bank?
African Bank has paid an outlandishly large sum for Sasfin’s capital equipment business, which should send jitters down its owners’ spines
19 October 2023 - 05:00
If African Bank were a rugby team, it would probably be Fiji. The bank is the underdog everyone wants to succeed, as so much effort went into saving it to avoid systemic issues in the South African banking system.
African Bank, as we know it today, is the “good” bank that emerged from the curatorship process. It is owned by the Reserve Bank, the Public Investment Corp and a consortium of local banks. This is the wounded soldier that was carried back to the hospital by its fellow fighters, with a long road to recovery ahead...
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