SIKONATHI MANTSHANTSHA: A success story to buy into
The SA Reserve Bank has led a successful rescue and turnaround of the African Bank Holdings group
The SA Reserve Bank has led a successful rescue and turnaround of the African Bank Holdings group. When the bank presents its financial results for the year to end-September, it will tell the investing community that its annual profits came in at more than R1bn.
This will be the third consecutive year that the restructured bank reports a net profit since coming out of business rescue in April 2016. Three makes it a trend, and is a milestone for any serious investor. It also makes it the ideal time for the Bank to withdraw.