Standard Bank is now only South African lender with black CEO. Kruger will remain an executive director of the bank.
A budget bank is booming in South Africa’s economic slump, challenging the decades-long dominance of the “big four” lenders and prompting a price war that is driving down banking costs in a country where many people can’t afford an account.
Standard Bank Group Ltd., Africa’s largest lender by assets, plans to start a prime brokerage next month to benefit from regulatory changes in South Africa it expects will boost the hedge-fund industry.
The Nigerian Stock Exchange (NSE) has been given a green light by its members to become a publicly listed company, it said on Thursday.
The Nigerian Stock Exchange plans to seek approval from its members on March 30 to proceed with the process of becoming a publicly listed company.
Polar Star targets agriculture as food demand outstrips supply. Commodity hedge fund beats peers over five-year period.
Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.
Africa’s biggest pension fund, Public Investment Corporation, has sought approval from South Africa’s central bank to raise its stake in Barclays Africa.
Private equity firm Bain Capital has agreed a debt for equity swap deal valued at $1.5 billion for Edcon, the chief executive of the South African clothes retailer said last Tuesday.
The Nigerian Stock Exchange, Africa’s second-largest, is looking to attract investors spooked by a weakened currency and oil price by offering more products ahead of a possible listing.
Online taxi-hailing service Uber has agreed a 200 million rand ($14 million) deal with South African vehicle finance provider WesBank to rent cars to drivers who can’t afford to buy them, the companies said on Tuesday.
African investment heavyweight Brait SE (BATJ.J) said it will pay $1.2 billion for virtually all of budget clothes retailer New Look, giving it a substantial presence in Britain’s fiercely competitive fashion retail market.
South African investment house Brait SE (BATJ.J) is to pay 682 million pounds ($1 billion) for a controlling stake in gym group Virgin Active, Brait said on Thursday, seeking to tap the growing health-conscious middle classes particularly in Africa and Asia.
Deutsche Bank AG was fined 10 million rand ($857,000) by South Africa’s banking regulator for failure to comply with rules covering the detection of property linked to terrorism and other crimes.
Barclays Africa Group Ltd.’s corporate and investment banking unit has approached Nigerian authorities for approval to convert its representative office to a fully fledged business in the continent’s biggest economy.
Africa focused Private Equity (PE) has developed impressively over the last two decades, in terms of volume, quality of transactions, and performance.
Africa’s attractiveness as an investment destination continues to grow in recognition, a leading investment expert has said.
Now is the time to invest in Africa. Today, the continent’s population of over 1 billion can boast some of the world’s strongest Gross Domestic Product (GDP) growth rates, urbanising communities and expanding consumer class — facts that are increasingly recognised by the Gulf Corporation Council member states.
FirstRand Ltd. (FSR), Africa’s largest bank by market value, is to offer vehicle finance in Nigeria as the Johannesburg-based lender targets growth in the continent’s biggest economy.
FirstRand Ltd. (FSR), Africa’s biggest bank by market value, said unsecured lending was the least of its issues and criticized ratings companies for seeing failed African Bank Investment Ltd. as a proxy for the industry.
Africa’s biggest bank by market value FirstRand has set aside close to $1B for investment on the continent. CEO Sizwe Nxasana speaks on the FirstRand’s plans to extend its reach in Africa.
Nigeria, Egypt and Ethiopia offer some of the best opportunities for retailers looking to invest in Africa, Rand Merchant Bank said.
If Nedbank (NED) converts its $285m loan to West African banking group Ecobank into an equity stake, it will help the local bank catch up with its rivals, which have made significant inroads in the rest of Africa.
South African pension manager Alexander Forbes on Friday priced its initial public offering at the middle of its planned range on Friday, raising 3.7 billion rand ($345 million) ahead of its return to the Johannesburg exchange.
South Africa’s FirstRand Ltd. (FSR) said its investment banking unit will finance as much as $120 million of Ghana’s $820 million Kpone power plant as lenders seek to benefit from African infrastructure projects.