There were replacement transactions at Old Mutual and Absa, with FirstRand, Sanlam and Capitec retaining black ownership. But Standard Bank and Nedbank have less than 1% black…
As foreign banks retreat from the continent, local lenders are stepping up to fill the gap
The commission says the case highlights the difficulty of prosecuting global and domestic cartels that exploit legal loopholes to delay proceedings
South Africa’s biggest banks, and most of their foreign counterparts, are no longer up for prosecution following a competition appeal court order
The FirstRand chief operating officer is set to become the first black woman to run a major banking group in South Africa
A higher cost of borrowing is generally good for bank profit margins – until it isn’t
The founder of FirstRand says the group prospered because it constantly diversified
But analysts say the fossil fuel’s boom will probably be short-lived as the turn to renewable energy picks up
The bank’s chief risk officer says banks can’t stand on the sidelines of the climate crisis debate
Shareholder engagement on climate-crisis risks is an proving effective tactic to bring about change
The sector was badly hit by credit losses, but strong capital buffers have kept it from spiralling
Unless the country did something ‘extraordinary’, Ramaphosa notes that South Africa will not be able to reduce the unemployment rate to 6% by 2030
The banks’ exposure to the utility is limited but a debt failure would create a financial black hole
Documents seen by the M&G have reopened questions on a Scorpion investigation regarding a series of payments to the presidential spokesperson.
FirstRand is the first lender to publicly disclose reasons for severing links with Oakbay Investments, a company controlled by the Gupta brothers
Namibia’s utility is planning a bond sale in it’s own country as well as in South Africa to raise funding for its share of a $1.2-billion gas plant.
The debate about gender-based violence is easily obscured by statistics, as horrifying as they may be.
FirstRand bank has shown interest in buying three banks from Nigeria’s Asset Management, including Mainstreet and Keystone.
Can corporate programmes that involve employees in NGOs really make a difference to South African communities?
Momentum has created a sustainable and robust employee volunteering programme that brings real meat to the table.
