Reserve Bank moves to offload stake in African Bank

The SA Reserve Bank said on Friday that it is seeking a transaction adviser for the sale of its 50% stake in African Bank Holdings, offering the prospect of a new equity partner that could shake up SA’s banking sector.

The Reserve Bank’s stake was acquired due to one of SA’s biggest banking scandals, when African Bank Investments collapsed under a mountain of bad debt in 2014.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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