50 percent share of African Bank Limited underway

The sale of the 50 percent share of African Bank Limited is under way. This comes after the 2016 saga that saw the Reserve Bank acquire the share as part of the restructuring of the then ailing bank. The South African Reserve Bank recently appointed Transaction Advisors to handle the sale. With that Reserve Bank Governor Lesetja Kganyago has told the Standing Committee on Finance the transaction could be an opportunity for consortia to buy the stake and deal with transformation concerns within the sector. Sandile Zungu, Zungu investments company Chairperson weighs in on if this. Could be a golden opportunity to broaden the ownership transformation in the banking sector? Courtesy #DStv403