South Africa’s debt-laden state-owned companies may represent the single biggest risk to the country’s economy, according to Nedbank CEO Mike Brown. The assets, which include power utility Eskom
Browsing: Nedbank
South Africa’s banks are going on the offensive after being criticised by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by President Jacob Zuma, who’s accused them
A finding by the South African antitrust regulator that more than a dozen local and international banks colluded to rig foreign-currency trades will bolster government accusations that the nation’s biggest lenders
President Jacob Zuma said the dominance of the country’s four major banks must end and access to the economy for the black majority improved. “There’s a skewed kind of economic control,” Zuma said on Friday. “We actually frustrate our
New allegations by President Jacob Zuma’s supporters that South Africa’s biggest banks are frustrating efforts to address racial inequality signal an escalation of a battle for control of the nation’s financial system, including the treasury. Protestors from the
Three of South Africa’s biggest banks are considering bidding to distribute government welfare payments to more than 17m people as a contract with a unit of Net1 UEPS Technologies comes to an end after years of legal battles. The existing contract
Nedbank said South African mines minister Mosebenzi Zwane urged the lender to reconsider its decision to sever ties with companies tied to the Gupta family, who are friends of President Jacob Zuma and in business with his son. Nedbank, in a letter
Nedbank has launched an interactive teller and banker ATM at its flagship new-generation branch in Sandton in Johannesburg. According to the financial services group, it is the only bank in Africa and the second
The rand slumped the most five years on Thursday, leading global currency declines against the dollar as a global bond selloff worsened amid concern that spending by the Donald Trump administration will fuel inflation
Telecommunications group MTN has a new chief financial officer. Ralph Mupita, the CEO of Old Mutual emerging markets, will take over as MTN’s CFO on 3 April 2017. Mupita’s appointment adds to a growing list of top executives