Royal Bafokeng Holdings (RBH) might take a stake of as much as R10 billion in one of the country’s big banks over the next few years, chief executive Niall Carroll said yesterday.
“We would like to have a significant investment in financial services and it’s possibly a R5bn to R10bn stake in one of the big five financial services groups.
via www.iol.co.za
We all know that the banking BEE deals are heading towards fulfilment (ask ABSA - their score has suffered as a result). Of course FirstRand went off and re-financed their deal for another five years. But the rest have a few issues facing them. This is why they are hoping for a proper definition of the once empowered rule which will hopefully be contained in the new FSC.
Maybe this idea might be some bank's saving grace. Are they now queueing up to be chosen?
I do like this - but would prefer them to start their own bank.
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