The dream behind African Bank refuses to die.
So says the chief executive Kennedy Bungane, who earlier this week presented annual results which boasted another year of organic growth as the bank forges ahead with plans to rapidly expand its business.
During the presentation, Bungane revealed that African Bank would open a pre-initial public offering (IPO) placement next year, ahead of its eventual listing on the JSE.
The details of the anticipated size of the pre-IPO are still being fleshed out. Nevertheless, the public listing, Bungane said in an interview with the Mail & Guardian, is an opportunity to realise African Bank’s vision of a black-owned bank, dreamed up 58 years ago.
Support the journalism that helps you navigate your world
Looking for another offer?
Sarah Smit
Sarah Smit is a general news reporter at the Mail & Guardian. She covers topics relating to labour, corruption and the law.
press releases
Loading latest Press Releases…
