African Bank pays Sasfin R3.2 billion – with big plans for business banking

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African Bank has made another move ahead of its planned 2025 IPO launch.

African Bank has paid Sasfin roughly R3.26 billion for its Capital Equipment Finance and Commercial Property Finance businesses.

R3.26bn deal sees African Bank bolster its diversification into business banking while Sasfin focuses on its core business. “This further delivers on our ‘Excelerate25’ strategy to expand our core and establish our footprint in the business banking market leveraging African Bank’s balance sheet and strong capital levels.”

 

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