Home Business and Technology Reserve Bank begins selling African Bank shares

Reserve Bank begins selling African Bank shares

African Bank

The South African Reserve Bank has set the ball rolling in its move to sell its 50 percent stake in African Bank. It has issued a request to appoint an advisor to deal with the transaction.

The central bank bailed out African Bank after it nearly collapsed in 2014 with many low-income clients struggling to pay back loans.

African Bank

It injected R5-billion in exchange for the lender’s bad loan portfolio and a 50 percent stake. The Reserve Bank says it was never its intention to hold on to the equity, as the shareholding creates a potential conflict of interest.

In other news – S.E.X video of Westridge High School students doing it on the Stairs goes viral-Watch

Gauteng Education MEC Panyaza Lesufi on Thursday announced that two grade 12 learners depicted in a video circulating on social media engaging in a s.e.xual act have been suspended.

West Ridge High School

The video of the students from Westridge High School in Roodepoort went viral on after surfacing on social media. Read more

source: eNCA