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