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Andre Janse Van Vuuren
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African Bank splits to isolate loans in Reserve Bank rescue
The Reserve Bank has placed the sinking lender under curatorship in a bid to save investors.
African Bank chief exec quits
Head of the country’s largest unsecured lender, Leon Kirkinis, has stepped down with immediate effect as the bank plans a capital increase.
Anglo Platinum meets sales contracts even as strike cuts output
The platinum mining giant was able to fulfill its contracts despite a devastating five-month long strike which wiped out its profits.
Subprime caution fails to put the brakes on cheaper credit in the minibus industry
Transaction Capital is paying cheaper rates for the securitised loans it sells to finance taxis, despite SA’s struggling asset-backed debt market.
Alexander Forbes to decide on public listing or trade sale
Financial and risk services company Alexander Forbes will meet this week to decide whether to pursue an IPO or a trade sale.
Freak out: why African Bank’s record loss has left the market unphased
A larger than expected loss has not phased investors who believe better days are ahead for the countries largest unsecured lender.
African Bank underestimates soured loans, slides to loss
The unsecured lender’s interim results show a loss of R4.4-billion as its customers struggle to repay loans.
France’s largest bank BNP Paribas to buy South African credit provider
BNP Paribas has begun to negotiate the purchase of RCS Investment Holdings, a consumer credit provider owned by Standard Bank and Foschini.
Bob Diamond’s Atlas Mara buys bank in 1st Africa purchase
The investment firm has begun building what it hopes will be Africa’s premier financial service group.
Platinum stockpiles dwindle as strikers dig in
Attitudes of platinum producers and the majority union continue to harden as the strike enters it 6th week.
PIC says investment in oil explorer already paying off
South Africa’s biggest fund manager is "in the money already" when it comes to returns on its multibillion-rand investment in Camac Energy.
Platinum mines brace for Amcu strike
At least 70 000 Amcu members plan to down tools at the country’s biggest platinum mines on Thursday.
South African business to close for Mandela’s funeral
Enterprises ranging from retailers to mines and bank headquarters will close for the former president’s funeral.
Strike at Northam Platinum may lead to job losses
The company has issued a letter warning workers and the union it may have to cut jobs as it continues to lose millions to industrial action each day.
Pay rises hollow victory for dwindling SA miners
The recently negotiated 8% pay increase for gold miners will be a hollow victory for those who stand to lose their jobs.