As the alleged wrongdoing at Bishops Diocesan College shows, equating wealth with virtue is a bad idea, writes Helena Wasserman.
High level clouds. Mild.
Patrice Rassou, former head of equities at Sanlam Investment Managers, has been appointed Chief Investment Officer at Asburton Investments, the asset management arm of FirstRand.
Central banks in sub-Saharan Africa’s key economies will take direction from US Federal Reserve Chairman Jerome Powell when they make calls on interest rates in the next 10 days.
The power utility should consider selling two coal-fired plants that rank among the world’s biggest to help repair the state-owned utility’s finances, according to the head of SA’s biggest bank by market value.
The government has adopted certain populist policies that the country cannot afford, according to FirstRand chairperson Roger Jardine.
FirstRand’s Ashburton Investments is starting a new debt-instrument investment fund, as it seeks to take advantage of lending gaps and opportunities in the south of the continent.
The Financial Services Board has awarded FirstRand, the parent company of First National Bank, a short-term insurance license.
FirstRand plans to integrate its UK business segment into its acquisition of UK bank Aldemore, which will help free up funding and liquidity capacity of the bank.
FirstRand plans to take on Britain’s biggest banks with the takeover of Aldermore Group as growth in its home market stutters.
The banking partner of billionaire Patrice Motsepe’s African Rainbow Capital is close to getting a license that it wants to use to challenge the dominance of SA’s biggest lenders.
Moody’s has downgraded the credit ratings of South Africa’s top five banks, three development finance institutions, 10 regional and local governments and three government-related entities.
The group's chair says it will limit new coal financing to below 0.5% of total loans and advances.
FirstRand is emulating Amazon.com with a digital offering that will span everything from insurance, car license renewals to locating plumbing services as the South African bank chases new revenue sources.
Ratings agency Fitch has kept the ratings of five of SA's major banks at BB+ with a stable outlook.
Banks are in talks to start a joint fund that could be used to accelerate the transfer of land to black people as they seek to protect billions of rand in assets tied up in farm loans.
Ratings agency Moody’s has kept the ratings of SA’s big five banks at investment grade.
FirstRand has announced that its group CEO Johan Burger is to retire soon, with his deputy Alan Pullinger set to become the new head of the financial services provider.
South African banks are preparing for the worst when it comes to the threat of another downgrade of the country’s debt.
South Africa’s four biggest banks, pummelled by political wrangling and enmeshed in economic malaise, are increasingly shying away from their main role: lending.
South African banks are very different from banks in many other countries, Lafferty group CEO Michael Lafferty tells Fin24 why.
A former FirstRand CEO has halted some of his business ventures following the Cabinet reshuffle and the two credit rating downgrades.
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