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African Bank spends R72m on building transactional banking

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African Bank has spent R72 million of its R225 million budget on building a transactional banking unit as part of the company’s plan to double its client base over the next three years.

Brian Riley, African Bank CEO, said this week that the bank was looking to grow its client base from 1.25 million to more than 2.5 million customers by 2021.

African Bank will launch transactional banking to the public in the first quarter of next year and to the bank’s staff in the last quarter of this year.

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