South Africas Nedbank Group Ltd,controlled by Old Mutual Plc, may seek a stake in one of the 10 failed Nigerianbanks, Bloomberg reported. The bank registered, along with its African partner,Ecobank Transnational Inc., with Nigerias central bank toinvestigate options, Mike Brown, CEO-designate, said. Three other South Africancompanies have already disclosed interest: FirstRand Ltd., Standard Bank GroupLtd. and Old Mutual. Ten of Nigerias24 deposit-taking lenders received government help last year. Since only about16% of Nigerians have bank accounts, the market offers extended growthopportunities.
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more