French banking group BNP Paribas, which was recently granted a licence to set up its first fully fledged branch in South Africa, said it would use the country as a platform to boost its presence in English-speaking countries in sub-Saharan Africa, where it is under-represented, Business Day reported. BNP Paribas South African branch will focus on investment and corporate banking. It has no plans of entering the retail banking sector. In the investment and corporate segment, BNP Paribas main competitors in the region will be JPMorgan, Citi and Standard Chartered Bank. BNP Paribas bought last year 60% of Cadiz Securities, the securities unit of South African financial services group Cadiz Holdings, which enabled the group to have a fully fledged equities business in South Africa. |
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