Silence on Abil deafening

The lack of information about unsecured lender African Bank, which collapsed in August, is unsettling investors who stand to lose everything if it can't be rescued.

The silence "increases investor uncertainty and stimulates the concern", said Jean Pierre Verster, an analyst at 36ONE Asset Management. "We don't know what's happening with their disbursements, loan book growth or shrinkage, bad debt emergence or any other financial information required to make an informed decision."

Finance Minister Nhlanhla Nene offered little guidance on Abil when he presented the national budget this week, saying only that the bank "is now generating positive cash flows".

- Bloomberg