ANDILE KHUMALO: Potential BEE windfall as Reserve Bank sheds African Bank shares

It was never the Reserve Bank's intention to hold its equity stake indefinitely, particularly because its shareholding created a potential conflict of interest

12 September 2021 - 10:29 By Andile Khumalo

 watched a moving SABC interview with Dr Sam Motsuenyane, talking about how the original African Bank was started in the middle of impossible government restrictions on black business.

It was the first day of the inaugural conference of the National African Federated Chamber of Commerce and Industry (Nafcoc), in May 1964. The idea of establishing a bank specifically for black people was tabled. Black business had to find a way to secure capital for themselves because the banking system was simply not interested...

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.



Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.