South Africa Central Bank Planning African Bank Measures
This article is for subscribers only.
South Africa’s Reserve Bank plans to detail measures for African Bank Investments Ltd., the Johannesburg-lender whose stock lost most of its value after saying it needs 8.5 billion rand ($797 million) of new funds.
The Reserve Bank will hold a press conference at 4 p.m. in Pretoria to “announce measures to be taken with regard to African Bank Ltd.,” according to a statement today on the Reserve Bank’s website, which didn’t give additional details.