African Bank has bought Grindrod Bank to deliver on its strategy of accelerating its entry into South Africa’s increasingly competitive business banking market.
The R1.5bn deal will see African Bank acquire 100% of Grindrod Bank from JSE-listed Grindrod Ltd, the diversified freight logistics group, which has operations across Southern and East Africa, Thailand, Indonesia, Australia, Papua New Guinea and the United Arab Emirates.
For more information, please see https://www.businesslive.co.za/bd/companies/financial-services/2022-05-26-african-bank-pursues-sme-market-with-purchase-of-grindrod-bank/
