Marketing & Media trends
Industry trends
BizTrends Sponsors
Trending
- 5 key moments that are solidifying Tyla's brandKarabo Ledwaba
- East Africa internet disrupted by another major undersea cable cutLindsey Schutters
Jobs
- Outdoor Advertising Sales Manager Johannesburg
- Landlord Liaison Officer Johannesburg
African Bank completes acquisition of Ubank, integration underway
“This transaction is an essential element of African Bank’s Excelerate25 strategy, to build a scalable, diversified, and sustainable banking business with a compelling listable proposition,” said African Bank CEO Kennedy Bungane.
At the end of August, African Bank announced it was the successful bidder to acquire the majority of Ubank’s disclosed assets and liabilities and take on its employees as a going concern.
Chairman of the board of African Bank Thabo Dloti said a key part of the integration process will be providing growth opportunities for staff across the unified business. “We welcome our colleagues from Ubank, acknowledge the critical role of all our stakeholders, and thank our new Ubank customers for the confidence they have demonstrated throughout the Ubank curatorship process.”