FirstRand look to Africa, AsiaFirstRand banking group is looking for opportunities in Africa and India to expand its business but, has ruled out any acquisitions in South Africa, relying instead on organic growth. Group non-executive chairman Laurie Dippenaar told Business Day that South Africa is likely to be buffeted by "strong headwinds" as a result of the debt problems facing the United States and Europe. The group's banking unit, First National Bank (FNB) entered the Tanzanian market a few months ago and has now also recently received regulatory approval to buy a bank in Zambia. It terminated talks with Nigeria's Sterling Bank recently when it couldn't agree on the price for the company. Read the full article on www.businessday.co.za. |