African Bank Meltdown

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Unsecured lending behemoth African Bank is tottering on the point of Collapse after last week revealing it would need yet another monster shareholder bailout in order to stay afloat. African Bank announced that it would need a minimum of R8.5billion in extra funding from shareholders to continue as a going concern barely months after it gobbled up R5.5Billion in a rights issue.
Guest: Shamier Khan
Position: Element Investment Group

11 Aug 2014 English South Africa News

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