Wallets/african-bank
African Bank
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Overview
African Bank is South African commercial bank + SARB South African Reserve Bank ~50% + Public Investment Corporation South African pension fund ~25%+ + 6 South African banks consortium controlling post-Aug 2014 curatorship + Apr 4 2016 African Bank Limited restructuring + SA commercial bank 1, South Africa report.
History
Sep 1975 — African Bank founded in South Africa as consumer finance company.
Aug 10 2014 — African Bank curatorship by SARB South African Reserve Bank post-financial distress.
Apr 4 2016 — African Bank Limited restructuring + new African Bank Limited launched as restored commercial bank.
2014 — African Bank mobile banking app launch.
Ownership & operator
Operating entity: African Bank Limited (South African commercial bank; SARB + PIC + 6 SA banks consortium controlling).
Major shareholders: SARB South African Reserve Bank ~50% + Public Investment Corporation South African pension fund ~25%+ + 6 South African banks consortium (Standard Bank + FirstRand + ABSA + Nedbank + Investec + Capitec).
Regulators: SARB South African Reserve Bank + Prudential Authority.
Technical integration
African Bank mobile app (iOS + Android) + africanbank.co.za online + African Bank branch network across South Africa + African Bank Visa + Mastercard cards; ZA IBAN + ZA PayShap (South African P2P + retail real-time payment scheme) + ZA EFT.
Implementations & partners
Major South African banking + payments competitors: Standard Bank (Standard Bank South Africa; JSE: SBK; Africa's largest banking group by assets) + FNB Banking App (First National Bank) (FNB South Africa; FirstRand Group; South Africa's largest banking group + 12M+ customers + eWallet pioneer) + Absa Bank (Absa Group South Africa; JSE: ABG; South Africa's #3 commercial bank by assets) + Capitec Bank (Capitec Bank; JSE: CPI; South Africa's largest commercial bank by customers) + Nedbank (Nedbank Money app) (Nedbank Group; JSE: NED; South African commercial bank) + Discovery Bank (Discovery Bank; Discovery Limited Group; South African digital + behavioural bank) + Investec Bank (Investec Bank; JSE: INL + LSE: INVP; South African + UK private wealth management + specialist commercial bank) + TymeBank (TymeBank South African digital bank; ~10M+ South African TymeBank customers) + Bidvest Bank (Bidvest Bank; Bidvest Group; South African commercial bank) + Old Mutual Bank (Old Mutual Bank South Africa; Old Mutual JSE: OMU subsidiary) + MTN Mobile Money (MTN MoMo South African mobile money; ~75M+ MTN MoMo users across 16 African countries).
Regulators: SARB South African Reserve Bank + Prudential Authority.
Status
Active, South African commercial bank + SARB South African Reserve Bank ~50% + Public Investment Corporation South African pension fund ~25%+ + 6 South African banks consortium controlling post-Aug 2014 curatorship + Apr 4 2016 African Bank Limited restructuring 1, 2.
Sources
- 1 African Bank — official
- 2 African Bank — Wikipedia
- South Africa report In-corpus:
reports/countries/ZA-south-africa.md
Source
Biography extracted from african-bank.md. See matrix.md for standards-support matrix if present.