African Bank, led by Kennedy Bungane, completes $28 million Grindrod unit deal
African Bank completes a $28 million Grindrod asset deal, expanding its portfolio with loans, property stakes, and mortgage bonds in South Africa’s financial sector.
Kennedy Bungane
African Bank offers $28.3 million for Grindrod property assets
Deal to diversify African Bank’s portfolio; Grindrod refocuses on core operations.
Bank led by South African exec Kennedy Bungane takes stake in Johann Rupert-backed Grindrod
The acquisition bolsters African Bank’s presence within the small and medium-sized enterprise (SME) segment, a key growth area for the bank.
Kennedy Bungane-led African Bank’s newly acquired unit faces $255-million lawsuit
In response, Sasfin expresses disappointment, pledging cooperation with Sars and commitment to tax compliance.
South African exec Kennedy Bungane-led African Bank acquires Sasfin Bank’s unit in $166-million deal
Under the leadership of Kennedy Bungane, African Bank Limited has experienced massive growth, becoming one of the fastest-growing financial services providers in South Africa.
4 companies linked to South African tycoon Kennedy Bungane
From leading multimillion-dollar deals to steering diverse companies, Bungane’s strategic brilliance leaves an indelible mark on banking, energy, and investments.
South African tycoon Kennedy Bungane-led African Bank nears 4-million-customer mark
Bungane underscores the audacity necessary to transition African Bank from a mono-line credit lender to a comprehensive retail and business bank.
South African exec Kennedy Bungane-led African Bank expands with $170-million Sasfin unit acquisition
This acquisition follows African Bank’s earlier acquisition of Grindrod Bank and Grindrod Financial Holdings.
African Bank secures approval to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod Limited is owned in part by Remgro Limited, Rupert’s investment holding.