Edition:
United Kingdom

Emma Rumney

CORRECTED-African Bank moves to stem client exodus, safeguard S.African comeback

21 Jun 2019

* Reversing falling customer numbers key to strategy, comeback

Sacked Old Mutual CEO to sue South African insurer

18 Jun 2019

JOHANNESBURG Old Mutual's former chief executive Peter Moyo plans to take the South African insurer to court after he was fired on Tuesday following a row over an alleged conflict of interest.

UPDATE 3-Sacked Old Mutual CEO to sue South African insurer

18 Jun 2019

* Shares in insurer knocked as relations sour (Adding Old Mutual declines to comment on Moyo's move)

In race to digitise, skills gap a drag on South Africa's big banks

14 Jun 2019

JOHANNESBURG A severe shortage of computer skills in South Africa has left its major banks fighting over a limited pool of people with the skills they need to upgrade technology platforms and keep pace with changing customer demands and competition from new rivals.

MTN to open 'market place' in step toward Africa's biggest bank goal

28 May 2019

JOHANNESBURG South Africa's MTN on Tuesday revealed plans to build a "market place" app where customers will be able to buy everything from insurance to washing machines as it seeks to build its mobile money platform MoMo into Africa's biggest bank.

Old Mutual CEO exits in 'conflict of interest' board dispute

24 May 2019

JOHANNESBURG Old Mutual's chief executive left on Friday after what South Africa's second-biggest insurer described as a "breakdown in trust" with Peter Moyo, who cited a disagreement over how it should engage with an investment firm he founded.

Sasol raises cost estimate for U.S. plant by around $1 billion

22 May 2019

JOHANNESBURG Sasol has raised the expected cost of its U.S. ethane cracker project by around $1 billion following a review by the project's new management, the South African petrochemicals firm said on Wednesday, sending its shares more than 10% lower.

UPDATE 2-Sasol raises cost estimate for U.S. plant by around $1 bln

22 May 2019

* Shares fall more than 10% (Adds CEO comment, share price, asset sale)

UPDATE 2-Investec battles Brexit, weak South African economy

16 May 2019

* Reports 3.6% rise in earnings, shares flat (Adds details, share price, bullets, updates quotes)

Goldman Sachs to sell fixed income products in South Africa, seeks licence

15 May 2019

JOHANNESBURG, May 15 Goldman Sachs is seeking a South African banking licence as part of plans to offer fixed income products in the country, sources and the Wall Street investment bank said, beefing up its African operations as global rivals scale back.

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