Africa’s Biggest Bank Eyes Acquisitions to Power Growth on the Continent
- FirstRand’s potential targets may include non-bank businesses
- Growth plans encompass footprint in Kenya, eastern Africa
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FirstRand Ltd. is looking to purchase other African banks in countries where it operates as the continent’s biggest lender by market value seeks to expand.
Potential targets for acquisitions may also include financial services outside of traditional banking, Mary Vilakazi, FirstRand’s incoming chief executive officer, said in an interview Thursday at the bank’s headquarters in Johannesburg. She is due to take over from Alan Pullinger on April 1.