African Bank, emerging from the brink of collapse in 2014, announced its second dividend of R100 million, reflecting its commitment to shareholder value and progress under the Excelerate25 strategy. The dividend, mirroring last year’s distribution, will be shared among key stakeholders, including the Reserve Bank (50% stake), GEPF (25%) and a consortium of major banks (25%). The Excellerate25 strategy, initiated in 2021, focuses on reshaping African Bank into a customer-centric digital bank with diverse product offerings and greater scalability. The bank reported a 31.4% decline in profit attributable to shareholders to R505 million, primarily caused by increased provisions amid rising concerns about potential bad loans. African Bank aims to target a listing by 2025 to facilitate the exit of key shareholders, including the Reserve Bank – a strategic resurrection milestone.
