AFRICAN BANK ON A WINNING STREAK

Recently African Bank reported that they have 4 million active clients and have made millions of Rands in profit this financial year despite hard economic times hitting consumer clients.

African Bank’s Alliance Banking book includes Lesaka, Shoprite Checkers and MTN Momo clients. African Bank now also have business banking offerings through their integration of Grindrod and Ubank operations, with the business division bringing in R682 million in net revenue.

This year African Bank have posted a R505 million profit, finishing the financial year strong after a slightly weaker beginning to the year that had some concerned. The banks active client numbers have grown dramatically in the last 12 months (a 158% increase).

African Bank’s debt review department were also recently recognised in the 2023 Debt Review Awards.