Kennedy Bungane, the CEO of African Bank, said he is very happy with the approval, and says that this deal allows the bank to further strengthen and expand its operations. He emphasized that this acquisition also closely aligns with the bank’s ‘Excelerate25’ strategy, which focuses on serving underserved entrepreneurs and businesses.
Sasfin’s CEO, Michael Sassoon, is also very positive, saying that while it’s challenging to part with parts of the business (as they will be doing), the deal will create new opportunities for both clients and staff.