8 months In South African townships, ‘unseen’ businesses catch a big bank’s eye MB |Biz
By Reuters JOHANNESBURG – Among the metal shacks and narrow side streets of South Africa’s townships, one of the country’s biggest lenders sees a sizeable market it wants to be first to crack: multi-million-rand businesses operating largely in cash. A general view shows Alexandra Township, an informal settlement for thousands of South Africans who lack the means to acquire property, located near the upper-class suburb of Sandton in Johannesburg, South Africa July 28, 2016. Picture taken July 28, 2016. (REUTERS / Siphiwe Sibeko / MANILA BULLETIN) FirstRand (FSRJ.J), South Africa’s biggest lender by market share, sees enterprises such as Ram ... more