5 days ago
FirstRand Sees Opportunity in Kenya as Capital Rules Tighten
Kenya's plan to raise the minimum capital requirement for banks 10-fold by 2029 may benefit Africa's largest lender by market value, supporting its ambitions to expand in East Africa's biggest economy.
'We'd like to go to Kenya,' FirstRand Ltd. Chief Executive Officer Mary Vilakazi said in an online briefing. 'They have increased capital requirements significantly, and not even because of Basel III, but just because that's what you can do when you want to drive consolidation, so hopefully we've got an opportunity there.'
