History

 
Advances reach R59 billion
 
ABIL announces a R5,5 billion rights offer, underwritten by Goldman Sachs International and sub-underwritten by the International Finance Corporation (IFC), part of the World Bank Group
 
African Bank issues its first Swiss bond
 
Advances grow by 83% in two years to R53 billion
 
One of the founding members, Gordon Schachat, retires
African Bank kiosks and carve-outs rolled out in EHL stores
 
African Bank lists USD300 million maiden bond on the London Stock Exchange
Credit card portfolio reaches R3 billion
 
Ellerines financial services integrated into African Bank
ABIL launches its second BEE programme, Hlumisa
 
ABIL acquires the EHL group for R9,1 billion
African Bank launches its first credit card
African Bank launches its price/volume elasticity strategy, with the introduction of its first set of price reductions
 
Eyomhlaba, ABIL’s first R600 million Black equity ownership programme, announced
ABIL achieves investment grade credit rating
Demise of Unifer and Saambou. ABIL acquires the R2,8 billion Saambou personal loans book
Government payroll deductions closed to all credit providers
 
ABIL offers its first retail debit order product
Acquisition of Stangen
 
Theta Group Limited name changed to African Bank Investments Limited
The Boland book acquired for R1,7 billion
 
Acquisition of African Bank Limited
Baobab acquires controlling interest in Altfin, King and Unity. Name changed to Theta Group Limited
Transmuted listing of Baobab Solid Growth Limited
Formation of an investment trust with Hollard Holdings
Formation of Theta Securities