FirstRand, Africa’s largest lender by market value, is actively seeking acquisitions of other African banks as part of its expansion strategy. The potential targets may extend beyond traditional banking to include various financial services. Mary Vilakazi, the incoming CEO, expressed interest in exploring different avenues for participating in financial services without necessarily establishing branches or obtaining banking licenses. While FirstRand already has a presence in west and southern Africa, it is also considering expansion into the east, including Kenya.
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