Sam Motsuenyane, founding chairman of African Bank and former president of the National African Federated Chamber of Commerce (Nafcoc), appealed to African businessmen on Thursday, 7 August to support the bank through its current financial difficulties.

Motsuenyane writes in his autobiography, A Testament of Hope: The Autobiography of Dr Sam Motsuenyane, about the hardships involved in establishing African Bank.

African Bank’s founding chairman and former president of the National African Federated Chamber of Commerce (Nafcoc), Sam Motsuenyane, has called on South Africa’s black billionaires to buy the troubled bank and exploit its low share price.

African Bank Investments Limited on Wednesday (Abil) saw its share price sink to a record low of R2.39 after a poor trading update which sent its stock plunging as much as 65%. This saw its market value chopped to R4bn from Tuesday’s R10.3bn, making it vulnerable to a takeover.

• Complete article: Business Day

Book details

• A Testament of Hope: The Autobiography of Dr Sam Motsuenyane by Sam Motsuenyane
  EAN: 9780620512602
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