SOUTH AFRICA IS Asia’s gateway to Africa, and as Asia, especially China and India, make a play for African commodities and for African consumers, its banks have sought to link up with South African banks. The best known of these links is between ICBC and South Africa’s Standard Bank, where the Chinese player has a 20% stake. But of equal significance – although less well known – is the link between China Construction Bank and FirstRand.
FirstRand is not only one of South Africa’s largest banking institutions, it is also one of its most active internationally.
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