Commenting on News24 regarding the unexpected resignation on Sunday evening of Kenny Fihla from Standard Bank and his appointment as Absa CEO, Radebe Sipamla, co-portfolio manager at Mergence Investment Managers, believes that from a transformation perspective, it’s the right strategic move for Absa to make. The board will need to back Kenny fully to make difficult cultural and strategic changes at Absa that are necessary to ensure the business can navigate the rapidly changing banking environment in SA.

MTN cuts capex in SA to R6billion
Reporting on its financial results, MTN said that the post-paid, enterprise, wholesale, digital and fintech segments all recorded good growth