News24 banks writer Garth Theunissen questions whether African Bank can realistically recover after a R624 million half-year loss, planned job cuts and branch closures, and yet another delay to its proposed listing. He argues that the bank may need a more fundamental solution rather than continued attempts to turn the business around. Radebe Sipamla, co-portfolio manager at Mergence, says cost-cutting should improve viability, but African Bank also needs to diversify beyond its mono-line credit offering and build more sustainable sources of non-interest income.
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