NEDBANK SCRAPS COO ROLE
Nedbank will scrap its group chief operating officer role when Mfundo Nkuhlu (pictured) retires at the end of December 2026 after more than 22 years with the bank.
Nkuhlu joined Nedbank in 2004 and became COO in 2015, helping oversee major strategic, operational and technology changes.
From January 2027, his responsibilities will be divided among existing group executives rather than handed to a successor.
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The Oppenheimer family sold their 40% stake in De Beers for $5.1 billion in 2011. Today, the entirety of the company is being sold for $1 billion.
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CAPITEC FOUNDER SECURES R6.5BN LOAN
Capitec co-founder Michiel le Roux has secured about R6.5bn by refinancing a loan backed by his shareholding in the bank, without selling any shares.
The deal involves 1.37 million Capitec shares worth R6.56bn, which have been pledged as collateral through his investment company, Kalander Sekuriteit.
The transaction allows Le Roux to access funding while retaining ownership and benefiting from any future share price gains.
The refinancing comes as Capitec continues to post record profits and remains South Africa’s largest bank by market value.
Full story - https://t.co/NX1ajyN6TH
No institution is uninterested in small business than a bank. I went to them with a purchase order from a reputable listed firm and they still denied me the loan I needed for project kick off costs. I had to borrow against my mother’s house. I’d been banking with them for years. Just don’t bother.
They’ll give you all the money you need once you prove you don’t need it though.
Yall like Arguing things you don’t understand.
Firstly this is a dry rate meaning diesel is supplied by the client using the machine.
Secondly an excavator doesn’t have tyres.
Your cost is the operators, maintenance and breakdowns.
Having learnt the hard way I don’t recommend leaving your job for Entrepreneurship unless you have a solid plan. There a bills you can’t miss & Gods timing to provide tend to be not your Landlord’s timing nor your Child’s School fees. Work if you MUST please. I slept on the rain😂