Banking on transformation after landmark deal

July 13, 2012

Sibonelo Radebe

Shanduka participated in the landmark Standard Bank BBBEE deal of 2004. Standard Bank sold about 10% to a BBBEE consortium made up of Shanduka, Safika Holdings, Community Trusts, black managers and staff.
Shanduka earned about 1.2% of the bank from this deal. Shanduka's holdings was diluted when the Industrial and Commercial Bank of China came in to take 20% of Standard Bank in 2007.

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