FNB to Spend $40 Million on Africa Growth, Business Day Says
FirstRand Ltd. (FSR)’s First National Bank will spend as much as 300 million rand ($40 million) during the next three years to expand in African nations where it already operates, Business Day reported.
The Johannesburg-based bank will spend 100 million rand to 300 million rand in Lesotho, Mozambique, Tanzania and Zambia, the Johannesburg-based newspaper said, citing Chief Executive Officer Michael Jordaan.
To contact the reporter on this story: Andres R. Martinez in Johannesburg at email@example.com
To contact the editor responsible for this story: Andrew J. Barden at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.