Goldman Hires to Grab a Piece of $1 Billion in South Africa Fees
- U.S. bank sees country recovering quickly from pandemic slump
- South African president looking to enact economic reforms
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Goldman Sachs Group Inc.’s dash for post-pandemic profits in South Africa is putting it on a collision course with the country’s biggest banks.
Already a top trader of South African government bonds, Goldman is ramping up financing in the continent’s most industrialized economy, muscling into an area dominated by local lenders such as Standard Bank Group Ltd. and FirstRand Ltd.