AFRICAN BANK ANNOUNCES BEE OF NOZALA DEAL - Mzwandile Jacks
Mon, 04 Aug 2008
AFRICAN BANK is expected to announce that the execs of NOZALA INVESTMENTS were its black economic empowerment partners in ELLERINES. NOZALA was chosen because it was already in talks with ELLERINES when AFRICAN BANK bought the furniture retailer for R9.8bn last year August. NOZALA shareholders are made up of 600 000 beneficiaries of which most are women from the rural areas.
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