Mercantile Bank, which has been on the block since last year will have a new parent by the end of this year. The Portuguese government has approved a shortlist of four potential buyers. They include a consortium comprising Arise B.V. and Grindrod Bank; Capitec Bank; Nedbank and a consortium comprising the Public Investment Corporation and Bayport Financial Services. The approved potential buyers will now be allowed to conduct a due diligence process on Mercantile. Joining CNBC Africa for more is Karl Kumbier, CEO of Mercantile.
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.