Absa told to revise its bid for Capricorn

Thursday, September 09, 2010

Namibia's central bank would consider a reconfigured bid by South Africa's Absa Bank to take up rather a minority equity in Capricorn Investment Holdings .

Capricorn Investment Holdings(CIH) is the majority shareholder in Namibia's second largest commercial bank, Bank Windhoek and Botswana's Bank Gaborone.

Namibian authorities in July blocked Absa, which already runs a representative office in Namibia, from buying a majority stake in Capricorn Investment Holdings citing fears about increased foreign dominance in the financial sector.

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