The Money Show with Bruce Whitfield

African Bank deposits skyrocket to R1.48 billion as trust in the bank returns

African Bank CEO Basani Maluleke. Picture: Radio 702.

We’re lending to an increasing number of lower-risk customers… We’re sitting on about a million customers… We’re lending to a lot fewer customers [in total] … We’re giving larger loans…

Basani Maluleke, CEO - African Bank

African Bank reported a profit of R69 million for the six months to 31 March 2019, down from R77 million.

Retail customer deposits grew to R1.48 billion from R680 million.

The bank recently launched what it claims is the cheapest account in South Africa.

The MyWORLD account offers interest rates of between 5.5% and 6.5%, the best in South Africa for these types of transactional accounts.

The Money Show’s Bruce Whitfield interviewed Basani Maluleke, CEO at African Bank.

Listen to the interview in the audio below (and scroll down for more quotes from it).

We’re recruiting more people…

Basani Maluleke, CEO - African Bank

We are going to retain the number of branches we have… We are going more digital, but a lot of customers still want face-to-face interaction…

Basani Maluleke, CEO - African Bank

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Why Anchor Capital is buying Naspers, Sasol and Patrice Motsepe’s ARC

Why Anchor Capital is buying Naspers, Sasol and Patrice Motsepe’s ARC

The Money Show’s Bruce Whitfield asks Peter Armitage, CEO at Anchor Capital, for his stock picks of the week.

Telkom adds 4.5m subscribers in a year to challenge MTN, Vodacom and Cell C

Telkom adds 4.5m subscribers in a year to challenge MTN, Vodacom and Cell C

Despite its results, Telkom still slashed 13.4% of its permanent jobs. Bruce Whitfield interviews Telkom CEO Sipho Maseko.

How to get a nice, fat tax refund from Sars (a guide for business owners)

How to get a nice, fat tax refund from Sars (a guide for business owners)

The Money Show's Bruce Whitfield interviews Daniel Baines, author of "How to Get a Sars Refund for Small Businesses".

African Bank launches 'cheapest account in South Africa'

African Bank launches 'cheapest account in South Africa'

Interest rates for positive balances range from 5.5% to 6.5%, the best in South Africa for this type of transactional account.

How to get a tax refund from Sars

How to get a tax refund from Sars

The Money Show’s Bruce Whitfield interviews Daniel Baines, author of “How to get a SARS Refund”.

Meet the brave Basani Maluleke, CEO at 'new and improved' African Bank

Meet the brave Basani Maluleke, CEO at 'new and improved' African Bank

Bruce Whitfield interviews Maluleke – the first black woman to lead a South African bank.

Popular articles
President Cyril Ramaphosa extends lockdown by 2 weeks

President Cyril Ramaphosa extends lockdown by 2 weeks

We all want it to be over but our immediate priority must be saving the lives of our fellow South Africans, says President Ramaphosa.

[WATCH LIVE] President Ramaphosa addresses nation on efforts to contain Covid-19

[WATCH LIVE] President Ramaphosa addresses nation on efforts to contain Covid-19

President Cyril Ramaphosa is addressing the nation on society’s ongoing efforts to contain the spread of Covid-19.

How to start a side hustle in South Africa

How to start a side hustle in South Africa

The Money Show’s Bruce Whitfield asks serial entrepreneur Nic Haralambous for advice on starting a side hustle.

'‘Government must allow e-commerce during lockdown like China did in Wuhan'

'‘Government must allow e-commerce during lockdown like China did in Wuhan'

Should e-commerce expand during the lockdown? Bruce Whitfield interviews Takealot’s Kim Reid and Adrian Zelter (Coronation).

Even if SA recovers it won't help tourism if Covid-19 remains elsewhere

Even if SA recovers it won't help tourism if Covid-19 remains elsewhere

SA Tourism CEO Sisa Ntshona on how the government is assisting and how the industry might recover and grow after Covid-19.

[LISTEN] Teddy Bear clinic launches campaign for chidlren's masks

[LISTEN] Teddy Bear clinic launches campaign for chidlren's masks

Joanne Joseph speaks to Teddy Bear Clinic director Dr Shaheda Omar about the project.

Chris Hani family to launch youth development foundation

Chris Hani family to launch youth development foundation

Granddaughter Nosipho Hani-Khumalo says the foundation will focus on creating opportunities for youth.

Rahima Moosa Nursing College ditches finger-scanners for facial recognition

Rahima Moosa Nursing College ditches finger-scanners for facial recognition

Vice-principal Jazmin Gassiep says she was motivated by listening to 702's coverage of COVID-19 to upgrade their system.

Johannesburg is COVID-19 epicentre with more than 400 confirmed cases

Johannesburg is COVID-19 epicentre with more than 400 confirmed cases

Eyewitness News reporter Thando Kubheka gives an update from Premier David Makhura's briefing on coronavirus.

Why are few companies applying for UIF's COVID-19 relief?

Why are few companies applying for UIF's COVID-19 relief?

A study has revealed that most companies are not applying for the Unemployment Insurance Fund offer.