Four young scientists, accompanied by Eskom Expo’s Business Manager, Mmamoloko Rancia Riba, won their place to represent the country at the Indonesia competition, renowned…
Are there lessons for startups in the demise of African Bank?
In times of distress, institutions have curators to look after them, people don’t. This is perhaps the biggest lesson for consumers from the African Bank debacle. It’s a tough lesson, but learn it well.
African Bank Investments Limited, or ABIL, built a client-base of 3.2 million people, but is now under curatorship and faces huge losses. The management team, quite simply, lent too much money to too many customers who didn’t pay back their loans.
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