National Development Bank privatisation gains steam
The privatisation of the National Development Bank (NDB) gathered momentum this week when government announced that the Nedbank Capital of South Africa has won the tender to develop a strategy for the transaction.
The Public Procurement and Asset Disposal Board (PPADB) announced yesterday that following a recommendation from Public Enterprises Evaluation and Privatisation Agency (PEEPA), the tender for the P4.4 million advisory services for NDB privatisation has been awarded to Nedbank Capital, a subsidiary of the Nedbank Group.
Nedbank provides seamless specialist advice, debt and equity raising and execution and trading capabilities in all the major South African business sectors. Its principal clients include the top 200 domestic corporates in South Africa, parastatals, leading financial institutions, non-South African multinational corporates and clients undertaking major infrastructure and mining projects in Africa, as well as emerging Black Economic Empowerment (BEE) consortiums.
NDB will become the first government owned financial institution to be privatised in Botswana. This will [continue reading]