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Government pensioners hit by free falling African Bank share price

The share price of African Bank is in free fall with the bank needing R 8.5 billion to bolster its balance sheet.

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The Government Employees Pension Fund (GEPF) has the most equity exposure to African Bank, holding more than 186 million shares. Liberty came in second at nearly 77 million shares.

On July 25, the GEPF’s shares would have been worth more than R1.2 billion, while Liberty’s shares would have been worth R509 million.

When African Bank hit an all-time low of 28c earlier on Thursday, these investments would have been worth roughly R52 million and R22 million respectively. Shortly before 14h00, the share was trading at 89c.

To find out which investment funds are holding shares in African Bank, read the full article on Moneyweb

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