The Nigerian tycoon, on the verge of multiplying his income fivefold by 2021, saw his wealth blunted by the drop in shares in Dangote Cement.
The preliminary agreement signed in April, which would’ve given Atlas Mara a 6.3% stake in Equity Group in exchange for the units, expired, it said.
FBN’s 125 year heritage in Nigeria, and growing international network, gives the private banking division a strong foundation to provide best-in-class, bespoke services to its high net worth clients.
Despite this marginal decline in the total number of givers, however, Hlongwane says that the overall value of philanthropic activities in the country has remained relatively constant.
Depositors and investors in Kenya were rattled three years ago when the CBK took control of three mid-sized lenders, Chase Bank, Imperial Bank and Dubai Bank, after the banks ran into financial trouble.
While Namibian residency can be obtained on the basis of a business investment of NAD 2m ($122,000) and job creation, the application process is typically cumbersome - and not well suited to the needs of expat retirees.