— Although it saw a 16% rise in credit impairments for the six months to June, Standard Bank has not burnt its fingers on home loans, unlike rivals that reported results recently.
Its strategy to remain in the mortgage-lending market when other banking participants were pulling out in 2011 had paid off, the South African bank’s retail and business CEO, Funeka Montjane said. (Business Day)
— The African National Congress (ANC) leadership in Pretoria has described the loss of the city during the municipal elections as the lowest point of its political life. (News24)
— The Democratic Alliance’s (DA) Athol Trollip has been elected the Executive Mayor of the Nelson Mandela Bay Metro unopposed.
This comes after the party reached an agreement with the United Democratic Movement, Congress of the People and the African Christian Democratic Party to form a multi-party coalition. (South African Broadcasting Corporation) Enditem
Source: Xinhua/News Ghana