Monday 4 April 2016 has been designated the official launch date of African Bank Good Bank. The institution was granted its banking license in December 2015, on the condition that it diversified. This diversification will take the form of new customers, products and channels.
Tom Winterboer, African Bank's curator, said in a statement that African Insurance Group (InsureCo), the company which will hold all insurance interests as part of the Good Bank Group under the Good Bank Restructuring Proposal, has concluded an agreement with Guardrisk Life. InsureCo is a subsidiary of Good Bank.
Brian Riley, CEO designate of African Bank Good Bank (pictured), said the newly established InsureCo is an important step in the completion of African Bank's restructuring. He called the deal mutually beneficial for both African Bank and its customers.
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