Bloomberg VBS Mutual Bank, one of South Africa’s smallest lenders, has been put into administration after it was unable to repay money owed to municipalities, according to the country’s central bank. The management team has been relieved of its duties and a curator from the auditing firm SizweNtsalubaGobodo put in place following a “severe liquidity crisis,” Lesetja Kganyago, governor of ...

Bloomberg Agricultural Bank of China Ltd. said it aims to raise as much as 100 billion yuan ($15.8 billion) in what would be the biggest-ever follow-on share offering by a Chinese company as it moves to replenish capital. China’s third-largest lender will sell up to 27.5 billion shares to seven state-linked entities including the country’s Finance Ministry, Central Huijin Investment ...

Bloomberg Egypt selected four European banks to manage its first euro-denominated bond sale, taking advantage of lower borrowing costs in Europe as it looks to secure funding to plug the budget deficit. The government picked BNP Paribas, Deutsche Bank, Standard Chartered and Intesa Sanpaolo for the issuance worth between 1 billion and 1.5 billion euros that’s slated to be held ...