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Bloomberg
Goldman Sachs Group Inc. received approval from the South African Reserve Bank to conduct the business of a bank in the country, it said.
It will open the Johannesburg branch of Goldman Sachs International Bank, and has been admitted as a member of the Johannesburg Stock Exchange’s interest rate and currency derivatives market, it said in a statement on Monday.
It will offer fixed-income products, including foreign exchange and South African government securities, to corporate and institutional investors, and has executed its first transactions with clients, it said. In May, Goldman Sachs announced a cooperation agreement with Investec Ltd for equity trading in South Africa.