JOHANNESBURG - The Financial Sector Conduct Authority has imposed a 700-thousand rand penalty on African Bank for misleading advertising.
This advert was part of the bank's # KeFestive social media campaign in December 2023.
READ | African Development Bank chief warns of tariff 'shock wave'
It was found to contain factually incorrect and misleading statements on the use of personal loans.
Sindiswa Makhubalo, the head of Banks and Payment Providers at the FSCA spoke to eNCA.