HSBC Explores South Africa Exit Under Asia Pivot Strategy

HSBC Holdings (HSBC) is reportedly considering selling its South African businesses as part of a strategic shift toward its core focus on Asian markets. This news was first reported by Bloomberg, which noted that the potential sale has garnered interest from regional banks and institutions from China and the United Arab Emirates. HSBC entered the South African market in 1995. Over the years, the bank's primary activities in Africa's most developed economy have included commercial banking, global banking and ...