Chamwe Kaira
Remgro Limited has sold additional shares in FirstRand Limited through on-market transactions, generating proceeds of about R4.88 billion.
The South African investment holding company disposed of 51.97 million FirstRand shares between 2 February and 10 March 2026 at an average price of R93.87 per share.
The sale forms part of Remgro’s process of reducing its remaining stake in the banking group.
Remgro’s involvement with FirstRand began through its investment in RMB Holdings. In June 2020 the company unbundled its indirect interest in FirstRand through RMB Holdings but retained a direct stake of 3.92% in the bank.
The company classified this holding as a non-core investment.
By the end of its financial year on 30 June 2025, Remgro had reduced the holding to 1.64%. The latest sale continues that reduction.
Remgro stated that the transaction’s proceeds would enhance its strategic cash resources, which it manages under its capital allocation framework.
The share disposals qualify as a category 2 transaction under the Johannesburg Stock Exchange (JSE) listings requirements, meaning shareholder approval is not required.
FirstRand is one of South Africa’s largest financial services groups. Its operations include brands such as First National Bank, Rand Merchant Bank and WesBank.
FirstRand Namibia is listed on the Namibian Stock Exchange and is the largest listed company by market capitalisation in Namibia.
Its financial services portfolio includes FNB Namibia, RMB Namibia, WesBank Namibia, Ashburton Investments Namibia and Pointbreak Wealth Management.
Remgro was established in the 1940s by the late Dr Anton Rupert.
The company is listed on the Johannesburg Stock Exchange and also has a secondary listing on A2X.
Remgro’s investment portfolio includes companies in healthcare, consumer products, financial services, infrastructure and industrial sectors.
