AFRICAN BANK

Finweek English Edition - - INVESTMENT -

The tech­ni­cal trad­ing team at Stan­dard Bank re­cently re­leased a new re­port on the mi­crolen­der rec­om­mend­ing that clients avoid the counter. The firm noted: “ABL [African Bank In­vest­ments Lim­ited] is bear­ish against all its peers. We sug­gest that in­vestors stay short. ABL would have to re­cover sub­stan­tially to re­gain in­vestor con­fi­dence. How­ever, we be­lieve that this down­side could be the last phase of the ma­jor bear trend. There­fore, we will wait for a good buy­ing op­por­tu­nity

upon a re­cov­ery.”

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