Pepkor eyes solo banking

Pepkor Holdings is weighing plans to abandon a possible partnership with Investec Bank and instead launch a lender on its own, according to a source.

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The retailer, Africa’s largest seller of clothing and cellphones, had considered teaming up with Investec to expand into financial services.

It’s now mulling a plan to roll out the venture independently, the source said.

A final decision hasn't been made, and Pepkor is expected to update the market at an investor presentation in Cape Town as early as this month, the source said.