South Africa-based Nedbank Group Ltd. and German lender Deutsche Bank AG, through their subsidiaries, entered into a cooperation to jointly provide primary equity and debt capital markets services in South Africa and select markets in sub-Saharan Africa.

Nedbank Group's corporate and investment banking operation and Deutsche Securities (SA) Pty. Ltd. will cooperate on a transaction-by-transaction basis, with corporate, public and institutional clients continuing to contract directly with each entity individually.

The two units will not be creating a legal entity or joint venture structure, and the cooperation will have no impact on existing advisory and financing businesses, which remain separate.