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FirstRand sets sights on M&A opportunities outside South Africa

FirstRandLtd. Chairman Laurie Dippenaar indicated that the SouthAfrica-based bank is looking at acquisition opportunities in other Africannations, including Nigeria.

"We believe that asset prices in jurisdictions, such asNigeria, have recently become much more realistic and we feel more comfortableto look for opportunities to deploy shareholder capital for acquisitions toassist us in scaling up our operations," Dippenaar said in the bank'sannual report published Oct. 4.

The chairman also said FirstRand's M&A strategy is bothorganic and acquisitive.