Ex-Banker Bids to Cash In on South African Takeover of Central Bank

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Ex-Banker Bids to Cash In on South African Takeover of Central Bank
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Activist shareholders led by an eccentric former former Goldman Sachs analyst have zeroed in on an unusual target: South Africa's central bank

PRETORIA, South Africa—Activist shareholders eyeing a multibillion-dollar payout have zeroed in on an unusual target: South Africa’s central bank.

Led by an eccentric former investment banker who has built deep ties with the country’s leftist ruling party, the shareholders are betting that the government’s plan to nationalize the publicly-traded central bank will hand them a piece of its assets that far outstrips the face value of their holdings. At play, according to the bank’s governor, Lesetja Kganyago, could be as much...

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