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were First National Bank Holdings, Momentum Life Assurers Limited (Momentum, now part of MMI Holdings) and the Southern Life Association Limited (Southern Life), all of which were listed on the JSE. FNB and Southern Life were constituted as wholly owned subsidiaries of Momentum, which was the vehicle to affect the merger. Momentum changed its name to FirstRand Limited and was listed on the Johannesburg Stock Exchange on 25 May 1998, with Anglo American and RMB

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