78.15% Shareholding being obtained in Africa Banking Corporation of Botswana Limited…disclosed by Access Bank Plc on the Nigeria Exchange Limited (NGX)
By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Ekwochi, Access Bank’s Company Secretary in an announcement, clarified that BancABC Botswana is the fifth heftiest bank in Botswana as well as a well-capitalized authorization steadied for development in its local market.
According to the statement, “The new acquisition will form part of the Bank’s nexus for trade and payments in Southern Africa and the boarder COMESA trade region. BancABC Botswana’s achievements in the retail banking space will provide an opportunity for the bank to deploy its best-in-class digital platforms and product suites to the benefit of BancABC Botswana’s customers and enable it to complete strongly across its core business segments.”
GMD/CEO, Access Bank – Herbert Wigwe noted: “We are pleased with the successful conclusion of this transaction which will provide significant synergies by combining BancABC Botswana’s strong retail banking operation with Access Bank’s wholesale banking capabilities.
“It will also strengthen the quality of earnings through revenue diversification and growth in the corporate and SME banking segments for BancABC Botswana. The combination is another step towards out broader vision of becoming the World’s Most Respected African Bank.”
Access Bank has associates across Sub-Saharan Africa and Europe, giving financial and banking services. The bank’s aides comprise Access Bank (Gambia) Limited, Access Bank (Sierra Leone) Limited, Access Bank (Zambia) Limited, Access Bank (UK) Limited, Access Bank (Ghana) Limited, Access Bank (D.R. Congo), Access Bank (Rwanda) Limited, Access Bank (Guinea) Limited, Access Bank (Kenya) Limited and Access Bank (Mozambique) Limited.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent