x

Access Bank to acquire 100% stake in Zambian Bank

Access Bank Plc has announced plans for acquisition of 100 per cent of Cavmont Bank Limited, a Zambia-based financial institution.

The bank disclosed this in a regulatory filing to the Nigerian Stock Exchange (NSE) signed by Mr Sunday Ekwuochi, its Company Secretary.

It said the acquisition plan would be consummated through its Zambian subsidiary, Access Bank Zambia Limited.

” Access Bank has entered into exclusive discussions with Cavmont Capital Holdings Zambia Plc, regarding a potential transactions between Access Bank Zambia and Cavmont Bank Limited.

“The potential transaction relates to the sale of 100 per cent of Cavmont Capital interest in Cavmont Bank to Access Bank Zambia,” it stated.

The bank explained that there was no certainty yet on agreement or terms of the transaction.

It, however, urged investors to exercise caution when dealing in Access Bank’s securities until full announcement was made.

The bank noted that “the completion of a transaction would be subject to formal regulatory approvals.”

The acquisition would be the second across Africa having acquired Transnational Bank Limited of Kenya. (NAN)

Hot this week

Match fixtures

Tuesday 21 October 2025 Champions League17:45 BST BarcelonavOlympiacos 17:45 BST FC...

FG, Senate Leaders Head to Washington to Avert U.S. Sanctions Over Alleged Christian Genocide

 Top officials from the Federal Government and the National...

ECOWAS Role in Conflict Management and Resolution of the Malian Crisis

By Abdul Mahmoud YayaleThe protracted crisis in Mali...

CSO Urges State Governors to Emulate Jigawa Governor, Approve Advance Payment for 2026 Hajj

By Jabiru HassanIndependent Hajj Reporters (IHR), a faith-based civil...

Related Articles

Popular Categories

spot_imgspot_img