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

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Oborevwori, Senator Nwoko Hail Igbo Socio-Cultural Group for Tackling Identity Crisis

By Anne Azuka The Igbo Unification Movement, in collaboration with...

Tinubu Declares 9th National Youth Games Open in Delta

By Anne Azuka The 9th National Youth Games kicked off...

PAAU Gets NUC Approval for MBBS Program

By Noah Ocheni, Lokoja The Faculty of Medicine at Prince...

Kaduna: London-Based Philanthropist, Andishu, Lauds Gov. Sani’s Security and Peace Model

By Achadu Gabriel, Kaduna London-based Nigerian businessman and philanthropist, Moses...

Aliyu Flags Off 2025 Tree Planting in Sokoto, Urges Collective Action Against Desertification

By Muhammad Ibrahim, Sokoto Governor Ahmed Aliyu has launched the...

KGIRS Targets Over ₦3bn Monthly Revenue in 2026

By Noah Ocheni, Lokoja The Chairman of the Kogi State...

Plateau Child Protection Network Raises Alarm Over Case of 5-Year-Old Bethel ‘Kawa’

By Israel Adamu, Jos The Plateau State Child Protection Network...
spot_img

Related Articles

Popular Categories

spot_imgspot_img