8th January, 2024
Access Holdings has announced the completion of the acquisition of African Banking Corporation Zambia Limited, trading as Atlas Mara Zambia (“Atlas Mara Zambia”).
Atlas Mara Zambia is now a wholly owned subsidiary of Access Zambia, Sunday Ekwochi, secretary of Access Holdings disclosed in a statement to the Nigerian Exchange on Monday.
The bank began the move to acquire Atlas Mara in January 2023.
With the completion of the acquisition, Access Zambia will now move towards integrating and merging Atlas Mara Zambia into its operations, ot create one of the top five banks in Zambia by total assets, with prospects to be in the top three by 2027.
Commenting on the transaction, Herbert Wigwe, Group Chief Executive of Access Holdings said:
“This marks a significant milestone for Access Bank as we work towards achieving our vision of being the World’s Most Respected African Bank.
“We are poised for success by harmonising the robust brands, rich heritage, shared values, and best practices of both companies to create opportunities for all our stakeholders in Zambia and SADG”.
Access Zambia aims to play a pivotal role in driving the country’s economic growth, offering innovative and personalised products and services to both the corporate and retail segments, Ekwochi said.