Access Holdings has successfully concluded the acquisition of African Banking Corporation Zambia Limited, trading as Atlas Mara Zambia, making it a wholly owned subsidiary of Access Zambia.
Sunday Ekwochi, the secretary of Access Holdings, revealed this in a statement to the Nigerian Exchange on Monday.
The move to acquire Atlas Mara Zambia was initiated by Access Holdings in January 2023.
Following the completion of the acquisition, Access Zambia is now set to embark on the process of integrating and merging Atlas Mara Zambia into its operations.
The strategic goal is to position itself as one of the top five banks in Zambia by total assets, with aspirations to secure a spot in the top three by 2027.
Herbert Wigwe, Group Chief Executive of Access Holdings, commented on the transaction, stating, “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.”
With the acquisition completed, Access Zambia is now aiming to play a pivotal role in driving the economic growth of the country.
The bank intends to offer innovative and personalized products and services to both the corporate and retail segments, contributing to the overall development and prosperity of Zambia, as indicated by Ekwochi.
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