Access Bank Moves to Acquire Zambian Bank

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Access Bank Plc has notified the Nigerian Stock Exchange (NSE) of plan by its Zambian subsidiary to acquire Cavmont Bank Limited, a subsidiary of Capmont Capital.

In a notice published on the NSE website that was signed by the Company Secretary, Access Bank, Sunday Ekwochi, the bank stated: “There can be no certainty that a transaction will be agreed, nor as to the terms of any such agreement. The completion of a transaction would be subject to formal regulatory approvals.

“Access Bank will update the market as appropriate and in accordance with its’ disclosure obligations. Accordingly, shareholders are advised to exercise caution when dealing in Access Bank’s securities until a full announcement is made.”

Access Bank currently has six subsidiaries across Africa, namely DR Congo; Gambia; Ghana; Rwanda; Sierra Leone; and Zambia, including the UK.