Access Bank has just completed the acquisition process of Grobank Limited in South Africa, which is now called Access Bank South Africa Limited. The transaction was finalized after the completion of all regulatory procedures and the acquisition by Access Bank of the controlling shares of the former Grobank Limited.
At the same time that the acquisition process of BancABC is underway in Mozambique, Access Bank Plc is also proceeding with the acquisition of the African Banking Corporation (BancABC Botswana) in Botswana. BancABC Botswana is the fifth largest bank in that country and is a very well capitalized banking institution that is poised for success in its local market.
In Mozambique, the process of acquiring BancABC is about to be completed. The deal represents a major step for the banking sector in the Mozambican market, consolidating the expanded strategy of Access Bank, which in Mozambique will be positioned among the 7 largest banks.
By the end of 2021, Access Bank also plans to expand to other African countries such as Angola, Cameroon, and Guinea-Conakry.
With these operations, new growth opportunities are created in the short and long term, opening space for Access Bank to position itself in an increasingly robust way, connecting the main African markets with countless advantages for its clients. The Bank aims to be the change Africa needs, underpinned by the vision of being the most respected African bank in the world.
As part of a group that spans 3 continents, 16 countries and over 49 million customers, Access Bank incorporates accumulated experience in all segments. The expansion reinforces its position as the bank with the largest customer base.
