{"id":49305,"date":"2023-03-25T05:25:55","date_gmt":"2023-03-25T05:25:55","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=49305"},"modified":"2023-03-25T05:26:00","modified_gmt":"2023-03-25T05:26:00","slug":"regulators-approve-access-bank-zambia-merger-with-african-banking","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/regulators-approve-access-bank-zambia-merger-with-african-banking\/","title":{"rendered":"Regulators approve Access Bank Zambia merger with African Banking"},"content":{"rendered":"<p>Access Holdings Plc has received final regulatory approval for the acquisition and merger of Access Bank Zambia and African Banking Corporation Zambia Ltd.<\/p>\n\n\n\n<p>The Company Secretary, Mr Sunday Ekwochi, said in a statement on Friday, that the transaction would be completed in the third quarter of 2023.<\/p>\n\n\n\n<p>Ekwochi said that the Central Bank of Nigeria and Common Market for Eastern and Southern Africa Competition Commission had earlier granted their \u201cno objection\u201d to the Transaction in 2022.<\/p>\n\n\n\n<p>\u201cAccess Holdings Plc is pleased to announce that Access Bank Zambia Ltd., a subsidiary of its flagship subsidiary, Access Bank, has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of African Banking Corporation Zambia Ltd into its existing operations,\u201d he said.<\/p>\n\n\n\n<p>Commenting on the transaction, Dr Herbert Wigwe, the Group Chief Executive Access Holdings, said that the transaction followed its earlier acquisition and merger of Cavmont Bank Plc.<\/p>\n\n\n\n<p>\u201cThe transaction builds on our earlier acquisition and merger of Cavmont Bank Plc into Access Bank Zambia and underscores our resolve to strengthen our presence in Zambia, a key African market that fits into our strategic focus on geographic earnings growth and diversification.<\/p>\n\n\n\n<p>\u201cThe combination of the two banks will create significant synergies between Access Zambia\u2019s world class wholesale and transaction banking capabilities and Atlas Mara Zambia\u2019s market leading retail and public sector capabilities to form a market leading universal banking platform that will greatly impact the Zambia market,\u201d he said.<\/p>\n\n\n\n<p>He said that Access Zambia would now move toward integrating and merging Atlas Mara Zambia into its operations.<\/p>\n\n\n\n<p>This, according to him, is expected to create one of the top five banks in Zambia.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-49305\" data-postid=\"49305\" class=\"themify_builder_content themify_builder_content-49305 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Access Holdings Plc has received final regulatory approval for the acquisition and merger of Access Bank Zambia and African Banking Corporation Zambia Ltd. The Company Secretary, Mr Sunday Ekwochi, said in a statement on Friday, that the transaction would be completed in the third quarter of 2023. Ekwochi said that the Central Bank of Nigeria [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":20222,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949,241],"tags":[492],"class_list":["post-49305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","category-foreign","tag-access-bank","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Regulators approve Access Bank Zambia merger with African Banking - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/regulators-approve-access-bank-zambia-merger-with-african-banking\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Regulators approve Access Bank Zambia merger with African Banking - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Access Holdings Plc has received final regulatory approval for the acquisition and merger of Access Bank Zambia and African Banking Corporation Zambia Ltd. 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