Access Bank UK announced in November 2024 that it has entered into a binding agreement to acquire a majority stake in AfrAsia Bank of Mauritius.
AfrAsia Bank serves individual, business and institutional clients with links to African and Asian markets. It had total assets of more than USD 5.7 billion at 30 June 2024.
REGULATORY APPROVALS REQUIRED
Completion of the transaction is subject to regulatory approvals.
The parties said they would work in the coming months to complete the acquisition. Access Bank Group CEO Roosevelt Ogbonna called the acquisition 'a pivotal moment in our African growth strategy'. No expected completion date was provided in connection with the announcement.
ACCESS BANK'S AFRICAN ACQUISITIONS
Access Bank Group has made acquisitions in markets including Kenya, Zambia and South Africa.