This will however be subjected to customary conditions. The transaction is expected to be completed during the first half of 2023. The Secretary further stated that the transaction is subject to regulatory approvals in Nigeria and Angola.
The acquisition of Finibanco was disclosed in a filing to the Nigerian Exchange Limited by Access Holdings Plc.įinibanco is a full-service commercial bank with over 20 branches and around $300 million in total assets in Angola.Īccording to Access Holding Secretary, Mr Sunday Ekwochi, the Angolan market as the sixth largest economy in Africa and the seventh largest country overall, with a vast and diversified natural resource base and a growing population, represents a strong potential for the bank’s growth aspirations Investors King learnt that Access Bank Plc is expanding its presence to Angola through the acquisition of a 51 percent stake in Finibanco. Access Holdings Plc has announced its planned acquisition of a 51 percent majority equity stake in Angolan Bank, Finibanco.
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