Home Companies&Markets Access Bank Zambia completes acquisition of Cavmont Bank Limited

Access Bank Zambia completes acquisition of Cavmont Bank Limited

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WED 06 JAN, 2021-theGBJournal- The Board of Access Bank Plc today confirmed that its Zambian subsidiary, Access Bank Zambia Limited has completed the acquisition of Cavmont Limited, following fulfilment of the key conditions precedent including regulatory approvals.

Access Bank said in a statement that the merger of Cavmont into Access Bank Zambia is expected to take place before the end of January 2021, following which Access Bank Zambia will emerge as a stronger and well-capitalised banking franchise with improved scale and capacity to deliver sustainable and best in-class financial service in the Zambian market.

Following the announcement, Access Bank said, ‘’growing our presence in Zambia remains a strategic priority for Access Bank and with the conclusion of the proposed merger with Cavmont, the Bank looks forward to realising the synergies from the transaction and achieving further growth of the combined platform to the benefit of all stakeholders.’’

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