Nigeria’s biggest lender Access Bank has invested around $60 million to acquire a stake in South Africa’s Grobank, its chief executive said on Tuesday, to become the first Nigerian lender to venture into South Africa.
Access invested both equity and debt in the South African bank, part of a regional expansion to tap into correspondent and trade banking deals on the continent, Herbert Wigwe told CNBC Africa Television.
Wigwe said Access will expand trade finance capability within Grobank which is currently focusing on the agricultural sector in South Africa…
More details through:
News Archive from before July 2018