Nigeria’s biggest lender Access Bank said on Monday it has agreed to buy a majority stake in African Banking Corporation of Botswana for cash, a month after it acquired a South African bank.
Access Bank is expanding across Africa to counter stagflation at home and dollar shortages that have frustrated businesses. The lender will acquire just over 78% of BancABC Botswana for cash of around 1.13 times book value and a two-year deferred payment, amounting to an undisclosed sum, Atlas Mara said in a statement…
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