Access Bank acquires another bank in Zambia

Access Bank acquires another bank in Zambia

Access Bank acquires another bank in Zambia   Access Bank Plc has announced the completion by it’s Zambian subsidiary of Cavmont Bank Limited (Cavmont ppl), following fulfillment of the key conditions precedent including regulatory approvals. In a statement on Wednesday, the lender explained that the merger of Cavmont into Access Bank Zambia is expected to take place before the end of January 2021. After then, “Access Bank Zambia will emerge as a stronger and well-capitalized banking franchise with improved scale and capacity to deliver sustainable and best-in-class financial services in…

Read more

Access Bank announces N50 billion interest-free loan for small businesses

Access Bank announces N50 billion interest-free loan for small businesses

Access Bank has announced N50 billion in support of Nigerians through interest-free loans and grants to support communities, the youths as well as micro, small and medium-sized businesses. The bank disclosed this through its official LinkedIn page. It said the move was to support businesses following the crippling COVID-19 lockdown as well as the looting and arson that trailed the #ENDSARS protests. According to the bank; “Now more than ever, we remain committed to our purpose of impacting lives positively. ” In light of the recent occurrences, we will be…

Read more

Access Bank gets CBN’s nod to become a HoldCo

access bank gets CBN's nod to become a HoldCo

Extends footprint to South African market Access Bank Plc on Tuesday announced that it has received the Central Bank of Nigeria’s approval-in-principle for the bank’s restructuring to a holding company (“HoldCo”). The proposed HoldCo structure would enable the bank to further accelerate its objectives around business diversification, improved operational efficiencies, talent retention as well as robust governance. The bank said in a disclosure notice to the Nigerian Stock Exchange that further details regarding the HoldCo structure will be communicated to the market in due course. A holding company is a…

Read more

Usman joins Access Bank’s boardroom

Access Bank Plc has announced the appointment of Hassan M.T Usman as an Independent Non-Executive Director of the Bank following an approval of the Central Bank of Nigeria (CBN). Mr. Usman is the founder/chief executive officer of New Frontier Development Limited, an investment company focused on financial advisory, hospitality, real estate and proprietary investments in start-ups and challenged companies in the SME space. He is also the Founder/Chairman of the Board of Trustees of the Al-Qalam (Pen) Foundation, a not-for-profit organisation that provides educational opportunities to disadvantaged children. Prior to…

Read more

IFC Disburses $50m Loan To Nigerian SMEs Affected By Pandemic

IFC Disburses $50m Loan To Nigerian SMEs Affected By Pandemic

The International Financial Corporation (IFC), a member of the World Bank Group, has announced its partnership with Access Bank Plc to strengthen local businesses across Nigeria. In a press release, the IFC said it had provided a $50 million loan to the bank to help it increase liquidity to thousands of small and medium-sized enterprises (SMEs) struggling with the impacts of the COVID-19 pandemic in Nigeria. According to a statement by Eme Essien Lore, IFC Country Manager for Nigeria, it is crucial to support smaller businesses to keep Nigeria’s economy…

Read more