• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, August 28, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Access Bank plans to acquire majority equity stake in Angolan-based Finibanco

Access Bank

The Matters Press by The Matters Press
October 5, 2022
Reading Time: 2 mins read
0
Access Bank eyes top 5 positions in Africa

Access Holdings Plc, trading as Access Corporation, has announced its planned acquisition of majority equity stake in Angolan-based Finibanco S.A by Access Bank Plc.

RELATED POSTS

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

Tinubu succeeding where Obasanjo failed woefully, says TMSG

Mr Sunday Ekwochi, the Company’s Secretary, said in a statement on Tuesday that the transaction would be effected via the purchase of existing shares owned by Montepio-the Holding Company for Banco Montepio, one of Portugal’s commercial banks.

“Access Holdings Plc, trading as Access Corporation (‘the Corporation’) today announces that its wholly owned subsidiary, Access Bank Plc (the Bank) has entered into a binding agreement with Montepio Holding SGPS S.A (‘Montepio’) to acquire a 51 per cent majority shareholding in Finibanco Angola S.A. (the Transaction).

“Finibanco Angola S.A. (Finibanco) is a profitable, well-capitalised full-service commercial bank with over 20 branches and around US$300 million in total assets that has operated in Angola since 2008.

“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 aspiration.

“The Transaction furthers the bank’s strategy to be Africa’s payment gateway to the world whilst working with other Africa-focused multilaterals to provide robust and efficient payment platforms and ecosystems to serve the continent,” he said.

The secretary said that the prospective operation was expected to contribute strongly to the bank’s overall growth path and financial results over the long-term.

He also said the transaction, which was subject to regulatory approvals in Nigeria and Angola was expected to close in the first half of 2023, following fulfillment of customary conditions precedents.

According to him, upon completion of the transaction, the bank is expected to increase its shareholding in Finibanco S.A and will reach certain conditional agreements in this regard.

Commenting on the transaction, Dr Herbert Wigwe, Group Chief Executive Officer of the Corporation said, “At Access, our vision remains clear as ever and our determination to harness accretive opportunities within and outside Nigeria is our core strategic focus.

“Angola represents an opportunity for our shareholders to participate in what we believe will engender stronger value upside as Africa fully emerges.

“We remain committed to making these disciplined and well-structured investments towards creating a strong, holistic platform that will be competitive, diversified, and compelling for years to come.”

He added that the corporation would continue to update the market on the transaction in line with its disclosure obligations.

Tags: Access Bank
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Next Post
Nigeria in deal with firm to facilitate funding for houses

RSA for mortgage: PenOp says policy will boost economy

SON sure to certify 75% products in Enugu, Ebonyi states by 2023

SON tasks staff on ethics, efficient service delivery

Recommended Stories

El-Rufai sues for peace, understanding

El-Rufai signs budget, earmarks N376 bn for 2023

December 30, 2022
NDDC moves to spur corporate governance structure

NDDC plans to create more jobs

September 20, 2023
NSIA, Agency in deal on solar power

Investments in solar to outpace oil for first time in clean energy shift – IEA

May 26, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals
  • ‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient
  • Tinubu succeeding where Obasanjo failed woefully, says TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us