Nigerian bank takes major stake in BancABC Botswana
Monday, April 19, 2021
Atlas Mara, the controlling shareholder in ABC Holdings, said the offer for the 78% represented 1.13 times the book value of the stake in BancABC Botswana. As at December 2020, BancABC’s total book value was estimated at about P1.2 billion.
Officials said the settlement amount included a deferred portion payable 24 months after closing of the transaction, subject to certain conditions. The transaction is expected to conclude in the second quarter of 2021, “assuming all relevant approvals are received by then”.
These legal professionals, who are entrusted with upholding the rule of law, face numerous challenges that compromise their ability to effectively carry out their duties.Elsewhere in this edition, we carry a story on the lamentations of the officers of court.The prosecutors have raised a number of concerns, calling for urgent attention from all relevant stakeholders, including the President, Minister of Justice and the Attorney General. Their...