Nigerian bank takes major stake in BancABC Botswana

New pathways: Bannalotlhe says the Access Bank deal provides new opportunities for BancABC Botswana
New pathways: Bannalotlhe says the Access Bank deal provides new opportunities for BancABC Botswana

Major Nigerian financier, Access Bank, is set to be BancABC Botswana’s major shareholder, after moving to snap up the 78% equity held by ABC Holdings, it has been learnt.

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”.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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