Access Bank UK Acquires Majority Stake in Mauritius’ AfrAsia Bank

Access Bank UK has officially signed a binding agreement to acquire a majority equity stake in AfrAsia Bank, a financial institution based in Mauritius. This acquisition, involving purchasing shares from AfrAsia Bank’s major stakeholders, IBL and the National Bank of Canada, is set to enhance Access Bank UK’s capacity to facilitate trade finance and improve regional connectivity.

Although the financial details of the transaction have not been disclosed, the move is expected to serve as a strategic launchpad for Access Bank UK.

The acquisition is aiming to bolster the bank’s capability to support cross-border transactions not only within Africa but also in other markets.

The deal marks an important milestone in Access Bank UK’s growth strategy and reinforces its commitment to expanding its presence in the African banking landscape.

Read an expanded article on the following link Future Banking