Access Bank UK Buys 76% of AfrAsia Bank in Mauritius

The deal was finalized through its subsidiary, Access Holdings (Mauritius) Ltd, after receiving all necessary regulatory approvals. Access Bank UK Ltd has completed the purchase of a 76% stake in AfrAsia Bank Limited, a financial institution based in Mauritius.

IBL Ltd, the founder of AfrAsia Bank, will retain a minority shareholding of 7.89%. The group states this continued presence shows its commitment to supporting the bank during its new phase of growth.

With a new majority owner, AfrAsia Bank is set for gradual transformation. It will now benefit from Access Bank’s extensive resources, global network spanning over 20 countries, and expertise, helping to strengthen its operations.

Jamie Simmonds, CEO of Access Bank UK Ltd, highlighted the strategic importance of the deal. He emphasized Mauritius’s reputation as a financial hub and AfrAsia Bank’s strong position within that ecosystem.

“By combining our strengths, we can create significant synergies and improve the financial resilience of both institutions,” Simmonds said.

For IBL Ltd, the sale aligns with its strategic shift. CEO Arnaud Lagesse explained that the move fits into IBL’s “Beyond Borders” strategy, which focuses investments on sectors that support long-term growth.

He added that the transaction ensures a smooth transition for AfrAsia Bank while continuing to support its development.

AfrAsia Bank’s board expressed confidence about the future. Chairman Olivier Jauffret said, “We are pleased to have a new majority shareholder during a period of positive momentum for AfrAsia.

Access Bank’s support will help us accelerate our strategic growth and strengthen our regional leadership.”

The bank will continue operating under its current name and serve both local and international clients.

The new ownership is expected to boost trade and financial flows between Africa, Asia, and other key markets, with Mauritius playing a central role in this strategy.

Source|: Defi Media