Access Bank injects US$28m in Kenya unit after buyout

KENYA – Nigerian multinational commercial lender Access Bank Group, has disclosed a US$30.5 million investment in the Kenyan unit after buyout in 2020. The investment came after Access Bank Group acquired 99.98 per cent stake of the then Transnational Bank in July 2020 at a total cash consideration of US$13.8 million. The Nigerian Stock Exchange listed-listed lender renamed Transnational into Access Bank Kenya, which now trades as one of its 11 subsidiaries spread in Africa, and is seeking expansion and launch into new business lines. The injection comes at a…

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Access Bank enters Kenya, promises growth opportunities for its customers

KENYA – Access Bank Plc, one of Africa’s leading financial institutions has expanded its footprint across the African continent with the official launch of its Kenya subsidiary. Speaking at the e-launch event, the Group Managing Director and Chief Executive Officer, Access Bank Plc, Herbert Wigwe, reiterated the bank’s vision to be the world’s most respected African bank, while stressing that the bank’s entry into the Kenya market is a key gateway into East Africa, and the African continent at large. “We are excited to have successfully entered into the Kenyan market. Kenya has been recognized as a market…

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Transnational Bank renames to Access Bank Kenya after being completely acquired by Access Bank

KENYA – Access Bank, a Nigerian multinational commercial bank, has renamed Transnational Bank a medium sized commercial bank that mainly focuses on Kenya’s agricultural sector, after it completed its acquisition, reports Business Daily. Central Bank of Kenya said that the Kenyan lender will now be known as Access Bank (Kenya), indicating the end of the buyout deal. “Transnational Bank PLC has, by resolution of the Board and the approval of the Registrar of Companies, effected a change of name from Transnational Bank PLC to Access Bank (Kenya) Public Limited Company,…

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