Nigeria’s Access Bank to acquire Zambia’s Cavmont Bank

ZAMBIA – Access Bank Zambia, a subsidiary of Nigeria’s Access Bank Plc, has reached a definitive agreement with Cavmont Capital Holdings Zambia Plc (CCHZ) to acquire Cavmont Bank Ltd. According to a statement by Access Bank, the deal is a highly complementary transaction that is expected to combine Access Bank Zambia’s wholesale and trade finance capabilities with Cavmont Bank’s retail and commercial banking operations. The proposed transaction which, in the meantime is still subject to relevant shareholder and regulatory approvals, is also expected to better position Access Bank Zambia as…

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