Expansion Goals: Access Bank Announces Acquisition of BancABC Tanzania

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In its journey to become the world’s most respected African Bank, Access Bank Plc has completed the acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” or “BancABC”).

The Bank’s successful acquisition of BancABC Tanzania would result in the merger of BancABC activities with Standard Chartered Bank Tanzania’s consumer, private, and business banking operations to form a new company known as Access Bank Tanzania.

While speaking on the acquisition, the Managing Director/Chief Executive Officer of the Bank, Roosevelt Ogbonna, said: “This strategic move represents a notable step towards setting a railroad in Tanzania for intra-African trade within the East African region, Africa and the rest of the world.

“It underscores our commitment to creating a robust East African banking network, driving positive change and innovation.”

“We are excited about the opportunities this acquisition presents for our operations in Tanzania and are eager to leverage our combined strengths to deliver exceptional financial solutions and experiences to our customers.”

 

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