Company to Now Operate as Access Bank Tanzania Limited
L-R: Hassan Abdullahi, Deputy Managing Director, Access Bank Tanzania; Henrietta Agyemang, Team Member, Financial Control, Access Bank Ghana; Imani John, Country Managing Director, Access Bank Tanzania; Eloho Onoberhie, Team Member, Subsidiaries, Access Bank Plc, and Olajumoke Oluwakemi Ajayi, Chief Operating Officer, Access Bank Tanzania, at the event to mark Access Bank Tanzania's 'Operational Day 1' in Dar-es-salaam on Wednesday, September 25, 2024.
Access Bank PLC (“Access Bank”) has successfully
satisfied all legal and regulatory requirements to complete its acquisition of
African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” or
“BancABC”). With the acquisition now finalised, the entity in Tanzania will
operate under the name Access Bank Tanzania Limited, further consolidating
Access Bank’s presence in the East African region.
This milestone also builds on Access Bank’s recent acquisition of the
consumer, private, and business banking operations of Standard Chartered Bank
Tanzania. The newly formed Access Bank Tanzania will leverage its inherent strength
and that of its parent company, Access Bank Plc, to offer a comprehensive suite
of financial solutions aimed at fostering economic growth in Tanzania.
Commenting on this significant milestone, Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank Plc, stated:
“This milestone represents a crucial step in our East African growth
strategy, reinforcing our commitment to Tanzania's economic development. By
integrating BancABC Tanzania into the Access Bank Group, we will enhance our
ability to provide diverse and innovative financial solutions to meet the
evolving needs of our customers. Our goal is to facilitate greater inter- and
intra-African trade, while empowering local communities, especially women and
youth, through improved access to banking services and financial opportunities.”
John Imani, Managing Director of Access Bank Tanzania, also shared his
perspective, saying, “We are excited to officially become part of the Access
Bank family. This marks a new era for our operations as we bring together the
best of both institutions to create a stronger and more competitive bank that
will serve the needs of our customers. Our shared commitment to delivering
excellent service and driving financial inclusion will guide us as we integrate
and grow in Tanzania.”
With the conclusion of the acquisition, Access Bank Tanzania customers will
benefit from banking with an institution possessing a world-class class
payments gateway and supported by a dynamic ecosystem of local and
international partnerships. Furthermore, Access Bank’s international expansion
and its deepened presence in key trading corridors across Africa, enables it to
bridge the gap between cross-border and domestic transfers across all business
segments while servicing global payments and remittances efficiently.
Access Bank is committed to making a lasting, positive impact to the communities we serve. The Bank brings its proven track record of positively impacting communities and the environment from across the countries in which it operates to the forefront of its Tanzanian operations, ensuring that its growth supports not only economic progress but also environmental preservation and community development. Through these efforts and more, Access Bank Tanzania will contribute to creating a more sustainable future for the nation.
Access Bank, a wholly owned subsidiary of Access
Holdings Plc, is a leading full-service commercial bank operating through a
network of more than 700 branches and service outlets spanning 3 continents, 23
countries and over 60 million customers. The Bank employs over 28,000 people in
its operations in Africa and Europe, with representative offices in China,
Lebanon, India, Hong Kong and the UAE.
Access Bank’s parent company, Access Holdings Plc,
has been listed on the Nigerian Stock Exchange since 1998. The Bank is a
diversified financial institution which combines a strong retail customer
franchise and digital platform with deep corporate banking expertise, proven
risk management and capital management capabilities. The Bank services its
various markets through three key business segments: Corporate and Investment Banking,
Commercial Banking, and Retail Banking. The Bank has enjoyed what is
arguably Africa’s most successful banking growth trajectory in the last 22
years, becoming one of the continent’s largest retail banks.
As part of its continued growth strategy, Access
Bank is focused on mainstreaming sustainable business practices into its
operations. The Bank strives to deliver sustainable economic growth that is
profitable, environmentally responsible, and socially relevant, helping
customers to access more and achieve their dreams.
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