Access Bank Botswana Limited (‘the Bank’) to day announces that Access Bank Plc (‘AB Plc’) its parent company has completed a Scheme of Arrangement between it and holders of its fully paid ordinary shares which has resulted in the establishment of a new Non-Operating Financial Holding Company – Access Holdings Plc – becoming the listed parent entity of AB Plc and the related group companies.
The restructuring is a natural evolution for AB Plc which has over the past 20 years set its sights on and delivered ambitious plans to transform the African financial services landscape. AB Plc has been focused on becoming the World’s Most Respected African Bank and is now Nigeria’s largest bank by assets and Africa’s largest bank by customer base. It is now time to take the next transformative step and offer customers interconnected but more than banking services leveraging the HoldCo structure to meet their needs. The emerging Holdco structure would enable the group transform into a globally connected community and ecosystem, inspired by Africa, for the world.
The restructuring does not change the Bank’s licence scope, operation and/or ownership structure as AB Plc remains its controlling shareholder.