After buying the assets of Atlas Mara in Mozambique at the end of September 2020, Access Bank Plc wants to acquire its other stakes in Zambia, Botswana and Zimbabwe.

Nigeria's largest bank by assets is in talks with Atlas Mara officials for the acquisition deal, sources familiar with the matter report on Wednesday (December 2nd). This new transaction demonstrates Atlas Mara's desire to focus on its other activities, deemed more profitable in a difficult coronavirus context.

According to official statistics, the structure has lost 96% of its value since its listing on the London Stock Exchange in 2013. In this dynamic, the company agreed last week to sell its Rwandan and Tanzanian subsidiaries to KCB Group Plc of Kenya.

Note that Access Bank Plc recorded a profit after tax (EBT) up 16% ⁱⁿ the 3rd quarter of 2020, or 102.3 billion naira (270 million dollars) against 88.4 billion naira (232 million dollars) in the same period last year.

Present in 7 African countries (Sierra Leone, Gambia, Ghana, Nigeria, Rwanda, Zambia and Congo), Access Bank plans to expand its activities in 22 countries on the continent by 2024.