Facebook Feed

  • Skelemani mishandled Kgosi Mosadi Pan African Parliament furoreMarch 22, 2023
    Adam Phetlhe The ravaging inferno sparked by the purported resignation of Kgosi Mosadi Seboko from the Pan-African Parliament (PAP) is fuelled by the Speaker of the National Assembly, Phandu Skelemani mishandling the matter. Had he performed due diligence on […]
  • Ithuba to roll-out LottoMarch 22, 2023
    STAFF WRITERS editors@thepatriot.co.bw Ithuba Solutions Botswana is waiting with bated breath for an announcement on the issuance of a lottery license, by the Gambling Authority, following the successful conclusion of negotiations in December 2022, The Patriot on Sunday has […]
  • BDP rejects Living WageMarch 22, 2023
    BAKANG TIRO editors@thepatriot.co.bw Ruling Botswana Democratic Party (BDP) MPs on Friday defeated the motion proposed by MP for Nkange constituency Dr Never Tshabang, proposing for government to introduce a living wage, which will be adjusted according to the cost […]
  • Uganda passes a law making it a crime to identify as LGBTQMarch 22, 2023
    Report by Elias Biryabarema Reuters Uganda’s parliament passed a law on Tuesday making it a crime to identify as LGBTQ, handing authorities broad powers to target gay Ugandans who already face legal discrimination and mob violence. More than 30 […]
  • Ian Khama to receive African Icon Award  March 22, 2023
    KT Press Former Nigerian President, Dr. Goodluck Ebele Jonathan will headline other African greats who are set to be honoured at the maiden edition of The African Heritage Concert and Awards slated to hold in Kigali, Rwanda on April […]
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
  • Login
  • Register
Sunday, March 26, 2023
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Access Bank Botswana comes alive

patriot by patriot
May 6, 2021
in Business
240 12
0
Access Bank Botswana comes alive
491
SHARES
1.4k
VIEWS
ShareShareShare

Top Nigerian Access Bank takes over BancABC Botswana

Targets to have rebranded by Q3 2021

MD Wigwe promises that top posts will remain with locals

BAKANG TIRO

editors@thepatriot.co.bw

Following its successful acquisition of BancABC Botswana stake, the Nigerian founded leading bank Access Bank anticipates to be fully operational as Access Bank Botswana during Q3 2021.

The Nigerian‘s biggest lender, which is present in 12 markets in Africa, Europe and Asia, agreed has last week to buy a majority stake in African Bank Corporation Botswana.

Access Bank is expanding across the African continent to counter, among others the stagflation and dollar shortages in Nigeria that have frustrated businesses and shrinking the lending market.

The Bank Managing Director Herbert Wigwe said that the bank expansion into Botswana was premised on the economic potential that the country boasts of as strategic market in the region.

He said the acquisition of BancABC Botswana is a step in the right direction for the bank to robustly expand across the lucrative Southern African Development Community (SADC) market.

“Our expansion into Botswana will make the country a financial centre. Botswana is a resilient market with stable economic prowess. Our focus as we enter this promising market will be then looking at how Access Bank Botswana becomes a leading bank in the next three years,” he said.

Oozing with confidence, Wigwe said BancABC Botswana has been a resilient business and therefore he is confident that the business has potential to grow in leaps and bounds as Access bank too.

In addition, Wigwe said that the bank will remain listed on the Botswana Stock Exchange (BSE). He also promised that there will be no job losses due to transition from BancABC to Access bank.

“I can confidently say that there will be zero job losses and top management positions will still remain for the citizens. We are a business that believes in citizen empowerment. Moreover, our entrance into Botswana will come with more job opportunities as we will be carrying a massive growth drive across the country. A huge branding campaign is in the offing as well,” he stressed.

Furthermore, the outspoken consummate Nigerian banker revealed that the bank is embarking on expanding into major trade centres in Africa and across the globe. Wigwe said Access bank is targeting to reach 100 million customers milestone in 2022. Currently, he said the bank has over 40 million customers; thus reflecting large customer base.

He said the bank is worth US$22 billion, stressing that the figure will grow as bank expands. BancABC Managing Director Kgotso Bannalotlhe said it is very inspiring for the bank to be part of large Acess Bank Group, pointing out that the acquisition comes with lot of growth opportunities.

He said the opportunities include that the staff will be afforded jobs in other markets where the bank is present, maintaining that the bank will continue to empower local investors.

According to him, 22% of shareholding in the bank is held by the citizen investors.

“BancABC has grown tremendously in the last 10 years and with Access Bank coming on board this will take the bank to another level. We are the fourth largest profitable bank locally and Acess bank is also the third profitable bank in Nigeria. This paints how future is bright,” he said.

Access Bank has a footprint in some of the strong financial markets such as China, Hong Kong, Dubai and United Kingdom. In the SADC region it operates in South Africa and Mozambique.

Botswana is the latest market for the bank to expand into but Wigwe said it eyes more markets.

Related

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • Skelemani mishandled Kgosi Mosadi Pan African Parliament furoreMarch 22, 2023
    Adam Phetlhe The ravaging inferno sparked by the purported resignation of Kgosi Mosadi Seboko from the Pan-African Parliament (PAP) is fuelled by the Speaker of the National Assembly, Phandu Skelemani mishandling the matter. Had he performed due diligence on […]
  • Ithuba to roll-out LottoMarch 22, 2023
    STAFF WRITERS editors@thepatriot.co.bw Ithuba Solutions Botswana is waiting with bated breath for an announcement on the issuance of a lottery license, by the Gambling Authority, following the successful conclusion of negotiations in December 2022, The Patriot on Sunday has […]
  • BDP rejects Living WageMarch 22, 2023
    BAKANG TIRO editors@thepatriot.co.bw Ruling Botswana Democratic Party (BDP) MPs on Friday defeated the motion proposed by MP for Nkange constituency Dr Never Tshabang, proposing for government to introduce a living wage, which will be adjusted according to the cost […]
  • Uganda passes a law making it a crime to identify as LGBTQMarch 22, 2023
    Report by Elias Biryabarema Reuters Uganda’s parliament passed a law on Tuesday making it a crime to identify as LGBTQ, handing authorities broad powers to target gay Ugandans who already face legal discrimination and mob violence. More than 30 […]
  • Ian Khama to receive African Icon Award  March 22, 2023
    KT Press Former Nigerian President, Dr. Goodluck Ebele Jonathan will headline other African greats who are set to be honoured at the maiden edition of The African Heritage Concert and Awards slated to hold in Kigali, Rwanda on April […]
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?