• Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
  • ‘Give us our land back’- SaleshandoJune 2, 2025
    Demands return of 22 000 ha in Okavango Delta to Ngamiland residents Accuses Masisi govt of land grabbing, calls for restoration of tribal Land SOLOMON TJINYEKA editors@thepatriot.co.bw RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando Mining… Read more: ‘Give us our land back’- Saleshando
  • Mining sector endures worst recessionMay 27, 2025
    Mining shows zero confidence on better business conditions Weaker global demand of rough diamonds trouble the sector Other sectors optimistic about improved conditions in 2025   BAKANG TIRO RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Mining sector endures worst recession
  • Who is the PSP PROTECTING?May 27, 2025
    “She is protecting those facing corruption probe, hence removing DCEC intelligence head”- claim The DCEC recently confirmed that it was investigating some senior govt officials   DITIRO MOTLHABANE RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Who is the PSP PROTECTING?
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Monday, June 2, 2025
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

Atlas Mara to sell BancABC Botswana

patriot by patriot
April 19, 2021
in Business
237
0
BancABC Managing Director, Kgotso Bannalotlhe

BancABC Managing Director, Kgotso Bannalotlhe

491
SHARES
1.4k
VIEWS
ShareShareShare

Strategic Transaction with Access Bank Plc for BancABC Botswana

Atlas Mara Limited and including its subsidiaries, the sub-Saharan African financial services group, announces that its subsidiary, ABC Holdings Limited, has entered into definitive agreements with Access Bank Plc  for the sale of ABCH’s holdings in African Banking Corporation Botswana. The Transaction is subject to fulfillment of various customary conditions precedent including certain regulatory requirements and consents from other relevant authorities and certain counterparties.

As part of the Transaction, Access Bank will acquire ABCH’s 78.15% shareholding in BancABC Botswana for cash consideration representing approximately 1.13 times book value including a deferred portion payable 24 months after closing of the transaction, subject to certain conditions. The Transaction is expected to conclude in the second quarter of 2021, assuming all relevant approvals are received by then.

RelatedPosts

‘Raise capital through BSE’

Mining sector endures worst recession

VP applauds the Northern Trade Fair

Michael Wilkerson, Chairman of Atlas Mara, said, “The Transaction announced today is consistent with the objectives articulated by the Company as part of its previously-announced strategic review and overall debt restructuring. The pandemic-related economic slowdown in 2020 led to a broadening of the initially-announced strategic review and an acceleration of potential transaction discussions in-line with the Company’s objective of a comprehensive restructuring of the Company’s and ABCH’s balance sheets. This Transaction, like the previously announced transactions for Mozambique, Rwanda and Tanzania, is consistent with this strategy and will help realize value for the Group’s creditors and other stakeholders.

He continued, “BancABC Botswana has achieved a great deal since Atlas Mara’s initial investment in 2014, including in digital adoption and in growing a high-quality retail operation. Management have shown strong resilience and further innovation during the pandemic-related economic slowdown of 2020, and we thank the team for their hard work. By combining with Access Bank’s infrastructure, including its digital offerings and its corporate and SME capabilities, the bank will be well positioned to continue the positive trajectory and succeed in the macroeconomic recovery to come.”

[ACCESSWIRE]

Related

Tags: BancABC Managing Director

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

Unsubscribe
Previous Post

VACANCY ANNOUNCEMENT: BIUST

Next Post

Gumbo replaces the late Bright at Sua

Related Posts

‘Raise capital through BSE’
Business

‘Raise capital through BSE’

June 2, 2025
Mining sector endures worst recession
Business

Mining sector endures worst recession

May 27, 2025
VP applauds the Northern Trade Fair
Business

VP applauds the Northern Trade Fair

May 26, 2025
ALC’s STRATEGIC investment
Business

ALC’s STRATEGIC investment

May 19, 2025
Stanbic boosts green economy
Business

Stanbic boosts green economy

May 12, 2025
STRONG, FOCUSED FORCE OF NATURE
Business

STRONG, FOCUSED FORCE OF NATURE

May 7, 2025
Next Post
Gumbo replaces the late Bright at Sua

Gumbo replaces the late Bright at Sua

Please login to join discussion
  • Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
  • ‘Give us our land back’- SaleshandoJune 2, 2025
    Demands return of 22 000 ha in Okavango Delta to Ngamiland residents Accuses Masisi govt of land grabbing, calls for restoration of tribal Land SOLOMON TJINYEKA editors@thepatriot.co.bw RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando Mining… Read more: ‘Give us our land back’- Saleshando
  • Mining sector endures worst recessionMay 27, 2025
    Mining shows zero confidence on better business conditions Weaker global demand of rough diamonds trouble the sector Other sectors optimistic about improved conditions in 2025   BAKANG TIRO RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Mining sector endures worst recession
  • Who is the PSP PROTECTING?May 27, 2025
    “She is protecting those facing corruption probe, hence removing DCEC intelligence head”- claim The DCEC recently confirmed that it was investigating some senior govt officials   DITIRO MOTLHABANE RelatedPosts ‘Raise capital through BSE’ ‘Give us our land back’- Saleshando… Read more: Who is the PSP PROTECTING?
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

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

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

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

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?