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Botswana: Access Bank acquires BancABC

Access Bank Plc has reached an agreement with Atlas Mara to acquire a majority stake in African Banking Corporation in Botswana, sources close to the matter reported on Monday 19 April. The amount of the transaction was not disclosed, but the sum will include a deferred portion payable 24 months after the closing of the deal. A final agreement is expected in the second quarter of the year, subject to regulatory approval from the relevant authorities.

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