Access Acquires 3 Banks in Cote D’Ivoire, Rwanda, DRC

By Linda Elueme of ThisDay Online

"In line with its African expansion strategy, which commenced in March 2007, Access Bank Plc has acquired three commercial banks operating in Cote D’Ivoire, Rwanda and the Democratic Republic of Congo (DRC).

Access Bank disclosed this in a statement made available to THISDAY over the weekend. Giving a breakdown of the terms of acquisition, Access Bank said it has acquired an 88 per cent interest in Omnifinance Bank, Cote D’Ivoire through a combination of purchase of existing shares and injection of additional capital. Omnifinance Bank now has a capital base in excess of US$20million.

Access Bank, which recently had a highly successful fund raising exercise, also acquired 75 per cent interest in Bancor Bank of Rwanda and a 90 per cent interest in Banque Privée du Congo."

Complete story at "Access Acquires 3 Banks in Cote D’Ivoire, Rwanda, DRC"

Category: Rwanda + Banking + Investment + Economy