LAGOS - Access Holdings Plc, through its banking subsidiary Access Bank Plc, is poised to expand its footprint in the African banking sector with the acquisition of a majority stake in Uganda's Finance Trust Bank Limited (FTB). This strategic move is part of Access Bank's ambitious five-year plan to position itself as Africa's Payment Gateway to the World.
The acquisition is anticipated to be finalized in the first half of 2024, pending the necessary regulatory approvals from both Nigerian and Ugandan authorities. Roosevelt Ogbonna, the Managing Director of Access Bank, emphasized the significance of this development in enhancing the bank's presence in East Africa. The move is expected to allow Access Bank to tap into the burgeoning regional trade opportunities, further solidifying its status in the African financial landscape.
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