Access Bank Zambia Completes The Acquisition of Atlas Mara

Access Bank Zambia has completed the acquisition of sub-Saharan Africa’s premier financial institution, Atlas Mara.

The acquisition deal was announced by the parent company Access Holdings, which comes eight months after the deal was announced.

With the completion of the acquisition, Access Bank Zambia will now move towards integrating and merging Atlas Mara Zambia into its operations, to create one of the top five banks in Zambia by total assets, with prospects to be in the top three by 2027,” the company said.

Commenting on the development, the Group Chief Executive Officer (GCEO) of Access Holdings, Herbert Wigwe said, Zambia is set to experience the best practices.

Also speaking on the acquisition, Managing Director/Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna said, 

“This marks a significant milestone for Access Bank Plc as we work towards achieving our vision of being the world’s most respected African bank. We are poised for success by harmonizing the robust brands, rich heritage, shared values, and best practices of both companies in creating opportunities that extend to all our stakeholders in Zambia and the SADC region.”

Ogbonna reiterated the bank’s commitment to synergizing the strengths, heritage, and shared values of both entities to usher in extensive opportunities for stakeholders in Zambia and the broader Southern African Development Community (SADC) region.

Lishala Situmbeko, the visionary CEO of Access Bank Zambia, echoed Ogbonna’s sentiments, describing the acquisition deal closure as a crucial moment for the banking sector. Situmbeko articulated the potential of synergizing operational and cultural strengths, a fusion aimed at benefiting all stakeholders while contributing significantly to Zambia’s economic resurgence.

When the two banks are fully integrated, customers will have access to more than 60 branches, five cash centers, eight agencies, more than 5,300 Tenga Express Agents, and more than 240 ATMs across the country.