Access Bank Zambia Limited (“Access Bank”) announced today that it has completed its acquisition of African Banking Corporation Zambia Limited, trading as Atlas Mara Zambia (“Atlas Mara”) after obtaining all requisite regulatory approvals. Atlas Mara is now a wholly owned subsidiary of Access Bank Zambia. Following this regulatory milestone, the two banks will continue to operate separately until all integration related processes are finalised. Once the merger is complete, the combined entities will become one of Zambia’s top five banks by revenue with prospects to be in the top three by 2027.
Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, 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 harmonising 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.”
Lishala Situmbeko, CEO Access Bank Zambia, added, “We are extremely pleased that this transaction has come to a close. By bringing together these two great businesses, we are creating a stronger, more competitive financial institution that will play a role in delivering on Zambia’s economic recovery. We look forward to leveraging the operational and cultural strengths of both businesses to benefit all stakeholders. As we continue to finalise the alignment of our products and services, we will ensure that our customers continue to enjoy the benefits of the broader product suite in the future.Ultimately, we want to continue to deliver a holistic service offering that benefits our customers from a shared focus on financial inclusion and digital banking.”
Atlas Mara Acting Managing Director Bobbline Cheembela, said, “Combining with Access Bank allows us to bring together the best qualities, capabilities and resources of both organisations. Atlas Mara’s expansive network and contribution to the public sector and capability in global markets and treasury, combined with Access Bank’s focus on SMEs and making trade finance, treasury, and corporate lending expertise available to Zambian MNCs and SMEs has not only created an industry leader, but a champion for our country. We now have a better rounded and more comprehensive skill set available to us as a combined business and this enables us to better serve our customers and other stakeholders.”
With the legal acquisition concluded, the two banks will work behind the scenes to ensure a smooth changeover once the merger concludes. In the interim customers will continue to be serviced through their usual bank, being Access Bank or Atlas Mara. The company’s immediate focus is on integrating the two businesses and working towards operating as a single entity with a single staff complement as well as harmonised products and services.
Cookie | Duration | Description |
---|---|---|
__hssrc | session | This cookie is set by Hubspot. According to their documentation, whenever HubSpot changes the session cookie, this cookie is also set to determine if the visitor has restarted their browser. If this cookie does not exist when HubSpot manages cookies, it is considered a new session. |
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
__hssc | 30 minutes | This cookie is set by HubSpot. The purpose of the cookie is to keep track of sessions. This is used to determine if HubSpot should increment the session number and timestamps in the __hstc cookie. It contains the domain, viewCount (increments each pageView in a session), and session start timestamp. |
bcookie | 2 years | This cookie is set by linkedIn. The purpose of the cookie is to enable LinkedIn functionalities on the page. |
lang | session | This cookie is used to store the language preferences of a user to serve up content in that stored language the next time user visit the website. |
lidc | 1 day | This cookie is set by LinkedIn and used for routing. |
Cookie | Duration | Description |
---|---|---|
__hstc | 1 year 24 days | This cookie is set by Hubspot and is used for tracking visitors. It contains the domain, utk, initial timestamp (first visit), last timestamp (last visit), current timestamp (this visit), and session number (increments for each subsequent session). |
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_ga_7830NTLLXS | 2 years | This cookie is installed by Google Analytics. |
_ga_8FT0WQ6XG7 | 2 years | This cookie is installed by Google Analytics. |
_gat_UA-199321007-1 | 1 minute | This is a pattern type cookie set by Google Analytics, where the pattern element on the name contains the unique identity number of the account or website it relates to. It appears to be a variation of the _gat cookie which is used to limit the amount of data recorded by Google on high traffic volume websites. |
_gcl_au | 3 months | This cookie is used by Google Analytics to understand user interaction with the website. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
hubspotutk | 1 year 24 days | This cookie is used by HubSpot to keep track of the visitors to the website. This cookie is passed to Hubspot on form submission and used when deduplicating contacts. |
Cookie | Duration | Description |
---|---|---|
_fbp | 3 months | This cookie is set by Facebook to deliver advertisement when they are on Facebook or a digital platform powered by Facebook advertising after visiting this website. |
bscookie | 2 years | This cookie is a browser ID cookie set by Linked share Buttons and ad tags. |
fr | 3 months | The cookie is set by Facebook to show relevant advertisments to the users and measure and improve the advertisements. The cookie also tracks the behavior of the user across the web on sites that have Facebook pixel or Facebook social plugin. |
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
Cookie | Duration | Description |
---|---|---|
AnalyticsSyncHistory | 1 month | No description |
CONSENT | 16 years 6 months 1 day 12 hours | No description |
li_gc | 2 years | No description |
UserMatchHistory | 1 month | Linkedin - Used to track visitors on multiple websites, in order to present relevant advertisement based on the visitor's preferences. |
yt-remote-connected-devices | never | No description available. |
yt-remote-device-id | never | No description available. |