• About Us
  • Terms & Conditions
  • Contact Us
Sunday, June 4, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Suspected herdsmen ambush Benue policemen, kill DPO

    Again, terrorists kill over 25 in fresh Benue attack 

    More than 280 killed in India’s worst train accident in over 20 years

    More than 280 killed in India’s worst train accident in over 20 years

    Tinubu has chosen a Muslim running mate

    Minimum wage will be reviewed to reflect current realities – Tinubu

    Naira Redesign: Gbajabiamila threatens to issue arrest warrant on Emefiele, bank Chiefs

    Speaker Gbajabiamila reacts to CoS appointment, says when he’ll assume office

    JUST IN: Ajaero emerges new NLC national president

    BREAKING: NLC declares nationwide strike from Wednesday

    Full Text: Tinubu’s inaugural speech as president of Nigeria

    JUST IN: Tinubu appoints SGF, Chief of Staff, DCoS

    Full Text: Tribunal releases Obi’s pre-hearing report

    JUST IN: Tribunal adjourns Obi’s case to Monday, admits evidence from Lagos, others

    Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance

    2023 Budget: More money for streetlight construction than schools and health centres combined – Report

    VIDEO: US President Joe Biden tumbles onstage at Airforce graduation

    VIDEO: US President Joe Biden tumbles onstage at Airforce graduation

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    How to obtain foreign currency from Teller Points at Bank branches

    We did not devalue Naira – CBN

    How to obtain foreign currency from Teller Points at Bank branches

    CBN Devalues Naira to 630/US$1 at the I&E Window – Reports

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained 5.22% on bullish performance

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    The NGX- ASI declined by 0.09% as ACCESSCORP falls 3.32%,

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX ASI Closed Negative By 0.75% as BUA Cement loses 8.02%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Breaking: NNPC releases statement on fuel price adjustment

    Breaking: NNPC releases statement on fuel price adjustment

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    Zenith Bank Directors acquired 17.78mn shares of the bank

    Caverton posts N566.05mn profit for Q1 2023

    Caverton posts N566.05mn profit for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Suspected herdsmen ambush Benue policemen, kill DPO

    Again, terrorists kill over 25 in fresh Benue attack 

    More than 280 killed in India’s worst train accident in over 20 years

    More than 280 killed in India’s worst train accident in over 20 years

    Tinubu has chosen a Muslim running mate

    Minimum wage will be reviewed to reflect current realities – Tinubu

    Naira Redesign: Gbajabiamila threatens to issue arrest warrant on Emefiele, bank Chiefs

    Speaker Gbajabiamila reacts to CoS appointment, says when he’ll assume office

    JUST IN: Ajaero emerges new NLC national president

    BREAKING: NLC declares nationwide strike from Wednesday

    Full Text: Tinubu’s inaugural speech as president of Nigeria

    JUST IN: Tinubu appoints SGF, Chief of Staff, DCoS

    Full Text: Tribunal releases Obi’s pre-hearing report

    JUST IN: Tribunal adjourns Obi’s case to Monday, admits evidence from Lagos, others

    Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance

    2023 Budget: More money for streetlight construction than schools and health centres combined – Report

    VIDEO: US President Joe Biden tumbles onstage at Airforce graduation

    VIDEO: US President Joe Biden tumbles onstage at Airforce graduation

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    How to obtain foreign currency from Teller Points at Bank branches

    We did not devalue Naira – CBN

    How to obtain foreign currency from Teller Points at Bank branches

    CBN Devalues Naira to 630/US$1 at the I&E Window – Reports

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained 5.22% on bullish performance

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    The NGX- ASI declined by 0.09% as ACCESSCORP falls 3.32%,

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Femi Otedola sales N820.67mn worth of Geregu Power Plc Shares

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX ASI Closed Negative By 0.75% as BUA Cement loses 8.02%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Breaking: NNPC releases statement on fuel price adjustment

    Breaking: NNPC releases statement on fuel price adjustment

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    Zenith Bank’s Board of Directors approve payment of final dividend for 2022

    Zenith Bank Directors acquired 17.78mn shares of the bank

    Caverton posts N566.05mn profit for Q1 2023

    Caverton posts N566.05mn profit for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Seplat Energy announces US3 cents interim dividend for Q1 2023

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    Tengen Holdings acquires 220mn shares of Access Holdings Plc

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Business

Access Bank Plc acquires Cavmont Bank Zambia Ltd through its subsidiary

Thursday, 6 August 2020, 6:21 pm
in Business, Companies
0
Access Bank Refunds Customers Stamp Duty Charge
Share Share Share Share Send as Email

Recall that Investogist reported on 8 July reported that discussion is ongoing for the acquisition of 100% equity interest in Cavmont Bank Zambia Ltd by Access Bank Zambia (ABZ) Limited, a wholly owned subsidiary of Access Bank Plc.

The Board of Access Bank Plc, on Thursday announced that ABZ has entered into a definitive agreement with Cavmont Capital Holdings Zambia (CCHZ) Plc, regarding the proposed acquisition and subsequent merger of the operation of Cavmont Bank into Access bank Zambia. The transaction is expected to be to be completed during the fourth quarter of 2020.

This is according to the notification issued to the Nigerian Stock Exchange (NSE) by Access Bank Plc on Thursday, signed by the company secretary, Sunday Ekwochi.

Under the proposed agreement which is subject to the approval of the “relevant shareholders”, Access Bank Zambia will acquire the “entire issued ordinary share capital, assets and liabilities of Cavmont Bank.”

According to the agreement,  Capricorn Group Limited, the ultimate majority shareholder of CCHZ, will invest at least $16.5 million of preference shares into ABZ. The preference shares will be held by Capricorn for five year period, after which it will be acquired by Access Bank Plc.

  • Have you read?
  • OPEC accounts for over 79% of World proven oil reserve
  • Unilever Plc to conclude separation of its tea business by the end of 2021

Herbert Wigwe, Group Managing Director of Access Bank Plc, while commenting on the transaction said that “Access Bank is focused on building the scale needed to become a leading bank in its key operating markets, through leveraging the right partnerships. This transaction underscores our approach, and is another stepping stone towards delivering on our strategic aspirations of becoming the World’s Most Respected African Bank, and Africa’s Gateway to the World. It will strengthen our presence in Zambia, while furthering our footprint for growth in the COMESA region, Africa’s Largest free trade area.

“Over the years, we have worked to build a sustainable international bank of African origin that can expand the potential of businesses, support economic prosperity, facilitate trade and investment and extend the power of banking to millions of people, who do not yet have the financial tools to achieve their dreams. This proposed transaction aligns with that strategy.”

Access Bank is into the business of commercial banking. It was incorporated on February 8th 1989 and listed on the Nigerian Stock Exchange in 1998, under the financial services sector and banking subsector.

The bank operates over 600 branches in 12 countries. It has over 36 million customers and employs 28,000 people in Nigeria, Sub-Saharan Africa and the United Kingdom, with representative offices in China, Lebanon India and the UAE.

The share price dropped by 0.78% to close at N6.35 per share on Thursday on the Nigerian Stock Exchange.

Written by by;

Ifunanya Ikueze

Related Posts:

  • Access Bank Plc - Acquisition of 100% Equity Interest in Cavmont Bank Zambia Ltd by Access Bank Zambia Ltd
    Access Bank Plc - Acquisition of 100% Equity Interest in…
  • Access Bank (Zambia) Limited completes acquisition of Cavmont Bank Limited
    Access Bank (Zambia) Limited completes acquisition of…
  • Access Bank Plc signs binding agreement to merge with African Banking Corporation Zambia Ltd
    Access Bank Plc signs binding agreement to merge with…
  • Union Bank Plc: Access Bank, Zenith Bank, & Others in potential tussle to acquire century old UBN
    Union Bank Plc: Access Bank, Zenith Bank, & Others in…
Previous Post

Equity Investors record gains in four straight trading days, driven by Guaranty, Stanbic & others

Next Post

Conoil Plc suffers 67% drop in Profit after Tax in H1 2020

Next Post
Conoil Plc announces N2.00 dividend for the period ended 31 December 2019

Conoil Plc suffers 67% drop in Profit after Tax in H1 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

JUST IN: Ajaero emerges new NLC national president

BREAKING: NLC declares nationwide strike from Wednesday

The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

Suspected herdsmen ambush Benue policemen, kill DPO

Again, terrorists kill over 25 in fresh Benue attack 

Karim Benzema to leave Real Madrid, expected to sign for a Saudi Club

Karim Benzema to leave Real Madrid, expected to sign for a Saudi Club

Real Madrid confirms termination of Eden Hazard’s contract

Real Madrid confirms termination of Eden Hazard’s contract

Manchester City defeats Manchester United to win 2023 FA Cup

Manchester City defeats Manchester United to win 2023 FA Cup

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist