Access Bank Botswana
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Access Bank Botswana, is a
commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...
formerly known as BancABC Botswana, that is headquartered in
Gaborone Gaborone ( , , ) is the Capital city, capital and List of cities in Botswana, largest city of Botswana, with a population of 246,325 based on the 2022 census, about 10% of the total population of Botswana. Its metropolitan area is home to 534, ...
,
Botswana Botswana, officially the Republic of Botswana, is a landlocked country in Southern Africa. Botswana is topographically flat, with approximately 70 percent of its territory part of the Kalahari Desert. It is bordered by South Africa to the sou ...
. In October 2021, Access Bank Group concluded the acquisition of 78.15 percent shareholding in the stock of the erstwhile ''BancABC Botswana''. The bank subsequently rebranded to its current name to reflect its shareholding. The shares of stock of Access Bank Botswana are traded on the
Botswana Stock Exchange The Botswana Stock Exchange (BSE) is a stock exchange located in Gaborone, Botswana. The Botswana share market was established in 1989 and became the Botswana Stock Exchange in 1994. It is governed by the Botswana Stock Exchange Act. The BSE ha ...
, under the symbol: ACCESS. The company shareholding amounting to 21.85 percent that is not controlled by Access Bank Group is free-floating on the BSE.


Overview

Access Bank Botswana was the fifth largest financial services provider in Botswana, as of October 2021. The bank is a subsidiary of
Access Bank Group Access Bank Group is a financial services conglomerate, headquartered in Nigeria, with subsidiaries in Angola, the Democratic Republic of the Congo, Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, The Gambia, Guinea, Cameroon, Sierra Leone, Malta, ...
, a financial services conglomerate based in Nigeria, with subsidiaries in nine sub-Saharan countries, the United Kingdom and the United Arab Emirates. The group also maintains representative offices in China, India and Lebanon. The group's shares of stock are listed on the
Nigerian Stock Exchange The Nigerian Stock Exchange (NGX), now Nigerian Exchange Group, is an integrated stock exchange group in Africa founded in 1961 in Lagos. Following the demutualization of the NSE in 2021, NGX Group now has 3 subsidiaries - Nigerian Exchange Limit ...
under the symbol ''ACCESS''. As of 31 December 2021, Access Bank Group had total assets in excess of US$28 billion.


History

The establishment of ABC Holdings Limited commenced with a merger between First Merchant Bank (FMB) and Heritage Investment Bank (HIB) in 1997. ABC Holdings Limited was registered and listed on the
Botswana Stock Exchange The Botswana Stock Exchange (BSE) is a stock exchange located in Gaborone, Botswana. The Botswana share market was established in 1989 and became the Botswana Stock Exchange in 1994. It is governed by the Botswana Stock Exchange Act. The BSE ha ...
, with a secondary listing on the
Zimbabwe Stock Exchange The Zimbabwe Stock Exchange, or ZSE, is the official stock exchange of Zimbabwe. Its history dates back to 1896 but has only been open to foreign investment since 1993. The exchange has about a dozen members, and currently lists 63 equities. The ...
in 2000. The certification committee of the Botswana International Financial Services Centre (IFSC) granted IFSC status to both ABC Holdings Limited and African Banking Corporation (International) Limited, which is a 100 percent subsidiary of ABC Holdings Limited. In April 2009, the bank re-branded to BancABC. On 31 March 2014, Atlas Mara Co-Nvest Limited announced its offer to acquire ABC Holdings Limited. Atlas Mara made direct agreements with existing shareholders to acquire up to 88 percent of the group and subsequently make a mandatory offer for the remaining 12 percent stake in BancABC. This acquisition deal was valued at approximately US$265 million. The acquisition was concluded on 28 November 2014 and ABC Holdings Limited's stock was delisted from the BSE and ZSE. The bank was acquired by
Access Bank Group Access Bank Group is a financial services conglomerate, headquartered in Nigeria, with subsidiaries in Angola, the Democratic Republic of the Congo, Ghana, Ivory Coast, Kenya, Nigeria, Rwanda, The Gambia, Guinea, Cameroon, Sierra Leone, Malta, ...
in 2021.


Ownership

The shares of stock of Access Bank Botswana are listed on the Botswana Stock exchange, where they trade under the symbol ''ACCESS''. The table below illustrates the shareholding in the stock of Access Bank Botswana, as of October 2021


See also

*
List of banks in Botswana This is a list of commercial banks in Botswana, as updated by the Bank of Botswana by late 2024. List of commercial banks * ABSA Bank Botswana Limited, part of Absa Group * Access Bank Botswana Limited (formerly BancABC), part of Access Bank Gr ...
* List of companies of Botswana *
List of banks in Africa This is a list of banks in Africa, arranged by country in alphabetical order. Since comprehensive lists are available on a country-by-country basis, only the most important domestic banks are indicated for each country. Algeria * Bank of Algeri ...
*
List of companies in Gaborone A list is a set of discrete items of information collected and set forth in some format for utility, entertainment, or other purposes. A list may be memorialized in any number of ways, including existing only in the mind of the list-maker, but ...


References


External links

* {{Authority control Banks of Botswana Botswana companies Access Bank Group Gaborone Banks established in 1997 1997 establishments in Botswana