NIGERIA — Access Holdings Plc's subsidiary, Access Bank Plc, has entered into agreements to acquire Standard Chartered Bank's majority shareholdings in its subsidiaries in Angola, Cameroon, The Gambia and Sierra Leone, as well as its Consumer, Private and Business Banking business in Tanzania.
In a statement, Access Holdings said the deal would give the Nigerian bank a deeper reach in existing and new countries across Africa.
Access Bank has also acquired a majority equity stake in African Banking Corporation Tanzania. The transactions are expected to be completed within the next year.
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