Access Bank Botswana granted banking licence

Access Bank Botswana Limited, which was formerly African Banking Corporation of Botswana Limited [T/A BancABC]), said all the regulatory formalities for the change of name have been completed. In a Botswana Stock Exchange filing, the bank said it has accordingly been issued with a new certificate of incorporation by the Companies and Intellectual Property Authority (CIPA) and consequently with a Banking licence by the Bank of Botswana effective November 8, 2021.

“The bank will therefore start trading on the Botswana Stock Exchange as Access Bank Botswana Limited, under the BSE Code “Access” effective November 29, 2021,” the bank said, through chairperson Lorato Mosetlhanyane.

Bank of Botswana earlier this year approved an application for the purchase and acquisition of the entire ordinary shares, numbering 566 584 954 (78.15 percent), held by African Banking Corporation Holdings Limited (ABCH) in African Banking Corporation of Botswana Limited (BancABC), by Access Bank PLC (Access Bank).

Access Bank PLC is a pan-African bank headquartered in Nigeria, with operations and representation in a number of jurisdictions in Africa, Asia, Europe and the Middle East. 

 The BoB added subject to satisfactory completion of the procedural regulatory conditions, “the transaction would result in effective transfer of the strategic ownership and controlling interest of BancABC to Access Bank, with the 78.15 percent singular majority shareholding”.