Africa-Press – Mozambique. The ABC (African Banking Corporation) Mozambique bank, ranked eighth in terms of total assets in the country, on Friday announced its merger, as of December 21, with Access Bank.
“Having obtained all legal and statutory authorisations and consents for the purposes of the merger”, it “will culminate in the extinction of the ABC Mozambique bank on December 21, 2021”, reads a statement.
Nigeria-based Access Bank started operations in Mozambique in September, 2020, and announced at the time the acquisition of ABC, together creating the “seventh largest bank in Mozambique”, majority-owned by the Nigerian bank.
The ABC bank has a presence in six provinces in Mozambique.
The amounts of the deal were not disclosed.
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