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Access Bank divests stake in Cote d ’Ivoire subsidiary

03 January 2014, 21:32

Lagos - Access Bank Plc has sold its entire stake in its Cote d ’Ivoire subsidiary, Access Bank Cote d’Ivoire.

The Board of Directors of the bank has approved the divestment, which was concluded via a direct sale of the bank’s entire equity holding, reports Vanguard.

The bank’s entire equity was sold to Afriland First Group SA, a full service financial services group based in the Republic of Cameroun with operations in Congo (DR), Equatorial Guinea, Sao Tome & Principe and Zambia.

The bank has received approval from both the Central Bank of Nigeria and the Central Bank of West African States (BCEAO) to go ahead with the planned divestment.

Read more at Vanguard

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