The Bank of Zambia has approved the acquisition of African Banking Corporation limited (Atlas Mara) by Access Bank of Zambia limited and the subsequent merger of the two entities effective March, 2023.
In a press statement availed to the media by Bank of Zambia Assistant Director, Communications, Besnat Mwanza says the approval is reflective of the Bank of Zambia’s commitment to financial systems stability and support the Banking sector in playing a meaningful role in economic development.
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Ms Mwanza has since informed the public that in the meantime, the two Banks will operate as two separate entities until the process of regulatory consolidation and transitioning has been concluded.
She said once concluded, the merged Banks will operate as Access Bank Zambia limited.
The Bank of Zambia has since encouraged customers and members of the public who have queries on this acquisition and merger to directly contact Access Bank of Zambia.
