DOCSLIB.ORG

Atlas Mara Introduction Presentation September 16, 2014 Important Information

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Atlas Mara Introduction Presentation September 16, 2014 Important Information DO NOT REPLICATE OR DISTRIBUTE Atlas Mara Introduction Presentation September 16, 2014 Important Information IMPORTANT INFORMATION This presentation has been prepared by Atlas Mara Co-Nvest Limited (the “Company”) for information purposes only in relation to the proposed conditional acquisition of a minority stake of Union Bank of Nigeria PLC (“UBN”). By attending the meeting where this presentation is made, or by reading this document, you agree to be bound by the following conditions. THIS PRESENTATION DOES NOT, AND IS NOT INTENDED TO, CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL, ISSUE, PURCHASE OR SUBSCRIBE FOR (OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR) ANY SECURITIES OF THE COMPANY (THE “SECURITIES”) IN ANY JURISDICTION. The distribution of this document and the offering of the securities in certain jurisdictions may be restricted by law or regulation. No action has been taken by the Company or any of its affiliates that would permit an offering of its securities or possession or distribution of this document or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required. Persons into whose possession this document comes are required by the Company to inform themselves about and to observe such restrictions. This document is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. In particular, this presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for Securities in the United States of America. The Securities discussed in this presentation have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or qualified for sale under the law of any state or other jurisdiction of the United States of America and may not be offered or sold in the United States of America except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Company is not and does not intend to become an “investment company” within the meaning of the U.S. Investment Company Act of 1940, as amended (the “U.S. Investment Company Act”), and is not engaged and does not propose to engage in the business of investing, reinvesting, owning, holding or trading in securities. Accordingly, the Company is not and will not be registered under the U.S. Investment Company Act and Investors will not be entitled to the benefits of that Act. Neither the United States Securities and Exchange Commission nor any securities regulatory body of any state or other jurisdiction of the United States of America, nor any securities regulatory body of any other country or political subdivision thereof, has approved or disapproved of this presentation or the Securities discussed herein or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States of America. No representation or warranty, express or implied, is given by or on behalf of the Company or any of the Company’s directors, officers or employees or any other person as to the fairness, accuracy or completeness of the information or opinions contained in this document and no liability is accepted whatsoever for any loss howsoever arising from any use of this presentation or its contents otherwise arising in connection therewith is accepted by any such person in relation to such information or opinions. There is no obligation on any person to update this presentation. No information included in this presentation is intended to be a profit forecast or a financial projection or prediction. No representations or warranties, express or implied, are given as to the achievement or reasonableness of, and no reliance should be placed on, statements pertaining to financial performance, including (but not limited to) any estimates, forecasts or targets contained herein. The achievability of the Company’s proposed strategy set out in this presentation and the delivery of any increase in shareholder value cannot be guaranteed. Please note that in this presentation, the Company may discuss events or results that have not yet occurred or been realised, commonly referred to as forward-looking statements. Such discussion and statements will often contain words as expect, anticipate, believe, intend, plan and estimate. Such forward-looking statements include statements regarding (i) the expected closing of the Transaction, (ii) Union Bank’s future financial and operational performance, (ii) expectations regarding the Company’s future operations and (iv) estimates regarding Union Bank’s market positions and strategic initiatives. These projections and statements are based on management's estimates and assumptions with respect to future events and future financial and operational performance. Actual results could differ materially from those expressed or implied by the forward- looking statements as a result of various factors, including (i) the ability and willingness of all parties to the definitive agreements entered into in connection with the Transaction to meet the closing conditions set forth in such agreements and (ii) economic conditions, competition and other risks that may affect Union Bank’s or future performance. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. | 2 Fastest Growing Region in the World Africa is an exciting frontier market with an extremely attractive growth profile supported by a healthy demographic and macro dynamics Africa: a Giant … … with Unparalleled Growth Prospects Population (bn) Real GDP Growth CAGR Real GDP per Capita Growth 1.1 6.5% 5.2% USA Africa 1.5 Africa Africa 2.4 7.2% 4.9% 1.3 7.5% India 4.7% EU India 1.4 Dev. Asia Dev. Asia 1.7 5.0% 5.5% Japan 1.4 5.4% 3.5% China 1.4 ME ME 1.3 4.8% 3.4% China 0.7 4.0% 3.4% Europe 0.7 LatAm LatAm 3.0% 0.7 3.9% UK 0.3 4.7% 3.6% Brazil CIS CIS US 0.3 4.0% 0.4 3.3% 0.6 3.0% 4.0% CEE LatAm 0.7 2013 CEE 3.1% 0.8 2025 3.0% 2010-2020 2010-2020 • Diversified Growth = over the past decade, the services sector has 2050 2020-2050 2020-2050 contributed over 50% of Africa’s GDP growth Source: Population Bureau. Source: CIRA. Source: CIRA. • Large Urban Centers = 52 cities with populations of 1 million or more, comparable to Western Europe Africa is expected to have the fastest growing population and GDP in the world, along with a strong GDP per Capita growth • Rapid Urbanization = proportion of people living in cities is higher than in India and will be 50% by 2030 Share of World Real GDP (%) • Expanding Middle Class = larger than India’s; 50% of Africa will have discretionary spending power by 2020 Increasing • Agricultural Potential = 60% of the world's uncultivated arable land relevance in 2010 2050 the global • Enhanced Regional Cooperation = Intra-African trade represents Africa Africa economy c.11% of total African trade, with significant room for growth 4% 12% Sources: Harvard Business Review, CIRA. Source: CIRA. | 33 Africa Provides the BETA, We Provide the ALPHA BETA ALPHA The African Opportunity The Team Fastest Growing Permanent Capital and Region in the World Enhanced Liquidity + + Clear Financial Well-Defined Services Growth Acquisition Strategy Opportunity + + GOAL Clearly Identified Significant CREATE THE Levers for Value = Opportunities Creation LEADING SUB- + + SAHARAN AFRICAN + Extensive Network to High Profitability at a Source Deals and FINANCIAL Reasonable Value Talent SERVICES + + INSTITUTION Capital, Liquidity, Disaggregated Markets Funding, Talent, Technology + + Demonstrated Track Population of 1 billion Record of Value Creation Underpinned by Strong Corporate Governance | 4 Atlas Mara: The Optimal Model “US prepares investment push into Africa…‘There "Is Atlas Mara start of institutional is clearly a sense of opportunity in Africa and investor stampede?...Atlas Mara is a the US government is embracing that’ ” breakthrough venture for Africa” Financial Times, May 28, 2014 African Banker, February 2014 “Initial investor response to Atlas Mara’s plans was “Bob Diamond’s decision to hire enthusiastic…‘If this new bank takes a different John Vitalo from the Dubai office of approach, it could unleash a whole new life for his former alma mater Barclays small businesses in Africa. I can’t wait!’” seems an obvious choice” Cornelie Ferguson in The Wall Street Journal, April 2, 2014 Financial Times, April 8, 2014 “Atlas Mara has secured a foothold in the "BRD is an opportunity for Atlas Mara to create a Southern African Development privately run financial services group in Community (SADC) through BancABC” Rwanda…That will be a boost to plans to build a Financial Times, April 8, 2014 financial industry for the region based in Rwanda.” Reuters, April 6, 2014 Source: Recent press articles following Atlas Mara public announcements | 5 Atlas Mara Footprint: Establishing Presence in 3 Major Trading Blocs Atlas Mara in Africa Valuation within Blocs in Sub-Saharan Africa Key Facts BRD ECOWAS: valuation: 1.0x Kenyan Sector ECOWAS • Through UBN, Atlas Mara will be pursuing an valuation(1): entry strategy into Nigeria and the broader 2.6x GDP $675.9bn ECOWAS region 2013 GDP Growth 6.0% Countries 15 • UBN will represent a significant ownership stake in a major banking platform Population 327m
Load more

Recommended publications
  • Our Values Underpin Our Growth
    our values underpin our growth ABC HOLDINGS LIMITED ANNUAL REPORT 2014 ABOUT BancABC ABC HOLDINGS LIMITED IS THE PARENT COMPANY OF A NUMBER OF BANKS OPERATING UNDER THE BANCABC BRAND IN SUB- SAHARAN AFRICA, WITH OPERATIONS IN BOTSWANA, MOZAMBIQUE, TANZANIA, ZAMBIA AND ZIMBABWE. A GROUP SERVICES OFFICE IS LOCATED IN SOUTH AFRICA. Our vision is to be Africa’s preferred banking partner by offering world-class financial solutions. We will realise this by building profitable, lifelong customer relationships through the provision of a wide range of innovative financial products and services – to the benefit of all our stakeholders. The Group offers a diverse range of services, including but not limited to the following: Corporate Banking, treasury services, Retail & SME Banking, asset management and stockbroking. ABC Holdings Limited is registered in Botswana. During 2014, the ABC Holdings Group was acquired by Atlas Mara. As at 31 December 2014, Atlas Mara had a 98.7% equity stake in ABC Holdings, held directly (60.8%) and indirectly (37.9%). Subsequent to the takeover, ABC Holdings was delisted from the Botswana Stock Exchange (primary listing) on 30 January 2015, and from Zimbabwe Stock Exchange (secondary listing) on 12 February 2015. Atlas Mara is a British Virgin Islands registered company with a standard listing on the London Stock Exchange (“LSE”). CONTENTS 1 Our values and highlights 30 Directors and Group management 2 Five-year fi nancial highlights 35 Directors’ responsibility 3 Salient features statement 5 Group Chairman’s & CEO’s 36 Directors’ report report 39 Annual fi nancial statements 13 Corporate social responsibility report 154 Analysis of shareholders 21 Risk and governance report D ABC HOLDINGS LIMITED ANNUAL REPORT 2014 PAGE PAGE PAGE PAGE PAGE 4 12 20 38 116 VALUE 01 VALUE 02 VALUE 03 VALUE 04 VALUE 05 PEOPLE INTEGRITY PROFESSIONALISM PASSION INNOVATION Our core values centre on five distinct areas.
    [Show full text]
  • Pdf 165.9 KB
    THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. 30 April 2019 Proposed Strategic Transaction with Equity Group Holdings Atlas Mara Limited ("Atlas Mara" or the "Company" and including its subsidiaries, the “Group”), the sub- Saharan African financial services group, announces that it has entered into a binding term sheet with Equity Group Holdings Plc (“EGH”) for the exchange of certain banking assets of the Company in four countries for ordinary shares in EGH (the “Proposed Transaction”). The Proposed Transaction is subject to confirmatory due diligence, definitive transaction documentation, relevant regulatory approvals, and other conditions precedent customary for transactions of this nature. As part of the Proposed Transaction, EGH would acquire for shares in EGH Atlas Mara’s 62% shareholding in Banque Populaire du Rwanda (BPR) and, via the Company’s subsidiary ABC Holdings Limited, all of Atlas Mara’s indirect interests in African Banking Corporation Zambia (BancABC Zambia), African Banking Corporation Tanzania (BancABC Tanzania), and African Banking Corporation Mozambique (BancABC Mozambique). The parties would anticipate mergers of their respective banks within each of Rwanda and Tanzania. The Company expects to receive as consideration approximately 252,482,300 ordinary shares of EGH representing approximately 6.27% of the pro forma share capital of EGH post-closing. This implies the consideration to be paid is the equivalent of approximately USD 105.4 million. The aggregate consideration ultimately payable will be that set out in the definitive agreements negotiated following confirmatory due diligence, and may be subject to adjustment (positive or negative), based on the performance of the banks through consummation of the transactions, and on the net asset value of the banks at the time of closing relative to the net asset value they reported as at 31 December 2018.
    [Show full text]
  • The Largest Trade and Export Finance Event for Sub-Saharan Africa
    The largest trade and export finance event for Sub-Saharan Africa... delivered digitally www.gtreview.com/gtrafrica Post-event media kit #GTRAfrica INTRODUCTION & CONTACTS “The GTR team has really gone to great lengths to make very lovely lemonade with the lemons that COVID-19 has given to all of us this The largest trade and export year. I look forward to attending again in the future.” finance event for Sub-Saharan JM Ndawula, Africa Finance Corporation Africa – delivered digitally Drawing on the high-level expertise, comprehensive market coverage and unrivalled industry connections of GTR’s Africa-focused gatherings in Cape Town, Victoria Falls and London, GTR Africa 2020 Virtual which took place on October 20-23, combining a mixture of live-streamed and pre-recorded content and targeted networking through GTR’s dynamic virtual event platform. Spread over 4 days and combining 3 distinct events into the one extended virtual offering to capture a wider audience, this new format provided the opportunity for more detailed focus on key markets, innovation, trade and commodity flows, infrastructure and the wider implications of global disruption. The event also featured our inaugural Digital Deal Room, a bespoke origination and investment matching platform populated with unique opportunities for investors, held in collaboration with Orbitt. Sponsorship opportunities Speaking opportunities Marketing & media opportunities Peter Gubbins Jeff Ando Elisabeth Spry Join the conversation at #GTRAfrica CEO Director, Content Marketing Manager [email protected]
    [Show full text]
  • Abc Holdings 2005 Annual Report.Pdf
    Introduction 5 Values and Personality 5 Group Financial Highlights 6 Chairman’s Statement 8 Directorate and Management 11 Group Companies Directorate 14 Group Organogram 16 Chief Executive Officer’s Report 19 Capital Adequacy 22 Products and Services 23 Risk and Governance 27 Corporate Social Investment 33 Annual Financial Statements 35 Analysis of Shareholders 75 Notice to Shareholders 76 Form of Proxy 77 1 i im h s a S & i sh u S r/ te at pl lu Zu 2 At African Banking Corporation you can enjoy the full value of world-class banking in Africa. Our teams’ unique local knowledge combined with international know how forms the basis by which we deliver world-class solutions relevant to our clients’ needs and challenges. Harness Africa’s potential through our banking, treasury and investment advisory services. 3 4 la /Pael Luba bowl with figure Introduction ABC Holdings Limited is listed on the Botswana and Zimbabwe Stock exchanges and is the holding company of the African Banking Corporation group of companies which comprise diverse financial services activities in the areas of corporate, international, investment and merchant banking, leasing finance, asset management, stock broking and treasury services. African Banking Corporation aims to deliver world-class financial solutions to the sub-Saharan African region. Despite the adverse conditions in some countries we operate in, the group posted a pleasing set of results with an improvement on all key performance indicators. The African Banking Corporation brand has continued to strengthen and as an institution we have gained recognition from market players and regulators alike. Our strong brand and committed staff have enabled us to weather the volatile conditions and the symbolism of our logo – creative energy, radiance and unity – inspires us to fulfil our vision of delivering world-class financial solutions to our clients and partners in Africa.
    [Show full text]
  • European Investment in Tanzania: How European Investment Contributes to Industrialisation and Development in Tanzania
    EU market study:EU market study 17/10/2016 11:54 Page 1 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Funded by the European Union EU market study:EU market study 17/10/2016 11:54 Page 2 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Funded by the European Commission Written by Ashley Elliot © European Commission, Dar es Salaam, 2016 The content of this publication does not reflect the official opinion of the European Commission. Responsibility for the information and views expressed in the publication lies entirely with the author. "EU" refers to the European Union, and "EU+SN" to the members of the European Union and the Economic Free Trade Area (EFTA), unless otherwise indicated. For further inquiries or clarifications please contact [email protected]. A project implemented by consortium led by POHL CONSULTING & ASSOCIATES GMBH EU market study:EU market study 17/10/2016 11:54 Page 3 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Funded by the European Union EU market study:EU market study 17/10/2016 11:55 Page 4 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Foreword by Ambassador Roeland van de Geer, Head of the Delegation of the European Union to Tanzania and the East African Community As the Government of Tanzania and international partners join forces to lift millions of Tanzanians out of poverty, the role of trade and investment in the fight against poverty is increasingly recognised.
    [Show full text]
  • (ODA) in the Development of Public-Private Partnership Investments in Africa
    The Use of Official Development Assistance (ODA) in the Development of Public-Private Partnership Investments in Africa A Case Study of Zambia Grayson Koyi INSTITUTE OF ECONOMIC AND SOCIAL RESEARCH, UNIVERSITY OF ZAMBIA This publication has been produced with the support of the CSOs Partnership for Development Effectiveness (CPDE). It is authored byGrayson Koyi of the Institute of Economic and Social Research, University of Zambia. This publication is freely available for download at: www.ituc-csi.org/DFI-study Table of Contents 1. INTRODUCTION AND BACKGROUND ............................................................................. 4 1.1 Introduction .............................................................................................................................. 4 1.2 Background: Country Development Context .......................................................................... 6 1.3 Methodology ............................................................................................................................. 9 2. INSTITUTIONAL AND LEGAL FRAMEWORK FOR PPPS IN ZAMBIA .................. 10 2.1 Institutional framework ......................................................................................................... 10 2.2 ODA flows to Zambia ............................................................................................................. 11 2.3 Use of ODA in Development of PPPs: Contrasting Views ................................................... 13 3. THE CASE OF AFRICAN BANKING CORPORATION
    [Show full text]
  • A BC Holdings Limited
    ABC Holdings Limited Audited Group Results for the year ended 31 December 2010 www.bancabc.com Chairman’s statement continued Main heading aBOUT BancaBc ABC Holdings Limited is the parent company of a number of banks operating under the BancABC brand in Sub-Saharan Africa, with operations in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe. A group services office is located in South Africa. Our vision is to be Africa’s preferred banking partner by offering world-class financial solutions. We will realise this by building profitable, lifelong customer relationships through the provision of a wide range of innovative financial products and services – to the benefit of all our stakeholders. The Group offers a diverse range of services, including but not limited to the following: wealth management, corporate banking, treasury services, leasing, asset management, stock broking, and retail banking. ABC Holdings Limited is registered in Botswana. Its primary listing is on the Botswana Stock Exchange, with a secondary listing on the Zimbabwe Stock Exchange. OUR VaLUeS Our core values, the result of broad stake­ holder consul tation, centre on five distinct areas. They remain the guiding principles by which we operate and form the basis of our corporate personality. WheRe We OPeRaTe SaLienT POinTS Financial: Total income increased by 39% to BWP546 million. Operating expenses increased by 19% to BWP435 million. Operating profit increased by 327% to BWP111 million. Cost to income ratio improved to 77% from 82% in the prior year. Impairment charges on loans and advances reduced by 69% to BWP16 million. Basic earnings per share improved by 15% from 40.4 thebe to 46.3 thebe.
    [Show full text]
  • ABC Holdings Limited Annual Report 2009
    Contents Five-year financial highlights 2 Salient features 3 Chairman’s statement 4 Chief Executive Officer’s report 9 Corporate social responsibility report 17 Risk and governance report 19 Directors and Group management 24 Directors’ responsibility 27 ABC Holdings Limited Directors’ report 28 Annual financial statements 29 Annual Report 2009 ABC Holdings Limited Annual Report 2009 www.bancabc.com About BancABC ABC Holdings Limited is the parent company of a number Historically, BancABC was a merchant bank offering a diverse Contact information Contents of banks operating under the BancABC brand in Sub-Saharan range of services including but not limited to the following: Africa, with operations in Botswana, Mozambique, Tanzania, wealth management, corporate banking, treasury services, Botswana South Africa Five-year financial highlights 2 Zambia and Zimbabwe. A group services office is located in leasing, asset management, and stock broking. ABC Holdings Limited ABC South Africa Salient features 3 South Africa. Directors: OM Chidawu, DT Munatsi, B Moyo, F Dzanya ABC Holdings Limited is registered in Botswana. Its primary Directors: Oliver M Chidawu, Doreen Khama, Chairman’s statement 4 Our vision is to be Africa’s preferred banking partner by listing is on the Botswana Stock Exchange, with a secondary Ngoni Kudenga, Howard J Buttery, Johannes Wasmus, 205 Rivonia Road, Morningside, 2196, Chief Executive Officer’s report 9 offering world class financial solutions. We will realise this listing on the Zimbabwe Stock Exchange. Tshipa S Mothibatsela, Douglas T Munatsi Johannesburg, South Africa by building profitable, lifelong customer relationships through ABC House, Tholo Office Park, Plot 50669, Tel: +27 (11) 7225300 Fax: +27 (11) 7225360 Corporate social responsibility report 17 [email protected] the provision of a wide range of innovative financial products Fairground Office Park, Gaborone, Botswana Risk and governance report 19 and services – to the benefit of all our stakeholders.
    [Show full text]
  • Financial Routing System Delivered in Just 5 Weeks for International Bank
    Financial Routing System Delivered in Just 5 Weeks for International Bank Challenge In order to increase and maintain a high level of rules to route each transaction correctly. Using the customer satisfaction and customer value, BancABC visual modeling capabilities of the Mendix platform, desired an application that would improve the the banks proprietary business rules and decision banking experience for their customers. For this logic was implemented in only three weeks by a reason, the bank chose to give its customers the small team of two business engineers. ability to view real-time account balance updates for both pre-paid and credit card financial services. A dashboard has been provided to monitor cross- system transaction performance and maintain full To enable this integrated account access disparate process control. Support personnel can login, banking systems had to be integrated. It was critical monitor and review successful and problematic that all data routed between the banking systems transactions, as well as monitor and mitigate was securely encrypted. Intermediary systems potential bottle necks. could not store any encrypted data and only act as a message conduit, tracking, and performance Mendix includes an alerting and notification management solution between their existing process for the event of message delivery failure systems. or system unavailability. It automatically alerts responsible parties through SMS and email notifications when critical system failures occur, and Solution when preconfigured failure thresholds have been reached. These failure thresholds are determined The Mendix platform was chosen to build an by BancABC and are easily configured within the application to facilitate, manage and monitor the application.
    [Show full text]
  • Abc Stockbrokers Limited
    ABC STOCKBROKERS LIMITED CAPABILITY STATEMENT Contents • The Group • About ABC stockbrokers • services • Credentials • Core Leadership • Technical Team • Contact details 2 The Group The group was formed as a result of a series of mergers and acquisitions of financial institutions operating in South Central Africa. • 1997 • 2010 • Merger between • Rebranding FMB and Heritage to effect new trading Group • 1999-2001. name BancABC FMB+ ULC+ African FMB + HIB HIB+ UDC+ Banking BancABC Part of Atlamara HIB: BARD: BARD: Corporation • 1995 • 2014 • Heritage • 1998 • 2001 Investment Bank • Heritage group • The result of •Atlasmara was formed acquired 100% all mergers takes acquire of BARD Group and 98% of • Specialist BancABC merchant Bank. acquisitions The Group Continued… The Group before the takeover by Atlasmara Group had a primary listing on the Botswana Stock Exchange and a secondary listing on the Zimbabwe Stock Exchange. The Atlasmara Group has operations in Botswana, Mozambique, Rwanda, Tanzania, Zambia and Zimbabwe, with a representative office in South Africa. Pan African Institution RWANDA About ABC Stockbrokers ABC Stockbrokers (Pvt) Ltd is a securities Company domiciled in Zimbabwe. The Company was established in 1997 when it started off as a joint venture between brokers and the BARD Group of Companies which at the time had 100% Control of one of the oldest discount house in Zimbabwe In 2000 the Company changed its name to ABC Stockbrokers (Pvt) Limited following a buyout of Bard Discount House by Heritage Bank in a Merger that saw three strong financial houses coming together to form African Banking Corporation (ABC) ABC immediately assumed a span of over 40 years wealth of experience in the financial industry of Zimbabwe at its formation.
    [Show full text]
  • And Access Bank
    Atlas Mara Limited, ABC Holdings Limited and Access Bank Plc sign share purchase agreement for the acquisition of 78.15% stake in African Banking Corporation of Botswana Limited Complementary transaction that combines Access Bank’s wholesale finance capabilities with BancABC Botswana’s strong retail banking operations Gaborone 19 April 2021 – Atlas Mara Limited (“Atlas Mara”), ABC Holdings Limited (“ABCH”) and Access Bank Plc (“Access Bank”) announced that they have entered into a definitive agreement regarding a proposed acquisition of 78.15% of the issued share capital of African Banking Corporation of Botswana Limited (“BancABC Botswana”) by Access Bank. The transaction is expected to conclude in the first half of 2021, subject to the fulfillment of various customary conditions precedent including certain regulatory requirements by the Bank of Botswana and consents from other relevant authorities and certain counterparties. Key highlights include: A complementary transaction that combines BancABC Botswana’s strong retail banking operation with Access Bank’s wholesale banking capabilities, providing significant scope for revenue diversification and growth in the corporate and SME banking segment. BancABC Botswana’s customers to benefit from best-in-class digital platforms and product suites, leveraging Access Bank’s group IT infrastructure. Commenting on the transaction, BancABC Botswana Managing Director Mr. Kgotso Bannalotlhe, said: “We are delighted to have Access Bank on board as a shareholder and strategic partner as we continue to execute on our medium-term growth objectives. This transaction represents an opportunity for BancABC Botswana to be part of one of the largest banking groups in Africa and benefit from Access Bank’s strong corporate banking franchise, digital banking capabilities, and innovative product offering, as well as trade finance and international banking that leverage Access Bank’s footprint across Southern Africa and the SSA region more broadly.
    [Show full text]
  • Download This PDF File
    Financial Development and Private Sector Investment in the Post-Financial Liberalization Era in Tanzania Francis LWESYA1, Ismail J. ISMAIL2 1 University of Dodoma, PO. BOX 1208, Dodoma, TZ; [email protected] (corresponding author) 2 University of Dodoma, PO. BOX 1208, Dodoma, TZ; [email protected] Abstract: This paper examines the relationship between financial development and private sector investment in the post-financial sector liberalization episode in Tanzania. The proxies for financial development were the financial market depth index and financial institutions depth index. Applying Autoregressive Distributed Lag (ARDL) technique, the results show the nexus between financial development and private sector investment in Tanzania. We find that the financial market depth index has a positive and significant impact on private sector investment in the long run but not in the short run. This is linked to the underdevelopment of capital markets in Tanzania at present. Similarly, we find that the financial institution depth index positively and significantly impacts private sector investment in both the long and short run. The degree of openness of the economy recorded a positive and significant impact on private investment in both periods suggesting that it has played a critical role in the financial development and growth of the private sector in Tanzania. In contrast, we observe that the real exchange rate has recorded a negative and significant impact on private investment in the long and short run. This suggests that appreciation of the real exchange rate had a negative impact on private investment. We recommend increasing financial openness and reinforcing the financial regulatory reforms to widen and deepen the financial system that can effectively support the mobilization of short, medium, and long-term finance for private sector investment.
    [Show full text]