Access Bank UK will acquire a majority stake in Afrasia Bank, the fourth largest bank in Mauritius by total assets.
This will allow Access Bank UK to expand its banking services in Mauritius. They plan to position Mauritius as a strategic hub for regional connectivity, thus accelerating transactions between Africa and global markets.
Afrasia Bank has assets exceeding $5.7 billion, and through this investment, Access Bank UK is demonstrating the importance it places on this plan.
Furthermore, Access Bank previously acquired the National Bank of Kenya for $100 million and also purchased the African Banking Corporation in Tanzania. They have also added ARM Pensions and Megatech Insurance Brokers Ltd. to their portfolio.
Access Bank CEO Roosevelt Ogbonna shared his enthusiasm about the Afrasia Bank venture:
“Mauritius offers immense potential as an international financial hub, and through Afrasia Bank, we are excited to unlock new opportunities to drive trade, support businesses, and foster economic inclusion across the region as we continue our mission to be the World’s Most Respected African Bank.”
