The Central Bank of Angola, Banco Nacional de Angola, has approved Access Bank’s plan to acquire the majority equity stake in the country’s lender, Finibanco Angola S.A.
Banco Nacional de Angola’s approval followed that of the Central Bank of Nigeria (CBN). Access Bank now awaits the approval of the Angolan Competition Authority to seal the deal.
According to Access Holdings, the parent company of Access Bank, the minority shareholders of Finibanco Angola S.A have agreed to sell their shares, which are 80 per cent of the Angolan commercial bank.
