Access Bank expands frontier, to acquire South African bank, Bidvest

Nigeria’s Access Bank Plc is poised to expand its frontiers by offering to acquire South African Bidvest Bank Holdings Limited.

According to a statement by the bank, a unit of Access Holdings Plc, it noted that the acquisition supports its ambition to expand across Africa and solidify its presence in key markets, with South Africa being a top priority.

Although the value of the transaction was not disclosed, a Bloomberg report put it at about 2.8 billion rand or roughly $159 million.

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