Access Bank Plc has entered into a binding agreement with Montepio Holding SGPS S.A (Montepio) to acquire a 51 percent majority shareholding in Finibanco Angola S.A. has been described as a plus.
There are indications that such partnership will enhance the bank’s strategy to be Africa’s payment gateway to the world whilst working with other Africa-focused multilaterals to provide robust and efficient payment platforms and ecosystems to serve the continent.
Finibanco Angola S.A, is a profitable, well-capitalised full-service commercial bank, with over 20 branches and around $300 million in total assets that has operated in Angola since 2008.
The transaction furthers the bank’s strategy to be Africa’s payment gateway to the world whilst working with other Africa-focused multilaterals to provide robust and efficient payment platforms and ecosystems to serve the continent.
The bank is expected to increase its shareholding in Finibanco S.A and has reached certain conditional agreements in this regard.