The Financial Markets in Zambia have experienced mergers and acquisitions in the recent past years. In February 2021, the management of Access Bank Plc made a statement that the Zambian subsidiary had completed the acquisition of Cavmont Bank Limited upon acquisition the fulfillment of key conditions, including regulatory approvals. Access management projected the merger as a strong and well-capitalized banking franchise that will scale and improve capacity to deliver sustainable and best-in-class financial services in the Zambian market. Access Bank plc, commonly known as Access Bank, is a Nigerian multinational commercial bank, owned by Access Bank Group. Another merger took place in 2016 as reported in the Times of Zambia. ATLAS Mara Limited acquired Finance Bank Zambia (FBZ), to merge with Banc ABC Zambia and create one of the largest banks in the country. The merger was completed on June 30, 2016. The Managing Director, Mr Benjamin Vitalo, affirmed the merger objective “The acquisition of FBZ is another important step in the execution of Atlas Mara’s strategy to build sub-Saharan Africa’s premier financial institution, in part, by becoming a scale participant in our countries of operation, which this transaction will achieve for us in Zambia.” Atlas Mara Limited is a financial services holding company formed to undertake the acquisition of target banks in Africa. The group exists in a number of African countries including Botswana, Mozambique, Rwanda, South Africa, Tanzania , Zambia to mention but a few. Required: A. The holding banks in both mergers are foreign Financial Institutions; Access Bank plc is a Nigerian multinational commercial bank, owned by Access Bank Group and Atlas Mara Limited is a financial services holding company formed to undertake the acquisition of target banks in Africa with headquarters located in Tortola, British Virgin Islands. Assuming you are Managing Director at any of the two merged banks, advice the Board on the 4 types of domestic financial markets and 4 types of foreign financial markets in which the merged banks can conduct operations. [Hint; Give specific geographical foreign financial markets based on the case study]. B. Advice the board the financial instruments that the bank can offer in the 8 markets stated in (A).
The Financial Markets in Zambia have experienced mergers and acquisitions in the recent past years. In February 2021, the management of Access Bank Plc made a statement that the Zambian subsidiary had completed the acquisition of Cavmont Bank Limited upon acquisition the fulfillment of key conditions, including regulatory approvals. Access management projected the merger as a strong and well-capitalized banking franchise that will scale and improve capacity to deliver sustainable and best-in-class financial services in the Zambian market. Access Bank plc, commonly known as Access Bank, is a Nigerian multinational commercial bank, owned by Access Bank Group.
Another merger took place in 2016 as reported in the Times of Zambia. ATLAS Mara Limited acquired Finance Bank Zambia (FBZ), to merge with Banc ABC Zambia and create one of the largest banks in the country. The merger was completed on June 30, 2016.
The Managing Director, Mr Benjamin Vitalo, affirmed the merger objective “The acquisition of FBZ is another important step in the execution of Atlas Mara’s strategy to build sub-Saharan Africa’s premier financial institution, in part, by becoming a scale participant in our countries of operation, which this transaction will achieve for us in
Zambia.”
Atlas Mara Limited is a financial services holding company formed to undertake the acquisition of target banks in Africa. The group exists in a number of African countries including Botswana, Mozambique, Rwanda, South Africa, Tanzania , Zambia to mention but a few.
Required:
A. The holding banks in both mergers are foreign Financial Institutions; Access Bank
plc is a Nigerian multinational commercial bank, owned by Access Bank Group and
Atlas Mara Limited is a financial services holding company formed to undertake the
acquisition of target banks in Africa with headquarters located in Tortola, British
Virgin Islands.
Assuming you are Managing Director at any of the two merged banks, advice the
Board on the 4 types of domestic financial markets and 4 types of foreign financial
markets in which the merged banks can conduct operations. [Hint; Give specific
geographical foreign financial markets based on the case study].
B. Advice the board the financial instruments that the bank can offer in the 8 markets
stated in (A).
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