Business
Access Bank Acquires Zambian African Banking Corporation
Access Holdings Plc has announced that it has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of Access Bank Zambia Limited, and African Banking Corporation Zambia Limited into its existing operations. Access Bank Zambia Limited is a subsidiary of Access Bank Plc.
The bank disclosed this in a statement at the weekend, signed by its Company Secretary, Sunday Ekwochi.
It stated: “Further to its announcement on October 25, 2021, Access Holdings Plc (Access Holdings) is pleased to announce that Access Bank Zambia Limited (Access Zambia), a subsidiary of its flagship subsidiary, Access Bank Plc, has received final regulatory approval from the Central Bank of Zambia for the acquisition and merger of African Banking Corporation Zambia Limited (Atlas Mara Zambia) into its existing operations.
“The Central Bank of Nigeria and Common Market for Eastern and Southern Africa Competition Commission had earlier granted their “no objection” to the Transaction in 2022. Access Zambia will now move towards integrating and merging Atlas Mara Zambia into its operations, which is expected to create one of the top five banks in Zambia.”
Commenting on the transaction, Group Chief Executive Access Holdings, Dr. Herbert Wigwe, said: “The transaction builds on our earlier acquisition and merger of Cavmont Bank Plc into Access Bank Zambia and underscores our resolve to strengthen our presence in Zambia, a key African market that fits into our strategic focus on geographic earnings growth and diversification.
“The combination of the two banks will create significant synergies between Access Zambia’s world class wholesale and transaction banking capabilities and Atlas Mara Zambia’s market leading retail and public sector capabilities to form a market leading universal banking platform that will greatly impact the Zambia market.”
MAGGI Chicken flavour seasoning cubes have been relaunched with a refreshing blend of spices including onion, turmeric and celery and a boosted Chicken flavour to delight even more Nigerian consumers. It is also now available in double-cubes for double the convenience which also translates into reduced packaging materials. This milestone marks a win for consumers and for the planet as Nestlé works towards a waste-free future.
The announcement was made on the sidelines of MAGGI Creators Conference, a new platform to connect the brand with food enthusiasts, chefs and food content creators. The event, organized in partnership with TikTok, was an opportunity for experts to share their knowledge and collaborate on innovative digital food storytelling to UNVEIL the double goodness of the all-new MAGGI Chicken flavour seasoning cubes.
Wassim Elhusseini, Chief Executive Officer of Nestlé Nigeria, commented: “We are excited to announce the relaunch of MAGGI Chicken Flavour Seasoning Cubes to bring an enhanced culinary experience to Nigerian consumers. With the double cube format, we are on a journey to reduce packaging used in our production process by 25%. This approach is part of Nestlé’s ongoing efforts to protect our planet. We remain committed to growing our business in Nigeria sustainably.”
Rahamatou Palm Zakari-Adamou, MAGGI Category Manager at Nestlé Nigeria, added: “We are dedicated to providing seasoning cubes that enhance mealtimes for millions of Nigerian families. MAGGI has been a part of Nigerian cuisine for decades and is committed to always deliver delicious taste and aroma as well as remain a trusted ally to the Cooks.
Nestlé leverages insights and feedback from consumers to develop products adapted to local preferences and cooking styles.
MAGGI seasoning cubes are sold all over Nigeria.
As part of its commitment to sustainable finance and taking active steps towards reducing its carbon footprint, FirstBank has joined the Partnership for Carbon Accounting Financials (PCAF) to promote sustainable finance, combat climate change and advance sustainable socioeconomic development for the just transition.
PCAF is a collaboration between financial institutions worldwide to enable harmonised assessments and disclosures of greenhouse gas (GHG) emissions from loans and investments. With more than 530 financial institutions from six continents, the group is rapidly expanding in North America, Latin America, Europe, Africa and Asia-Pacific.
Joining PCAF aligns with FirstBank’s broader climate agenda, reinforcing its efforts to contribute meaningfully to global climate goals. By adopting PCAF’s globally recognised standards, FirstBank aims to enhance transparency in carbon accounting and reporting, integrate climate risk into its lending and investment decision-making, and support Nigeria’s transition to a low-carbon economy. This initiative complements FirstBank’s ongoing work on environmental, social, and governance (ESG) issues, underscoring its dedication to responsible banking practices.
PCAF will provide FirstBank with a standardised methodology and framework to measure and report the Bank’s GHG emissions and climate-related risks. By joining PCAF, the Bank’s capability in understanding and managing its exposure to climate risks and liabilities (physical and transition risks) will be enhanced. This will enable the Bank to make informed decisions and take proactive measures to mitigate these risks while leveraging on the opportunities for growth.
Dylan Hauser, regional lead For PCAF Africa said “We congratulate FirstBank on becoming a signatory of PCAF. We are absolutely delighted to have FirstBank on board sharing our commitment to driving positive change and reducing carbon footprints in the region through transparent and accountable practices.”
FirstBank, “Joining PCAF is a significant milestone in our sustainability journey. It is not only a demonstration of our commitment to combatting climate change but also a step towards ensuring that we, as a financial institution, are accountable for the carbon emissions our activities finance. We are excited to collaborate with other global institutions in driving meaningful climate action”.
By joining forces with PCAF, FirstBank is poised to champion transparency and accountability in impact of the financial sector’s activities on climate change.
The Lemon Friday Promo is Adron Homes and Properties’ most exciting and anticipated annual sales event! Every year, Adron Homes brings unbeatable deals and extraordinary benefits for people looking to invest in real estate. This year’s Lemon Friday Promo promises even bigger discounts, exclusive prizes, and unique opportunities to own land or property in premium locations. Here’s everything you need to know about the promo:
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