Access Bank to acquire a majority stake in Afrasia Bank from IBL and National Bank of Canada for $430m.

Access Bank, a commercial bank, agreed to acquire a majority stake in Afrasia Bank, a Mauritian bank, from banks IBL and National Bank of Canada, for $430m. “This acquisition marks a pivotal moment in our African growth strategy, reinforcing our position as a leading Pan-African financial institution. Mauritius offers immense potential as an international financial hub, and through Afrasia Bank, we are excited to unlock new opportunities to drive trade, support businesses, and foster economic inclusion across the region as we continue our mission to be the World’s Most Respected African Bank," Roosevelt Ogbonna, Access Bank Managing Director and CEO.