ACCESS Bank has successfully fulfilled all legal and regulatory requirements to complete its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania).

With the acquisition now finalised, the entity will operate under the name Access Bank Tanzania Limited, further consolidating Access Bank’s presence in the East African region.

This milestone builds on Access Bank’s recent acquisition of the consumer, private, and business banking operations of Standard Chartered Bank Tanzania.

Seyi Kumapayi, Executive Director of African Subsidiaries at Access Bank said the newly formed Access Bank Tanzania will leverage its inherent strengths and those of its parent company to offer a comprehensive suite of financial solutions aimed at fostering economic growth in Tanzania.

“This milestone is a crucial step in our East African growth strategy, reinforcing our commitment to Tanzania’s economic development.”

He added: “By integrating BancABC Tanzania into the Access Bank Group, we will enhance our ability to provide diverse and innovative financial solutions that meet the evolving needs of our customers. Our goal is to facilitate greater inter- and intra-African trade while empowering local communities, particularly women and youth, through improved access to banking services and financial opportunities.”

John Imani, Access Bank Tanzania Managing Director said: “This marks a new era for the bank’s operation as itwe combines the strengths of both institutions to create a stronger and more competitive bank that serves the needs of our customers. Our shared commitment to delivering excellent service and driving financial inclusion will guide us as we integrate and grow in Tanzania.”

With the acquisition complete, customers of Access Bank Tanzania will benefit from banking with an institution that boasts a world-class payments gateway and is supported by a dynamic ecosystem of local and international partnerships.

Access Bank’s international expansion and its enhanced presence in key trading corridors across Africa enable it to effectively bridge the gap between cross-border and domestic transfers, catering to all business segments while efficiently managing global payments and remittances.

Access Bank is committed to making a lasting positive impact on the communities it serves. The bank brings its proven track record of enhancing communities and preserving the environment from its operations across various countries to Tanzania, ensuring that its growth supports not only economic progress but also environmental sustainability and community development.

Through the efforts, Access Bank Tanzania aims to contribute to a more sustainable future for the nation.