Access Bank PLC has successfully met all legal and regulatory requirements to finalize the acquisition of African Banking Corporation (Tanzania) Limited (BancABC Tanzania). Following this, the bank will now operate as Access Bank Tanzania Limited.

According to Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, this achievement builds upon Access Bank's recent acquisition of the consumer, private, and business banking operations of Standard Chartered Bank Tanzania.

“This milestone represents a crucial step in our East African growth strategy and reinforces our commitment to Tanzania's economic development," Kumapayi said. "By integrating BancABC Tanzania into the Access Bank Group, we will enhance our ability to offer diverse and innovative financial solutions that cater to the evolving needs of our customers. We aim to facilitate greater inter- and intra-African trade while empowering local communities, especially women and youth, by improving access to banking services and financial opportunities.”

Managing Director of Access Bank Tanzania, John Imani expressed his excitement: “We are thrilled to officially become part of the Access Bank family. This marks a new era for our operations as we unite the strengths of both institutions to create a stronger and more competitive bank. Our shared commitment to delivering excellent service and driving financial inclusion will guide us as we integrate and expand in Tanzania.”

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