Equity Bank to buy Tanzanian bank

Equity Bank to buy Tanzanian bank

kennedy0000

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Kenya's Equity Bank continues to do great things.

Equity Group Holdings has entered into a preliminary agreement to buy out banking units in Zambia, Mozambique, Tanzania and Rwanda that are owned by a London Stock Exchange-listed firm.

The proposed share swap deal Atlas Mara Limited (ATMA), whose value estimated at Sh10.7 billion, puts back on track Equity’s ambitious pan-Africa expansion strategy which it had put on hold in 2016.

Group chief executive James Mwangi said on Tuesday the advanced talks will see Equity buy out ATMA-owned African Banking Corporation’s (ABC) operations in Tanzania, Zambia and Mozambique as majority stake in Banque Populaire du Rwanda (BPR).


https://www.businessdailyafrica.com...h10bn-deal/4003102-5094148-7tdxy5z/index.html
 
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