CAMEROON’S AFRILAND BUYS ACCESS BANK SUBSIDIARY
Cameroon’s Afriland First Bank Group has bought the subsidiary of Access bank Plc in Ivory Coast. The new owners paid the sum of 1 million dollars to complete the transaction. Access Bank has experienced a remarkable success in Nigeria but it was said to have struggled for survival in Ivory Coast; a development that made it imperative for the sale.
Afriland founded in 1987, began branching out from its flagship bank in Cameroon in 1994 and now operates subsidiaries in Equatorial Guinea, Sao Tome and Principe, Democratic Republic of Congo, Liberia, Zambia, South Sudan and Guinea.