Fairfax dismembers BancABC parent

KENYA'S leading bank in terms of market capitalisation and customer numbers Equity Group has announced that it has entered into an agreement with Pan-Africa-focused banking group Atlas Mara to acquire...

By Staff reporter | Published: 02 May 2019


BancABC doubles profits on increased lending

BANCABC'S after tax profit increased more than two-fold to US$10,8 from US$5,2 million in the full year ended December 31, 2018, driven by growth in net interest income as the bank upped its lending.I...

By Staff reporter | Published: 24 April 2019


Interest-bearing activities boost BancAbc revenues

BancABC, the local unit of African Banking Corporation, is among the top banks that are generating the bulk of their revenue from interest-bearing activities, a survey of financial institutions operat...

By Staff reporter | Published: 27 July 2018


BancABC parent ups stake in Nigerian bank

BANCABC parent, Atlas Mara, has increased its stake in a Nigerian bank to 49%, as it seeks to cement its foothold in Africa's largest economy.In a notice on Tuesday, Atlas Mara said it has agreed to a...

By Staff reporter | Published: 28 June 2018


BancABC reports over $50m in deposit capture

Atlas Mara Zimbabwean unit, BancABC, has reported more than $50 million in deposit capture in the southern African country for the year ended December 31, 2017 on the back of a strong agency banking p...

By Staff reporter | Published: 26 April 2018


BancABC's sweet $16m deal

BANCABC has set aside $16 million for the 2017 /2018 sugarcane production season in the Lowveld, as the financial services group consolidates its presence in this previously under-serviced but critica...

By Staff reporter | Published: 14 September 2017


BancABC conduit for dodgy funds

BancABC, which has subsidiaries in Botswana, Mozambique, Zambia and Tanzania, was one of the major conduits for dodgy diamond funds flowing internally and across borders, the Zimbabwe Independent has ...

By Staff reporter | Published: 08 September 2017


BancABC unveils new initiatives

LOCAL bank BancABC has unveiled a cocktail of initiatives including extending tailor-made bid bonds to contractors in Zimbabwe as part of efforts to promote infrastructure projects in the country and ...

By Staff reporter | Published: 04 September 2017


BancABC Zimbabwe's 1HFY17 profits rise to $3.2m

BancABC Zim posted a significant rise in profit after tax to $3, 2 million for the first half of this year from $200 000 in the prior comparable period.The profit bump was on the back of cost-containm...

By Staff reporter | Published: 30 August 2017


BancABC reshuffles executives

PAN-African banking group,BancABC, has gone on a restructuring exercise that will see Hashmon Matemera returning to group level after a four-year stint as managing director for the Zimbabwean unit.Mat...

By Staff reporter | Published: 09 July 2014


ABC set to benefit from fundraising

Listed financial institution ABC Holdings is set to benefit from the second fundraising done by soon-to-be major shareholders Atlas Mara. The Atlas Mara group is said to have raised in excess of $300 ...

By Staff reporter | Published: 24 June 2014


Atlas Mara lining more investment in Zimbabwe?

Could Atlas Mara Co-Nvest Limited be lining up more investments in Zimbabwe? Well, it certainly is for Africa.Bob Diamond and Ashish Thakkar's Atlas Mara yesterday announced that would raise about $40...

By Staff reporter | Published: 14 May 2014


BancABC shareholders to waiver employee share sale restriction

BancABC shareholders will convene early next month seeking approval to waiver a one-year restriction on the sale of employee shares that had been granted under an earlier scheme. The move will facilit...

By Staff reporter | Published: 13 May 2014


Premier Diamonds gets High Court reprieve

Local firm, Premier Diamonds got a reprieve last week after the High Court granted an order staying the execution of an order compelling it to settle a $4.6 million loan advanced by BancABC to finance...

By Staff reporter | Published: 15 April 2014


ABC avails $25m facility for agriculture

ABC Holdings Limited has signed an agreement with the Africa Agriculture and Trade Investment Fund (AATIF) that has resulted in a $25 million funded risk sharing facility becoming available to agricul...

By Staff reporter | Published: 08 April 2014


Atlas Mara takes over BancABC, will immediately inject $100m

ABC Holdings (BancABC) expect $100 million equity capital injection from Atlas Mara soon after the deal is concluded with the transaction expected to transform the Pan African banking group, CEO Doug ...

By Staff reporter | Published: 02 April 2014


BancABC to raise fresh capital for subsidiaries

African Banking Corporation will be focusing on raising capital for its various subsidiaries and improve loan book management, group CE Doug Munatsi told an analyst briefing yesterday."We are actively...

By Staff reporter | Published: 27 March 2014


BancABC Zimbabwe profits up 14%

BancABC Zimbabwe contributed to the group's profitability in the year to December 31, 2013 despite liquidity challenges in the operating environment.BancABC Zimbabwe was one of the three country divis...

By Staff reporter | Published: 25 March 2014


Slow up-take of ABC shares

THERE has been slow up-take of the US60c mandatory offer share price ADC Mauritius made to ABC Holdings minorities when the former increased its stake above the threshold exempt from the compulsory of...

By Staff reporter | Published: 16 January 2014


ABC minority shareholders rejects ADC offer

ABC Holdings directors are part of minority shareholders that have made irrevocable undertakings that they will not accept the buyout offer by majority shareholder ADC Financial Services. ADC, a cont...

By Business Reporter | Published: 16 December 2013


ADC launches mandatory offer for BancABC shares

African Development Corporation (ADC) has launched a mandatory offer for all outstanding BancABC shares.ADC announced its firm intention to make a mandatory offer to all minority shareholders of its m...

By Staff reporter | Published: 13 December 2013


ABC Holdings to evaluate share price

ABC Holdings' board has appointed a sub-committee of independent directors to oversee evaluation of the business in order to appropriately advise minority shareholders to sell or keep their shares.The...

By Business reporter | Published: 19 August 2013

BancABC share unmoved by bank's performance

DESPITE reporting strong interims for the period ending June 30 and bright future prospects, ABC Holdings' performance has not been reflected by the company's shares, analysts have said.Analysts who s...

By Business reporter | Published: 14 August 2013


BancABC optimistic about performance

AFRICAN Banking Corporation Group says its interims for six months to June this year will be solid despite a US$10 million impairment in respect of a contingent liability."Shareholders are advised th...

By Business reporter | Published: 08 August 2013


African Development Corporation initiates BancABC takeover offer

African Development Corporation announced that the management and the Supervisory Board resolved to engage in pooling agreements with aligned investors in ABC Holdings Limited, Botswana (BancABC) and...

By Business reporter | Published: 10 June 2013

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