National Bank to acquire Tanzanian bank

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The National Bank of Malawi (NBM) Plc is disclosing that talks are on-going on the possible acquisition of a controlling stake in Akiba Commercial Bank of Tanzania.

In a statement, NBM secretary Zunzo Mitole is urging shareholders to exercise caution when dealing with their shares as results of the negotiations are still not known and may affect share price.

Recently, My Bucks Banking Corporation acquired a 100 percent stake of Nedbank Malawi.

In 2017, FMB Capital Holdings Plc also acquired a majority stake in Barclays Bank of Zimbabwe Limited while in 2019 it acquired Bank of India Botswana Limited.

 

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