Nigeria’s Access Bank invested $60 mln for stake in South Africa’s Grobank -CEO

PUBLISHED: Tue, 30 Mar 2021 11:28:51 GMT

ABUJA, March 30 (Reuters) – Nigeria’s biggest lender Access Bank has invested around $60 million to acquire a stake in South Africa’s Grobank, its chief executive said on Tuesday.

Access invested both equity and debt in the South African bank, part of a regional expansion to tap into correspondent and trade banking deals on the continent, Herbert Wigwe told CNBC Africa Television. (Reporting by Chijioke Ohuocha; Editing by Kirsten Donovan)

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