Aiming to become an integrated Pan-African Banking Group

Atlantic Financial Group (AFG), based in Côte d’Ivoire, has acquired the microfinance operations of five Access Group subsidiaries, including Access Bank Madagascar.

Negotiations have been ongoing for four years, culminating in a major transaction that has been in preparation since 2020. Last week, Atlantic Financial Group (AFG Holding) announced the signing of an agreement for the acquisition of a majority stake in Access Holding (based in Germany) and all its African subsidiaries, according to a company press release.

Access Bank branches are located in five African countries, including Liberia, Nigeria, Zambia, Rwanda, and Madagascar. According to Léon Konan Koffi, Chairman of AFG Holding’s Board of Directors, this acquisition reinforces the Ivorian group’s presence on the continent and marks an expansion of its activities. The completion of this acquisition is a significant step toward the group’s goal of becoming an integrated pan-African banking entity, offering cutting-edge financial services fully online. This partnership will also pave the way for broader financial inclusion.

By acquiring a major player in African microfinance, AFG is now positioned to make a full contribution to financial inclusion across its host countries, offering a comprehensive range of financing services.