• September 27th, 2020
Login / Register

Capricorn Group updates shareholders on proposed Zambian merger



Last week Thursday, Capricorn Group has informed its shareholders through a voluntary announcement on the Namibian Stock Exchange that its Zambian subsidiary, Cavmont Capital Holdings Zambia PLC (CCHZ), has signed a Share Purchase Agreement with Access Bank (Zambia) Limited, a subsidiary of Access Bank Plc. The agreement is for the proposed merger of Access Bank (Zambia) Limited and Cavmont Bank Limited. Capricorn Group owns 98.3% of CCHZ, which in turn owns 100% of the share capital of Cavmont Bank. 

Under the terms of the Share Purchase Agreement, Access Bank Zambia will acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank. The transaction is expected to be completed during quarter four of 2020 and is subject to regulatory approvals from Zambian regulators, local and regional competition authorities and approval from the CCHZ shareholders. On completion, Cavmont Bank will become part of Access Bank Zambia and operate under the Access Bank brand.

Thinus Prinsloo, Group CEO of Capricorn Group, said: “Access Bank Plc is an African banking group with an impressive growth trajectory and geographic reach across Africa and internationally. It is an excellent strategic fit with Cavmont Bank’s presence in Zambia and will strengthen the capital base from which to achieve long-term sustainable growth. 
Zambia is an African economy with significant economic potential that is poised for a robust recovery, and this combination best positions the combined bank to capture these opportunities.”


Staff Reporter
2020-08-10 11:23:44 1 months ago

2 Comments

  1. User
    Gina Santos

    Believe me or not Herbal Medication will remain the only best way to get rid of many disease and virus that said to have no cure, i had herpes virus and my Dad was diagnosed of diabetes for 9 years, I never gave up in doing research on how to get my self cure of genital herpes because it was really terrible for me that i cry when ever i think about my past herpes life, The good news was when i accidentally came across a blog on you tube about Dr Uromi  (A NATURAL HERBALIST) on how he has been curing many disease and virus with his herbal remedies that are natural liquid herbs, i immediately copied out his contact mail (Druromiherbalhome@gmail.com ) and ordered his herbs for both me and my dad, to my greatest surprise ever Dr Uromi  got me and my Father CURED in the space of 14 Days after using his herbs for three complete weeks and my dad blood sugar was normal 4.0 to 5.4 mmol/L (72 to 99 mg/dL) Once again all thanks to Dr Uromi for curing and restoring health back to my family, Till date Dr Uromi and my dad are best of friends for curing him, to whom it may concern should kindly mail him too on ( Druromiherbalhome@gmail.com ) or WHATSAPP +2349021374574    

  2. User
    Monika Love

    I was suffering from Herpes, i suffered until i meet Dr Oliha the great Traditional healer who cured me. you can visit his website for more information. you can also add him on whats-app +2349038382931  or email him on oliha.miraclemedicine@gmail.com   Facebook page https://www.facebook.com/drolihamiraclemedicine/   or 1. or website is https://olihamiraclemedicine.webs.com/