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26 Jul. 2023


In reference to the communique dated 29 December 2022, AfrAsia Bank Limited (“the Bank”) wishes to inform its shareholders and the public in general that the transaction pertaining to the proposed acquisition by AFG Holding SA of a 74.48% majority stake, in the share capital of the Bank, which was subject to the satisfactory completion of conditions precedent, has not materialized.


The above will have no impact on the operations of the Bank which is supported by a strong and dedicated Management team, with a proven track record and deep experience in banking and investment.


The Bank wishes to reassure its stakeholders that it continues to adhere to its growth strategy and achieve commendable results to deliver value to its shareholders.


Jean Raymond Rey
AfrAsia Bank Limited