What began as one of the most closely watched cross border banking acquisition plans in East Africa has now officially fallen apart. The proposed takeover of Uganda’s Finance Trust Bank by Nigeria’s Access Bank Plc has collapsed nearly two years after the parties signed a definitive agreement that would have handed Access Bank majority control of one of Uganda’s homegrown commercial lenders. The deal, first announced in early 2024, was expected to strengthen Finance Trust Bank’s capital base and accelerate Access Bank’s strategic expansion into Uganda’s financial sector. But despite initial optimism, regional competition clearance, and cooperation from Ugandan regulators,…
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