Overview
BancABC is a financial services provider in Southern Africa and Eastern Africa. As of December 2015, the bank's group assets were valued at about US $1.81 billion, with shareholders' equity valued at US $115.75 million. BancABC has subsidiaries in Botswana, Mozambique, Tanzania, Zambia, and Zimbabwe. With plans to expand into Angola, South Sudan, and Uganda.
History
The establishment of ABC Holdings Limited commenced with a merger between First Merchant Bank (FMB) and Heritage Investment Bank (HIB) in 1997.
ABC Holdings Limited was registered and listed on the Botswana Stock Exchange, with a secondary listing on the Zimbabwe Stock Exchange in 2000. The certification committee of the Botswana International Financial Services Centre (IFSC) granted IFSC status to both ABC Holdings Limited and African Banking Corporation (International) Limited, which is a 100 percent subsidiary of ABC Holdings Limited. In April 2009, the bank re-branded to BancABC. On 31 March 2014, Atlas Mara Co-Nvest Limited announced its offer to acquire ABC Holdings Limited. Atlas Mara made direct agreements with existing shareholders to acquire up to 88% of the group and subsequently make a mandatory offer for the remaining 12% stake in BancABC. This acquisition deal was valued at approximately US$265 million. The acquisition was concluded on November 28, 2014 and ABC Holdings Limited's stock was delisted from the BSE and ZSE.
About
One of the core values that forms the foundation upon which BancABC operates is its focus on people. We recognize that within and outside our organization, people are the single most important success factor.
By creating a participative environment that empowers people to realize their aspirations, we have established an evolving culture that inspires, uplifts and motivates our people to achieve their true potential.
It is this unwavering belief in people that has given us the confidence to aim for a market capitalization of USD 5 billion by the year 2015.
BancABC also provides unique career opportunities for talented people looking to make a difference in reshaping Africa's social and financial landscape.
The Bank implements rigorous recruitment practices to identify individuals who can contribute to the growth of the organisation. BancABC is a strong subscriber to the reward for performance principle. The Bank is committed to maintaining high performance standards and providing competitive conditions of service. We offer a supportive work environment, abundant and tailored development opportunities as well as scope for advancement and equal employment opportunities with the aim of attracting, developing and retaining talent.
An important cornerstone of BancABC's talent management is that the Bank must possess staff who offer the necessary range of job-specific skills, and whose attitudes toward their work and colleagues enable them to channel their skills, energies and expertise into performing productively for BancABC and clients. The Human Capital function consistently identifies and promotes the necessary skills that can take the Bank forward.