ABC Holdings has just completed its primary listing on the Botswana Stock Exchiange.
The bank is configured to be a one-stop shop for regional business. The objective is to play a key role in promoting investment and trade flows in the region. It has initial capital of about $45,7m, with supporting assets estimated at $253,1m.
ABCH, which has a secondary listing on the Zimbabwe Stock Exchange, focuses on merchant bank activities such as treasury, investment banking, structured trade finance and financing activities such as leasing, factoring and corporate lending.
ABCH chairman Rudy Hug, a Swiss banker, says: The bank has already broken new ground by becoming the first international financial services centre company in Botswana.
Hug says: This provides the bank with a highly tax-efficient structure that will help to accelerate growth.
ABCH has banking subsidiaries in Botswana, Zimbabwe, Tanzania, Zambia, Mozambique and Malawi.