MarketNews

Money market rates climbed further over a depressed funding profile in the banking system. Due to the absence of significant inflows from maturing instruments, the money market liquidity level closed on negative territory again on Thursday.

Access Holdings Plc has announced that its banking group’s, subsidiary, the Access Bank UK Limited has entered into a binding agreement to acquire a majority equity stake in Afrasia Bank Limited. In a statement, the group said Afrasia bank is Republic of Mauritius’ fourth largest bank by total assets.

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