public traded as lse atma industry banking and finance founded 28 november 2013 ; 2 years ago 2013 11 28 founders robert edward diamond jr ashish thakkar 1 headquarters tortola british virgin islands key people john vitalo 2 chief executive officer products commercial banking revenue us 205.2 million 2015 3 net income us 11.3 million 2015 total assets us 2.45 billion 2015 total equity us 630 million 2015 number of employees 6 500 2015 website homepage atlas mara limited formerly referred to as atlas mara co nvest limited 4 is a financial services holding company formed to undertake the acquisition of target banks in africa with the objective of becoming a leading financial services group in the continent . 5 the group s headquarters are located in tortola british virgin islands with subsidiaries and investments in botswana germany mozambique nigeria rwanda south africa south sudan tanzania zambia and zimbabwe . contents 1 history 2 member companies 2.1 subsidiaries 2.2 associate companies 3 governance 4 see also 5 references 6 external links history edit atlas mara was founded on november 28 2013 by former barclays executive bob diamond and entrepreneur ashish thakkar through atlas merchant capital llc and mara group holdings limited as their investment vehicles respectively . 6 atlas merchant capital llc held 80 % while mara group holdings limited held 20 % of the venture upon incorporation . the group s geographical area of focus is on the african continent . the company was listed on the london stock exchange on december 17 2013 through an ipo which raised usd 325 million . 7 march 31 2014 atlas mara announced that it had made an offer to acquire sub saharan african bank abc holdings limited and frankfurt based african development corporation ag adc for approximately 265 million . this was to be done through a three phase acquisition strategy 8 the group would acquire 50.1 % stake of bancabc through direct agreements . the group would make a voluntary offer to acquire a majority stake in adc bringing total ownership in bancabc up to 88 % . the group would make a subsequent mandatory offer for the remaining 12 % stake in bancabc . this acquisition would give the group presence in botswana mozambique tanzania zambia and zimbabwe and a minority stake in the union bank of nigeria . the transaction was scheduled to be completed in the forth quarter of 2014 . 9 on may 24 2014 the board of atlas mara announced that the group would be acquiring government of rwanda stake in the commercial arm of the rwanda development bank brd . 10 11 in september 2014 atlas mara acquired a 20.9 percent stake in the union bank of nigeria from asset management company of nigeria 12 for 270 million putting its total holding in the firm at almost 30 percent . 13 on september 22 2014 atlas mara made a mandatory offer for remaining 4.2 % outstanding shareholding in abc holdings that the group did not hold in abch . the minority shareholders would either opt for a cash consideration or receive 0.0683 ordinary shares of atlas mara for each abch share held . 14 this will lead to the delisting of abc holdings from both the botswana and zimbabwe stock exchanges . 15 this delisting was finally concluded on 28 november 2014 . 16 on october 16 2014 atlas mara announced that it had completed its previously announced acquisition of the development bank of rwanda s commercial banking business which had been spun off into a new subsidiary following an internal reorganization of brd . this subsidiary was incorporated to run the commercial loan portfolio brd s insurance brokerage firm and a piece of a commercial plot adjacent to brd s kigali headquarters . 17 in april 2015 the group announced its intention to acquire a significant minority interest in banque populaire du rwanda sa bpr . the group would then marge bpr s business to that span off brd then acquire secondary shares from existing shareholders resulting in the company having a controlling stake of the merged business . 18 in 2016 atlas mara completed the purchase of finance bank of zambia fbz with consideration settled by approximately 61 million in cash and 3.3 million atlas mara shares not including deferred contingent consideration of up to 1.3 million atlas mara shares . fbz will be combined with atlas mara s zambian subsidiary african banking corporation zambia limited bancabc zambia with pro forma combined assets as at december 31 2015 of approximately 567 million . the acquisition will position the merged bank as one of the largest banks in terms of branch footprint in zambia with the physical presence increasing from 23 branches to 65 branches a total of 176 atms and 23 agencies . 19 member companies edit the companies that comprise the atlas mara group include but are not limited to the following 20 subsidiaries edit african development corporation ag holding company frankfurt germany 100 % shareholding a commercial bank holding company . adc management services holding company port louis mauritius 100 % shareholding a commercial bank holding company . held through african development corporation . abc holdings limited holding company gaborone botswana 99 % shareholding 3 a commercial bank holding company . held through adc management services . bancabc botswana gaborone botswana 100 % shareholding a commercial bank in botswana serving individuals and businesses . held through abc holdings limited . bancabc mozambique maputo mozambique 100 % shareholding a commercial bank in mozambique serving individuals and businesses . held through abc holdings limited . bancabc tanzania dodoma tanzania 74 % shareholding a commercial bank in tanzania serving individuals and businesses . held through abc holdings limited . bancabc zambia lusaka zambia 100 % shareholding a commercial bank in zambia serving individuals and businesses . held through abc holdings limited . in november 2015 atlas mara announced that it would be acquiring finance bank of zambia and merge its operations to those of bancabc zambia . this would result in the creation of zambia s largest bank by branch network and fifth largest bank by assets . 21 bancabc zimbabwe harare zimbabwe 100 % shareholding a commercial bank in zimbabwe serving individuals and businesses . held through abc holdings limited . rswitch limited kigali rwanda 88.54 % shareholding a payment solution provider in rwanda . held through adc management . tanzania development finance company limited dar es salaam tanzania 68 % shareholding a development finance company . held through abc holdings limited . banque populaire du rwanda 62 % shareholding a commercial bank in rwanda serving individuals and businesses and offering bancassurance services . brd commercial bank s operations were merged to those of bpr creating rwanda s the second largest bank by total assets . 22 associate companies edit union bank of nigeria lagos nigeria 29.9 % shareholding a commercial bank in nigeria . 23 ubn is listed on the nigeria stock exchange . icea lion tanzania dar es salaam tanzania 47 % shareholding an insurance company underwriting general insurance business in tanzania . icea lion tanzania is a venture between kenyan based icea lion group and tanzania development finance company limited . 24 iveri payment technologies 49 % shareholding a payment solution provider in south africa . held through adc management . 25 credit insurance zimbabwe limited harare zimbabwe 24 % shareholding an insurance company underwriting general insurance business in zimbabwe . held through bancabc zimbabwe . governance edit the chairman of the board of directors of atlas mara limited is arnold o. ekpe while john vitalo serves as the chief executive officer . see also edit bancabc union bank of nigeria rwanda development bank list of banks in africa references edit amcnvl . 2013 . atlas mara co nvest limited 2013 prospectus page 43 pdf . atlas mara co nvest limited amcnvl . rns . 8 april 2014 . atlas mara appoints group ceo . regulatory news service rns . retrieved 5 september 2014 . a b amcv 31 december 2015 . atlas mara co nvest limited 2015 annual report pdf . london atlas mara co nvest limited amcv . retrieved 3 june 2016 . aml 27 january 2015 . atlas mara name change . tortola atlas mara limited aml . retrieved 3 june 2016 . bray chad 26 april 2016 . atlas mara exploring a bid for barclays africa group . the new york times . new york city . retrieved 3 june 2016 . atma . 2013 . atlas mara co nvest limited 2013 prospectus page 51 to 53 pdf . atlas mara co nvest limited atma . retrieved 5 september 2014 . arif sharif and tim barwell 17 december 2013 . diamond backed atlas mara raises 325 million in london ipo . bloomberg.com . retrieved 3 june 2016 . renee bonorchis mbongeni mguni and godfrey marawanyika 1 april 2014 . bob diamond s atlas mara buys bank in first africa purchase . bloomberg news . retrieved 5 september 2014 . ndlovu ray 5 september 2014 . atlas mara to buy rest of bank group . business day south africa . retrieved 5 september 2014 . porter kiel may 23 2014 . atlas mara to buy stake in development bank of rwanda arm . bloomberg news . retrieved september 5 2014 . jenny clove ; edmund blair ; anthony barker april 6 2014 . atlas mara plans to buy stake in state run rwandan bank . retrieved september 5 2014 . amcil september 8 2014 . atlas mara ubn transaction announcement pdf . atlas mara co nvest limited amcil . retrieved october 7 2014 . press release 5 september 2014 . bob diamond s africa bank buys stake in nigeria s ubn press release . reuters . amcil 22 september 2014 . mandatory offer for remaining 4.2 % of abc holdings . atlas mara co nvest limited amcil . retrieved 7 october 2014 . bancabc to delist from zimbabwe botswana stock . new zimbabwe . september 3 2014 . retrieved october 7 2014 . amcil 28 november 2014 . atlas mara issue of shares and total voting rights . atlas mara co nvest limited amcil . retrieved 28 november 2014 . atlas mara completes acquisition of brd . new times . october 15 2014 . retrieved october 18 2014 . atlas mara announces potential acquisition of stake in bpr and merger of brd commercial and bpr . investis . atlas mara . 2015 04 27 . retrieved 2015 04 29 . rns 1 july 2016 . completion of acquisition of finance bank zambia limited . london regulatory news service rns . retrieved 11 october 2016 . atlas mara company structure . atma . retrieved 2016 01 08 . aml 2 november 2015 . atlas mara to acquire finance bank of zambia plc . atlas mara limited aml . retrieved 13 november 2015 . atlas mara limited completion of bpr acquisition . yahoo . 7 january 2016 . retrieved 8 january 2016 . sharman andy 5 september 2014 . bob diamond s atlas mara raises stake in union bank of nigeria . the financial times london . retrieved 5 september 2014 . icea lion tanzania shareholders and reinsurers . icea lion group . retrieved october 7 2014 . adc operations private equity iveri payment technologies . african development corporation . retrieved october 28 2014 . external links edit atlas mara co nvest homepage development bank of rwanda bancabc retrieved from https en.wikipedia.org w index.php title atlas mara limited & oldid 743871480 categories companies listed on the london stock exchangebanks established in 2013companies established in 2013holding companies established in 2013 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this