Atlas Mara Limited

Atlas Mara Limited is a financial services holding company established to acquire and manage banks across sub-Saharan Africa. The company was founded in November 2013 by former Barclays Executive Bob Diamond and entrepreneur Ashish Thakkar. Atlas Mara's headquarters are located in Tortola, British Virgin Islands, with subsidiaries and investments in countries including Botswana, Germany, Mozambique, Nigeria, Rwanda, South Africa, South Sudan, Tanzania, Zambia, and Zimbabwe. The company was listed on the London Stock Exchange in December 2013, raising USD 325 million through an initial public offering.

The company's investment strategy focuses on acquiring and managing banks in sub-Saharan Africa, aiming to build a leading pan-African financial institution. Atlas Mara has made several acquisitions, including the purchase of African Development Corporation AG in Germany and BancABC in Southern Africa. The company has also invested in Union Bank of Nigeria, increasing its stake to 48% by 2018. In 2021, Access Bank completed the acquisition of BancABC, marking a significant development in the company's investment activities.

As of November 2024, Atlas Mara's stock price had declined significantly, losing 99.999% of its initial public offering price. The stock was trading at 0.0001 pence per share, effectively ceasing trading. This decline reflects the challenges faced by the company in achieving its investment objectives and highlights the complexities of operating in the African banking sector. Despite these challenges, Atlas Mara's efforts have contributed to the consolidation and development of the banking industry in sub-Saharan Africa.