Atlas Mara Co-Nvest Limited
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| Public | |
| Traded as | : |
| Industry | Banking and Finance |
| Founded | 28 November 2013 |
| Founders |
Robert Edward Diamond Jr Ashish Thakkar |
| Headquarters | Tortola, British Virgin Islands |
|
Key people
|
John Vitalo Chief Executive Officer |
| Products | Commercial banking |
| Revenue | US$ 205.2 Million (2015) |
 US$ 11.3 Million (2015)
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|
| 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, 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.
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.
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. 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 on December 17, 2013 through an IPO which raised USD 325 million.
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:
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 fourth quarter of 2014.
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