A public notice by the National Bank of Malawi has outlined that discussions on possible acquisition of Tanzania’s Akiba Commercial Bank are nearing completion.

The bank has since issued a cautionary statement as acquisition may affect its share price on the local bourse, the Malawi Stock Exchange. “Shareholders are, therefore, reminded to continue to exercise caution in dealing in their shares in the company and consult professional advisors before dealing in their shares until such time as the result of the negotiations are known,” the statement reads.

A few weeks ago, the Tanzanian Fair Trading Commission cleared NBM to acquire a 75% stake in the Tanzania-based bank.