Page 310 - ACCESS BANK ANNUAL REPORTS_eBook

(ii) Structured entities: Ownership interest

Nature of Country of December December
business incorporation 2017 2016

Restricted Share Performance Plan (RSPP) Financial
services Nigeria 100% 100%

27(b) Investment in subsidiaries

Bank Bank
In thousands of Naira December December
2017 2016

Subsidiaries with continuing operations
Access Bank, UK 40,500,598 29,104,081
Access Bank, Ghana 15,558,107 15,558,107
Access Bank Rwanda 1,578,825 1,578,825
Access Bank, Congo 13,205,189 2,779,650
Access Bank, Zambia 4,274,925 4,274,925
Access Bank, Gambia 7,061,501 1,853,756
Access Bank, Sierra Leone 1,582,486 1,019,951
Investment in RSPP scheme 4,028,909 3,065,865
Access Finance B.V. 4,092 4,092
Balance, end of year 87,794,631 59,239,252

Based on the contractual arrangements between the Group and the Shareholders in each of the entities, the Group has
the power to appoint and remove the majority of the Board of Directors of each entity.

The relevant activities of each of the listed subsidiaries are determined by the Board of Director of each entity based
on simple majority shares. Therefore, the directors of the Group concluded that the Group has control over each of the
above listed entities and were consolidated in the group financial statements.

310 Access BAnk Plc
Annual Report & Accounts 2017