Access Holdings Expands Footprint With Major Acquisitions In Africa

Access Holdings PLC, the parent company of Access Bank PLC, has announced the successful completion of its acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank Sierra Leone Limited. The milestone marks a significant leap in the bank’s strategic vision to expand its footprint across Africa.

Speaking on the achievement, Roosevelt Ogbonna, MD/CEO of Access Bank PLC and CEO of the Banking Group, highlighted the importance of the acquisitions. “These transactions afford us synergies to strengthen the quality of our earnings in Angola and Sierra Leone by significantly growing our share of Corporate and SME banking in both markets. This is another step towards our broader vision of becoming the World’s Most Respected African Bank,” he said.

In addition to the acquisitions, Access Bank is working to finalize transactions for Standard Chartered Bank’s subsidiaries in Cameroon, The Gambia, and its Consumer, Private, and Business Banking business in Tanzania.

Access Holdings PLC operates a vast network of over 700 branches and service outlets across three continents, serving more than 60 million customers in 23 countries. The company’s diverse portfolio includes subsidiaries in banking, payments, pension administration, and insurance, positioning it as a leading player in Africa’s financial ecosystem.

One such subsidiary, Hydrogen Payment Services Company Limited, is revolutionizing Africa’s fintech landscape with solutions like InstantPay, POS services, and Card and Switch processing. Another arm, Access ARM Pensions Limited, leverages key partnerships and Access Bank’s ecosystem to deliver superior pension administration services.

Meanwhile, Access Insurance Brokers Limited provides risk management solutions tailored to the dynamic needs of individuals and businesses, ensuring resilience in an ever-changing global landscape.

Access Holdings also remains committed to sustainability, investing in businesses that drive positive environmental impact. With these acquisitions and initiatives, the company is reinforcing its leadership role in Africa’s financial sector.

For more updates on Access Holdings’ milestones and the latest in business and finance, visit fasnewsng.com.

By LekanOlofinsusi