Access Bank Acquires Bank in Angola.



Access Bank, a leading financial institution in Nigeria, has once again demonstrated its commitment to expanding its presence in the African market by opening numerous branches.

In its latest move, Access Bank’s subsidiary, Access Holdings, has successfully acquired a majority stake in Finibanco Angola S.A., a prominent bank in Angola making it one of its branches. 

Picture Source- Pinterest.

This exciting development was officially announced through a notice filed on the Nigerian Stock Exchange on July 13, 2023.

This strategic acquisition follows Access Bank’s earlier success in securing a Zambian banking giant as one of its branches, which solidified its position in that country.

The bank’s Chief Executive Officer, Herbert Wigwe, expressed great optimism about the completion of the transaction and emphasized the significant progress made in integration planning.

Through this new branch leveraging their extensive distribution network, cutting-edge technology, and robust risk and governance practices, Access Bank aims to cater to high-growth businesses and the burgeoning consumer sector in Angola.

Picture Source- Pinterest.

The Chief Executive Officer, Access Holdings, Dr.Herbert Wigwe, said, “In anticipation of the completion of the transaction, the bank has made excellent progress in integration planning.

“Our plan is to leverage our expansive distribution network, best-in-class technology, risk and governance practices to serve high-growth businesses and the rising consumer sector in Angola.

“We will act as a positive catalyst to foster greater innovation and promote the deepening of the financial sector in Angola in line with our strategic growth objective in the broader South African Development Community while delivering value to our stakeholders.”

Furthermore, Access Bank’s ambitious expansion plans of opening numerous branches align with its broader strategic growth objective within the South African Development Community.

By acting as a positive catalyst for innovation and contributing to the deepening of Angola’s financial sector, Access Bank seeks to deliver value to its stakeholders while leaving a lasting impact on the local economy.

Access Bank Expands its Presence in Zambia Through Successful Acquisition and Merger.

 This recent acquisition and situating of one of its branches in Zambia is just one example of Access Bank’s relentless pursuit of growth in African markets.

In March of this year, the bank successfully completed the acquisition and merger of Access Bank Zambia Limited and the African Banking Corporation Limited, further solidifying its presence in Zambia with the approval of the Central Bank of Zambia.

Access Bank Sets its Sights on Pan-African Domination.

Over the past four years, Access Bank has demonstrated its insatiable appetite for expanding into new territories by acquiring banks, opening numerous branches and financial institutions across the African continent.

To fuel this expansion, Access Holdings, the bank’s parent company, recently invested a staggering $300 million into Access Bank, enabling the institution to amplify its acquisition spree and extend its reach across Africa by opening numerous branches in the continent.

With each strategic move, Access Bank continues to reinforce its position as a leading player in the African banking sector. By capitalizing on its robust resources, Access Bank remains committed to fostering economic growth, promoting innovation, and driving financial development across the continent.


Exit mobile version