Access Corporation Pledges to Unlock New Opportunities for African Trade

Access Holdings Plc, trading as Access Corporation yesterday announced its start of operations, with initial portfolio companies and its future strategy.

A statement from the company yesterday, explained that the Corporation, which builds on Access Bank’s scale and ethical standards, would have portfolio companies with significant complementarities, allowing the ecosystem to walk with customers across their life cycle while delivering value to stakeholders.

The Group CEO of Access Corporation, Herbert Wigwe, while speaking on its debut was quoted in the statement to have said: “Many of you would have heard us talk about Access Corporation earlier this year. This natural evolution of our company will ensure that we continue to use digital tools and our partnership with fintechs to support our customers’ lifestyles outside of the banking system.

“We have set our sights on and delivered ambitious plans to transform the African financial services sector over the last 20 years. Until now, we have concentrated on banking, with the goal of becoming the World’s Most Respected African Bank. Our banking subsidiary is now Nigeria’s largest bank by assets and Africa’s largest in terms of customer base.

“It is now time for us to take the next transformative step, where we provide our customers with beyond banking services delivering new interconnected financial services across customers’ needs.”

The Corporation would comprise verticals cutting across banking, payments, consumer lending, insurance brokerage and asset management.

“Access Bank Group will continue to operate in Nigeria and through its subsidiaries and business offices in Africa, Europe, and Asia. These businesses, when combined, will position Access Corporation to provide banking services, including intra-and inter-Africa trade, consumer lending, payments services, and insurance services to our customers, thereby improving wealth diversification and preservation.

“Looking ahead five years, Access Corporation will be a leading financial and ecosystem player, with services spanning B2B and B2C marketplaces, B2B services, health, housing, digital, mobility content, mobility, core banking offerings, and other financial services such as insurance and wealth management,” Wigwe added.

“We recognise and embrace the change that is currently happening and, as we have previously demonstrated, we will lead. Access Corporation will be a driving force in the ongoing digital revolution to the benefit of our stakeholders. This transition will allow us to offer more career development opportunities across portfolio companies for our employees, allowing us to attract and retain the best talent in an increasingly global marketplace.

“We will unlock more value for our customers by focusing on distinct business opportunities with high growth rates globally, such as payments and consumer lending,” he said.