Access Bank Shares Plan for Expansion as It Takes Over 130-Year-Old Bank

• Access Holdings Plc is set to enter a critical optimisation phase in its strategic plan as it moves towards 2027, focusing on scaling, consolidating, and improving operational efficiency
• The Group aims to enhance financial inclusion in Africa by bringing millions of unbanked individuals and MSMEs into the formal financial system through increased digital access.
• With a strong presence in over 20 markets, Access Holdings continues to expand its operations, focusing on capital productivity, customer experience, and leveraging data and technology to drive financial inclusion

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market

Access Bank's parent business, Access Holdings Plc, has reiterated its long-term strategic plan, which is based on a methodical and planned progression: scale, optimise, and sustain.

As the company moves into 2027, this roadmap—which has propelled the Group's aggressive expansion throughout Africa and into important international markets—is about to reach a critical optimisation phase that should yield substantial value for all parties involved.

Speaking on the strategy, Acting Group Chief Executive Officer, Bolaji Agbede, said, “Our approach has always been clear: scale first through strategic expansion, then optimise through consolidation, synergy realisation, and operational efficiency."

“During the scale-up phase, a considerable amount of funding is required to drive investments in people, systems, infrastructure, and acquisitions.

But as we move deeper into the optimisation phase, we will begin to see the full benefits manifest, especially in terms of profitability, capital efficiency, and shareholder returns,”

“We are confident that as we approach 2027, the full impact of our strategic moves will become evident. This is about growing bigger and becoming better, faster, and more resilient,” Agbede stated.

Impact and financial inclusion are also important to Access Holdings' growth ambition in its five-year strategic plan, which spans until 2027.

The Group wants to bring millions of neglected and unbanked people and MSMEs in Africa into the formal financial system by increasing digital access and growing low-cost delivery platforms.

This is a component of a larger plan to boost intra-African trade, empower small enterprises, and fortify the value chain in important industries including manufacturing, commerce, and agriculture.

Daily Champions reported that the financial results for the entire year 2024 show that the Group's investments are already paying off.

Earnings increased to N867.0 billion. With a 55.5 percentage increase in total assets to N41.498 trillion, Access Holdings solidified its standing as one of Africa's most powerful financial services companies.

With significant subsidiaries in the UK, France, and South Africa as well as important trade routes in Asia and the Middle East, Access Holdings has persisted in expanding its presence in more than 20 markets.

Despite being capital-intensive, these strategic initiatives are already helping to diversify the Group's earnings base and establish it as an African global player.

The Group will concentrate on increasing capital productivity, improving customer experience, developing digital innovation, and streamlining operations as it enters the optimisation phase.

Using data and technology to increase access, lower transaction costs, and hasten financial inclusion—especially for women, young people, and rural communities—is a crucial component of this phase.

While continuing to lead the financial services sector in innovation, inclusivity, and impact, Access Holdings is dedicated to creating a globally linked community and providing long-term value to its stakeholders.

Access Bank takes over Standard Chartered Bank

Legit.ng reported that Nigeria’s banking giant, Access Bank, has completed the takeover of Standard Chartered Bank in The Gambia.

The takeover on June 13, 2025, will see Standard Chartered Bank cease to operate in The Gambia after 130 years of operations.

The governor of the Central Bank of The Gambia, Buah Saidy, disclosed this recently during a press conference at The Gambia’s apex bank’s headquarters in Banjul.

Source: Legit.ng