The bank hopes the Mauritian foray to position itself for trade finance and regional connectivity, boosting its potential to facilitate cross-border transactions across the continent and beyond.
Nigerian lawmakers violate country’s law, ignore PWD’s needs despite spending N42 billion on renovationsSPECIAL REPORT: How disinformation fueled ethnic tensions in KadunaNigeria and the second coming of Trump, By Bámidélé Adémólá-Olátéjú,The storming, stunning, thumping return of Trump, By Reuben AbatiINVESTIGATION: Dasuki Money Trail: How ex-NSA approved suspicious billions for family...
Access Bank UK Limited, a subsidiary of the financial services group, executed the transaction on behalf of its parent company, Access Holdings said in a statement Thursday morning. “This acquisition marks a pivotal moment in our African growth strategy, reinforcing our position as a leading pan-African financial institution,” said Access Bank CEO Rosevelt Ogbonna.
It has set itself the ambitious goal of being among the top ten banks in every market it operates in.Rather than concentrating on shareholder rewards in the short term, the corporation is taking the long view by committing the bulk of its resources to international expansion, with over 70 per cent of equity going into banking acquisitions within Africa and diversification into promising sectors within financial services.
While the first tranche is targeting individual Nigerians with the recently issued Nigerian Government diaspora bond serving as a template, the second tranche to be issued by next June is seeking development finance institutions as investors.
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