Access Holdings Plc, trading as Access Corporation, (“the Corporation”), has announced the launch of its operations, as well as its initial portfolio companies and future strategy. The Corporation will have portfolio companies with considerable complementarities, allowing the ecosystem to walk with customers throughout their life cycle while creating value to stakeholders.
“Many of you would have heard us talk about Access Corporation earlier this year,” said Herbert Wigwe, the Group CEO of Access Corporation. “Our company’s natural evolution will ensure that we continue to employ digital tools and our Fintech partnerships to assist our clients’ lifestyles outside of the banking system. Over the last 20 years, we have set our eyes on and accomplished ambitious goals to revolutionize the African financial services sector.”
“Until now, we’ve focused on banking with the goal of becoming the World’s Most Respected African Bank,” he stated. Our banking business is presently Nigeria’s and Africa’s largest bank in terms of assets and client base. It is now time for us to take the next phase in our transformation, where we give our customers financial services that go beyond banking, delivering new integrated financial services that meet their demands.”
Verticals under the Corporation will include banking, payments, consumer lending, insurance broking, and asset management. Access Bank Group will continue to operate in Nigeria as well as across Africa, Europe, and Asia through its subsidiaries and commercial offices.
When these firms are integrated, Access Corporation will be able to provide banking services to our customers, including intra- and inter-Africa trade, consumer financing, payments services, and insurance services, allowing them to diversify and preserve their wealth.
With services covering B2B and B2C markets, B2B services, health, housing, digital, mobility content, mobility, core banking solutions, and other financial services such as insurance and wealth management, Access Corporation will be a significant financial and ecosystem player in five years.
“We realize and accept the current transition,” Wigwe concludes, “and, as we have already proved, we will lead. To the benefit of our stakeholders, Access Corporation will be a leading force in the growing digital revolution. This move will enable us to provide our workers with more career development options across our portfolio firms, allowing us to attract and retain the best people in an increasingly global market. We’ll provide more value to our clients by focusing on certain business areas with significant worldwide growth rates, such as payments and consumer loans.”