In a strategic move to bolster its presence in the financial services sector, Access Holdings Plc has officially acquired Megatech Insurance Brokers Limited, a licensed and regulated insurance brokerage company overseen by the National Insurance Commission. The announcement, conveyed in a notice to the investing public and the Nigerian Exchange Limited, signals Access Holdings’ commitment to diversifying its portfolio.
The successful acquisition comes after obtaining all requisite regulatory approvals, positioning Megatech as an integral part of Access Holdings’ broader vision to create a globally connected community of ecosystems inspired by Africa. The move is set to enhance the company’s existing suite of product offerings, providing a more comprehensive range of financial services.
Sunday Ekwochi, the Company Secretary, emphasized the significance of the acquisition in advancing Access Holdings’ mission to establish a world where risks are efficiently managed. This strategic alignment is anticipated to empower individuals and businesses, instilling confidence to pursue and capitalize on growth opportunities.
Dr. Herbert Wigwe, Group Chief Executive Officer of Access Holdings, highlighted the natural evolution of the company’s global connectivity and ecosystem. He stated, “This acquisition is a natural step in our evolution as a globally connected community and ecosystem and aligns with our mission to build and sustain one global platform, open for anyone to join where people can be connected to exceptional opportunities.”
The acquisition reflects Access Holdings’ commitment to intelligent solutions designed to mitigate unique risks faced by businesses and individuals. Dr. Wigwe emphasized the company’s dedication to employing cutting-edge risk management tools and governance standards.
Access Holdings has been actively expanding its footprint, with recent notable acquisitions, including the completion of Access Bank Zambia Limited’s acquisition of Atlas Mara Zambia. The move positioned Access Bank Zambia as one of the top five banks by revenue in Zambia, with aspirations to reach the top three by 2027.
Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, expressed enthusiasm about the recent acquisition, marking a significant milestone in their pursuit to become the world’s most respected African bank. Lishala Situmbeko, CEO of Access Bank Zambia, emphasized the benefits of merging the two businesses, creating a stronger, more competitive financial institution contributing to Zambia’s economic recovery.
The acquisition of Megatech Insurance Brokers Limited adds a new dimension to Access Holdings’ growing influence in the financial sector, underscoring its commitment to providing innovative financial solutions to an expanding audience. This move reinforces the company’s position as a key player in shaping the financial landscape
