Access Holdings Expresses Commitment To Redefine Banking In Africa

Access Holdings has expressed its commitment to continue to redefine banking in Africa despite the demise of its group managing director(GMD), Mr. Herbert Wigwe. 

The holdings firm, in a statement said, with a strategic vision and unwavering determination, Access Holdings has remained at the forefront of innovation, actively shaping the future of banking across the continent. 

“A defining moment in Access Holding’s trajectory was the merger with Diamond Bank in 2019, as part of a five-year strategic plan for continental expansion. This consolidation combined the strengths of both institutions, creating a financial powerhouse. Since then, Access Holdings has achieved a significant percentage of its goals and emerged as a robust entity spanning three continents and twelve countries, serving over 45 million customers. 

“In 2020, Access Holdings took a major step forward by acquiring a majority stake in Kenya-based Transnational Bank (TNB). By capitalising on TNB’s expertise in agricultural financing, Access Holdings enhanced its presence in key sectors and contributed to the economic development of the regions it serves,” it pointed out.  

Noting that the group’s efforts in nurturing the next generation of fintech firms through its partnership with the Africa Fintech Foundry (AFF) underlines its dedication to staying at the forefront of technological advancements, it added that, the AFF, a pan-African accelerator, aligns with Access Holding’s vision of driving innovation with a global perspective while focusing on African-centric product offerings. 

Access Holdings, it pointed out, has also extended its influence in powering digital payments across Africa through the launch of Access Africa, saying, “this innovative payment system facilitates various transactions, including Person-to-Person (P2P), Business-to-Business (B2B), Person-to-business (P2B), and government-to-person (G2P) payment, adding that,  Access Africa is a low-cost, secure payment option enabling millions of people to make diverse transactions effectively and efficiently.

 “Digital innovation remains a cornerstone of Access Holding’s strategy to redefine banking. Leveraging digital solutions for financial inclusion, the institution has rolled out initiatives such as partnering with Remita for PayDay loans to over five million external customers. As a result, Access Holdings has become Africa’s Gateway to the World in the financial industry,” it stressed. 

 The Group’s expansion journey, it stressed,  has been instrumental in establishing it as a major force in Africa and redefining the banking industry across the continent. 

With branches in diverse African nations, including Angola, Botswana, Cameroon, Democratic Republic of Congo, Gambia, Ghana, Guinea, Kenya, Mozambique, Rwanda, Sierra Leone, South Africa, Tanzania, and Zambia, the benefits of the Group’s continuous expansion extend beyond its immediate operational success, it said.

“The Group’s ability to scale rapidly has translated into a broader geographic footprint, offering enhanced access to its diverse product offerings. Financial indicators reflect the positive outcomes of its expansion, contributing to the growth of the agricultural, financial, tourism, and manufacturing sectors while steadily reducing poverty,” the statement added.