By Ayomide Otitoju
Access Bank PLC, a flagship subsidiary of Access Holdings PLC, has finalized its acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited. The milestone was announced on November 27, 2024, marking a significant expansion of Access Bank’s footprint in Africa.
Speaking on the achievement, Roosevelt Ogbonna, Managing Director/CEO of Access Bank PLC, said:
“We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone. These deals strengthen our position in the Corporate and SME banking sectors and represent another step toward our vision of becoming the world’s most respected African bank.”
Expanding Across Africa
Access Bank is also finalizing transactions to acquire Standard Chartered’s subsidiaries in Cameroon, The Gambia, and its Consumer, Private, and Business Banking operations in Tanzania.
The acquisitions align with Access Holdings’ broader strategy to deepen its presence in key African markets. The company, operating across 23 countries and serving over 60 million customers, continues to leverage its expansive network to deliver innovative banking solutions.
A Legacy of Growth
Access Bank has enjoyed remarkable growth over the last 22 years, particularly following its 2019 merger with Diamond Bank. The bank is now Nigeria’s largest by total assets and one of Africa’s largest retail banks by customer base. Its diversified business segments—Corporate and Investment Banking, Commercial Banking, and Retail Banking—drive its market-leading position.
Complementary Subsidiaries
Access Holdings operates through four subsidiaries:
Hydrogen Payment Services Company Limited, a fintech leader addressing Africa’s unique payment challenges.
Access ARM Pensions Limited, one of Nigeria’s largest Pension Funds Administrators, managing nearly ₦3 trillion in assets.
Access Insurance Brokers Limited, offering risk management solutions tailored to individuals and businesses.
Access Holdings’ commitment to sustainability and innovation underscores its strategic investments across sectors, further solidifying its leadership in Africa’s financial services landscape.
