By Ayomide Otitoju
Access Bank has announced intentions to issue dollar-denominated securities, aiming to attract Development Financial Institutions and open-market investors to strengthen its capital base and support expansion. This was disclosed by Managing Director Roosevelt Ogbonna at a media briefing in Lagos on Monday.
Ogbonna explained that the planned issuance would be in two tranches, with one tranche targeted at development financial institutions and the other available to the open market. He noted that Nigeria’s recent oversubscribed domestic FX bond, which raised over $900 million, would serve as a reference for Access Bank’s strategy.
Highlighting the bank’s growth vision, Ogbonna emphasized the need for a strong local presence in Africa as global banks reduce operations on the continent. “With international banks pulling out, there has to be a local African bank taking significant advantage of these opportunities,” he stated.
Access Bank plans to enter the U.S. market by the first quarter of 2026, joining its current offices in London, Paris, and a newly opened Hong Kong office. The bank’s “aggregator strategy” seeks to establish Access Bank among the top competitors in each market, with ambitions to be a top three bank in eight of its 19 African markets by 2027.
Ogbonna underscored that the bank’s investments would be in markets with strong rule of law and respect for contracts, aligning with its goal of becoming a dominant player in selected regions.
