Access Holdings Acquisitions: Wigwe Explains Decision To Buy Insurance Company, Banks In Two Countries
The GCEO of Access Holdings, the parent company of Access Bank, Herbert Wigwe, has explained the reason behind the decision for the company’s recent acquisitions.
Access Holdings in recent weeks has made three significant acquisitions, which include two banks, a fintech, and an insurance firm.
In a statement signed by Sunday Ekwochi, Secretary at Access Holding, published on the Nigerian Exchange, Wigwe explained reason for the acquisition and outlined plans for the future.
Commenting on the acquisition of Megatech Insurance Brokers Limited, an insurance brokerage company, Wigwe said the acquisition is a natural step in the Bank’s evolution as a globally connected community and ecosystem and aligns with its mission to build and sustain one global platform, open for anyone to join where people can be connected to exceptional opportunities.
In his words, “Megatech will strive to create a world where risk is efficiently managed so that we can confidently seek and seize growth opportunities.”
He added that the company will design and provide intelligent solutions that mitigate the unique risks individuals and businesses face in an ever-changing world using leading risk management tools and governance standards.
Also, Access Bank, through its subsidiary Access Bank Zambia Limited, completed its acquisition of African Banking Corporation Zambia Limited, trading as Atlas Mara Zambia, after obtaining all requisite regulatory approvals.
Commenting on the acquisition, Wigwe said, “This represents a major achievement for Access Bank Plc in our pursuit of becoming the most esteemed African bank globally.
We are well-positioned for success, aligning the strong brands, extensive history, common values, and top-notch strategies of both entities to generate opportunities that benefit all stakeholders across Zambia and the SADC region.”
Another major deal is the agreement reached to acquire 80% of Finance Trust Bank Limited (FTB) in Uganda.
Wigwe said on the investment, “We are building a strong and sustainable franchise to support economic prosperity, encourage African trade, and advance financial inclusion thereby empowering many to achieve their financial dreams.
“The expansion to Uganda will support the realization of our aspiration to become Africa’s payment gateway to the world.”
Another recent deal is the acquisition of Woven Finance, a digital payment company through Access Bank Plc’s fintech arm, hydrogen.
