Access Holdings announced on Wednesday that its flagship subsidiary, Access Bank, has successfully completed the acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited.
Roosevelt Ogbonna, the Managing Director/CEO of Access Bank PLC and CEO of the Banking Group, emphasized the significance of the milestone:
“We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone. This affords us synergies to strengthen the quality of our earnings from both countries by significantly growing our share of the Corporate and SME banking sectors in these markets.”
Ogbonna highlighted that these acquisitions mark a key step in Access Bank’s broader vision of becoming “the World’s Most Respected African Bank.”
The bank also confirmed that further transactions are underway to acquire Standard Chartered’s subsidiaries in Cameroon, the Gambia, and the Consumer, Private, and Business Banking business in Tanzania. Access Holdings assured stakeholders that it will continue to provide timely disclosures as the acquisitions progress.
