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… Strengthens Financial Status Through N17B Shares

Amaka Obiefuna

To boost its status in the financial sector, Access Holdings Plc has launched a rights issue to raise N351 billion in capital, targeting to be among the top five financial institutions in Africa by 2027.

To this end, it is offering 17.77 billion ordinary shares at N19.75 per share.

The company which operates in 22 countries with 15 of them in Africa, has made outstanding financial results and has continued in its innovations for growth and development.

Its records include 335 per cent increase in pre- tax profit and 87 per cent surge in gross earnings.

With 700 branches and service outlets, Access bank is serving over 60 million customers, just as the Group Chairman of Access Holdings, Aigboje Aig-Imoukhuede, while making his presentation at the Nigerian Exchange Group (NGX) in Lagos on Tuesday, noted that Access bank has transformed from a small entity it was in 2002 to a premier institution currently.

The Group Managing Director, Roosevelt Ogbonna, of the company on his part, emphasised the bank’s expansion strategy, including planned entry into offshore new markets.

These lucrative markets according to him, include those in Africa Europe as well as Asia while it eyes the United States markets with plans for a huge entry.

Ogbonna stressed that Access Holdings is focused on innovations geared towards selling Africa to the entire globe.

He said: “We are pushing the boundaries, we’re looking for new ways to do things, we’re selling Africa to the rest of the world and that’s what guides what we do.”

Also speaking, the Acting Group CEO, Bolaji Agbede, stated that the rights issue will drive sustainable growth, solidify the company’s market leadership, and propel it towards becoming one of Africa’s top five financial institutions by 2027.

Chairman of NGX, Umaru Kwairanga, Group assured the Access Holdings that the offer will be oversubscribed.