Access Holdings Completes Acquisition of Standard Chartered Bank Angola, Sierra Leone Subsidiaries

Access Holdings PLC, the parent company of Access Bank PLC, has announced the successful completion of the acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited.

This development marks a significant milestone in Access Bank’s strategic expansion across Africa.

Speaking on the completion of the acquisitions, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank PLC, expressed his enthusiasm:

“We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone. These ventures provide synergies to strengthen the quality of our earnings in both countries by significantly increasing our share of the Corporate and SME banking markets.

“This achievement represents another significant step towards our vision of becoming the world’s most respected African bank.”

The acquisitions are part of a broader transaction that will see Access Bank acquire Standard Chartered Bank’s subsidiaries in Cameroon, The Gambia, and the Consumer, Private, and Business Banking operations in Tanzania.

Access Holdings PLC operates an extensive network of over 700 branches and service outlets across three continents, 23 countries, and serves more than 60 million customers.

The company operates through four key subsidiaries:

Access Bank PLC: The banking subsidiary operates through Corporate and Investment, Commercial, and Retail segments. Since its merger with Diamond Bank in 2019, Access Bank has become one of Africa’s largest retail banks by customer base and Nigeria’s largest bank by total assets.

Hydrogen Payment Services Company Limited: The payments subsidiary leverages the Bank’s robust customer base and infrastructure to address unique payment challenges across Africa. Its products, including InstantPay, Payment Gateway, and Card and POS services, are gaining traction in the market.

Access ARM Pensions Limited: With assets under management nearing N3 trillion and serving over two million Retirement Savings Account holders, the pensions subsidiary stands as one of Nigeria’s leading Pension Funds Administrators.

It was formed through the merger of Access Pensions Limited and ARM Pension Managers Limited.

Access Insurance Brokers Limited: Licensed by the National Insurance Commission, this subsidiary offers innovative risk management solutions for businesses and individuals in an evolving landscape.

Access Holdings continues to prioritise investments in businesses committed to sustainability and environmental stewardship.

Its latest acquisitions reinforce its growth trajectory as one of Africa’s most influential financial institutions.

The company has reiterated its commitment to transparent disclosures as it works towards completing other transactions in the pipeline.