Access Holdings Plc, the parent company of Access Bank Plc, announced a significant acquisition, securing a majority stake in Afrasia Bank Limited, the fourth-largest bank in the Republic of Mauritius. The landmark acquisition, disclosed on November 14, 2024, marks a strategic expansion for Access Holdings into Mauritius’s robust financial services sector.
Mauritius, a regional financial powerhouse where financial services contribute 13.4% to GDP, offers Access Bank a stable foundation for its personal and corporate banking expansion. Access Bank intends to utilize Mauritius as a trade finance hub, strengthening its cross-border capabilities within Africa and beyond. “This acquisition reinforces our position as a leading Pan-African financial institution,” said Roosevelt Ogbonna, Managing Director and CEO of Access Bank Plc, describing the transaction as pivotal for the company’s African growth strategy.
Through Afrasia Bank, Access Holdings aims to promote financial inclusion, support businesses, and leverage Mauritius’s global connectivity to advance Access Bank’s vision to become the “World’s Most Respected African Bank.”
Jamie Simmonds, Managing Director of Access Bank UK, emphasized the sustainable growth potential Afrasia Bank provides, aligning with Access Holdings’ broader strategy to diversify revenue and support clients’ global market access.
Recent Acquisitions Strengthening Access Holdings’ Pan-African Reach
Furthermore, In 2024, Access Holdings has pursued an aggressive expansion strategy, acquiring stakes in Finance Trust Bank (Uganda), National Bank of Kenya, and African Banking Corporation of Tanzania. Meanwhile, These acquisitions reflect Access Holdings’ commitment to a unified Pan-African banking presence and its rapid scaling across high-growth markets in Africa.
With this acquisition of Afrasia Bank, Access Holdings not only broadens its Pan-African footprint but also reinforces its leadership as Nigeria’s largest financial services provider by assets. Also, This milestone furthers the group’s pursuit of excellence in regional financial integration and support for African businesses across the continent.
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