Access Holdings Plc, on Thursday announced the start of operations and plans to unlock new opportunities for intra- and inter-Africa trade, Herbert Wigwe, the Group Chief Executive Officer of Access Corporation, said in a statement in Lagos.
He said the corporation, which builds on Access Bank’s scale and ethical standards, would have portfolio companies with significant complementarities.
He said this would allow the ecosystem to walk with customers across their life cycle while delivering value to stakeholders.
Wigwe said: “Many of you would have heard us talk about Access Corporation earlier this year. This natural evolution of our company will ensure that we continue to use digital tools and our partnership with Fintechs to support our customers’ lifestyles outside of the banking system.
“We have set our sights on and delivered ambitious plans to transform the African financial services sector over the last 20 years.
“Until now, we have concentrated on banking, with the goal of becoming the world’s most respected African bank.
“Our banking subsidiary is now Nigeria’s largest bank by assets and Africa’s largest in terms of customer base.”
Wigwe said the corporation would comprise of verticals cutting across banking, payments, consumer lending, insurance brokerage and asset management.
He noted that Access Bank Group would continue to operate in Nigeria and through its subsidiaries and business offices in Africa, Europe, and Asia.
Wigwe said: “These businesses, when combined, will position Access Corporation to provide banking services.
“These services include intra- and inter-Africa trade, consumer lending, payments services, and insurance services to our customers, thereby improving wealth diversification.
He said that in five years, Access Corporation would be a leading financial and ecosystem player, with services spanning B2B services, health, housing and digital.
Others include mobility content, mobility, core banking offerings, and other financial services such as insurance and wealth management.
“The corporation will be a driving force in the on-going digital revolution to the benefit of our stakeholders.
“This transition will allow us to offer more career development opportunities across portfolio companies for our employees, allowing us to attract and retain the best talent in an increasingly global marketplace.
“We will unlock more values for our customers by focusing on distinct business opportunities with high growth rates globally, such as payments and consumer lending,” Wigwe said.