In a bid to remain Nigeria’s biggest lender by assets, Access Holdings have revealed its plans to reach 100 million customers for its retail business and also expand its operations into part of Europe and Asia by 2027.
Access Holdings made the revelations in its document, a five-year strategy document from 2023 to 2027 posted on the Nigerian Exchange’s website.
In the document, the Holdings intends to migrate the majority of its customers to digital platforms by 2027, and expand its presence in at least 26 countries like Malta, Dubai (UAE), Lebanon, China and Mumbai (India) and in at least three organisations for Economic Co-operation and Development (OECD) countries supporting trade (United Kingdom, France & United States of America).
“Our primary focus on trade is to leverage established presence across trade and financial hubs across the world to continue driving trade outputs. Presence in London, Dubai, Hong Kong, Lebanon, Beijing, Mumbai etc. and extensive footprint across the continent,”
The document read that “The institution has transitioned to a Holdco with five verticals to capture the opportunities the African market. Access has positioned itself to be at the centre of financial flows on the continent – trade, expanding and deepening financial services and serving corporates with excellence – creating a self- sustaining ecosystem.”
“Access Corporation’s ambitions will be supported by seven key enablers. These enablers will ensure Access executes seamlessly, becoming a top five financial services institution in the continent by the end of the strategic cycle in terms of revenues, asset base and on a balanced scorecard basis.
“Access will create a high-performance organisation with a strong bench of talent who are the best African leaders with capabilities to deliver the corporation’s future aspirations,” the document revealed.
The document also revealed that Access Holdings plan to support intra-Africa trade by launching a subsidiary, Hydrogen and partner with development finance institutions that will focus on two main customer groups: financial institutions and merchants/SMEs, offering products across three main business lines: card servicing, merchant payment solutions, and switching and direct card routing.
Investors King reported recently that Access Holding withdrew from the acquisition of Kenyan Bank – Sidian Bank Limted in a deal that would have seen Access Holding control 83.4 percent of the bank’s shares.
Access Holdings, a Nigerian financial services group and the parent company for Access Bank is headed by billionaire, Herbert Wigwe and is currently operating in countries like South Africa, Ghana, Kenya, Nigeria, Rwanda, and Mozambique.