Access Holdings PLC has completed its acquisition of Standard Chartered Bank subsidiaries in Angola and Sierra Leone, as part of a strategic expansion initiative. CEO Roosevelt Ogbonna highlights the growth potential in corporate and SME banking sectors. Further transactions are anticipated, targeting additional regions within Africa.
Access Holdings PLC has announced the successful completion of its acquisition of Standard Chartered Bank Angola S.A. and Standard Chartered Bank (Sierra Leone) Limited. This significant merger was disclosed following the prior announcement made on July 14, 2023. The Chief Executive Officer of Access Bank PLC, Roosevelt Ogbonna, emphasized that these acquisitions would enhance the Bank’s operations in both markets by facilitating growth in corporate and small to medium-sized enterprises (SME) banking, ultimately contributing to the Bank’s broader vision to establish itself as a leading and respected banking institution in Africa.
Access Bank’s strategic acquisitions of Standard Chartered’s operations in Angola and Sierra Leone are pivotal steps in expanding its footprint in key African markets. This move not only broadens Access Bank’s market share but also strengthens its competitive position in the corporate and SME sectors of these nations. The acquisitions signify Access Bank’s commitment to enhancing its service delivery and financial product offerings, thus aligning with its ambition of becoming the world’s most respected African bank.
The successful acquisition of Standard Chartered Bank’s entities in Angola and Sierra Leone positions Access Bank for greater growth and profitability in these regions. As it enhances its operational capabilities, Access Bank is also poised to make further strategic moves, including pending acquisitions in other African markets. This advancement underscores Access Holdings’ ongoing commitment to expanding its influence and presence across the continent.
Original Source: championnews.com.ng
