Access Bank Plc (“Access Bank” or ‘’the Bank’’) announces today that it has received the Central Bank of Nigeria’s Approval-In-Principle for the Bank’s transition to a holding company (“HoldCo”) structure. The proposed HoldCo structure would enable the Bank to further accelerate its objectives around business diversification, improved operational efficiencies, talent retention as well as robust governance. Further details regarding the HoldCo structure will be communicated to the market in due course.
Access Bank also announces definitive agreements to bolster its market position in Mozambique and enter the South African market. This follows the recent transaction with Cavmont Bank in Zambia and further embeds the Bank’s presence in the SADC region, one of Africa’s most important trading blocs.