Access Holdings Plc says it has started operations with initial portfolio companies.
The firm said its future strategy would promote intra and inter African trade.
It said in a statement that the corporation, which builds on Access Bank’s scale and ethical standards, would have portfolio companies with significant complementarities to create opportunities for customers across their life cycle and deliver value to stakeholders.
The Group Chief Executive Officer, Access Corporation, Herbert 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.
“It is now time for us to take the next transformative step, where we provide our customers with beyond banking services delivering new interconnected financial services across customers’ needs.”
The statement said the corporation would comprise verticals cutting across banking, payments, consumer lending, insurance brokerage and asset management.
It stated that Access Bank Group would continue to operate in Nigeria and through its subsidiaries and business offices in Africa, Europe, and Asia.
These businesses, when combined, it stated, would position Access Corporation to provide banking services, including intra-and inter-Africa trade, consumer lending, payments services, and insurance services to our customers, thereby improving wealth diversification and preservation.
Looking ahead five years, it stated that Access Corporation would be a leading financial and ecosystem player, with services spanning marketplaces, health, housing, digital, mobility content, mobility, core banking offerings, and other financial services such as insurance and wealth management.
Wigwe said, “We recognise and embrace the change that is currently happening and, as we have previously demonstrated, we will lead. Access Corporation will be a driving force in the ongoing digital revolution to the benefit of our stakeholders.”