‘Buy Up And Merge’: Access Bank’s Turnaround Expertise Leads It To Become Africa’s Largest Bank By Customer Base
The Oasis Reporters
April 13, 2023
@Theoasisreport1
@gregabolo
With it’s total assets worth $28.8 billion, Access Bank assumes the enviable position of being Africa’s largest bank by customer base. It has 42 million customers at over 600 branches in Nigeria, The Gambia, Kenya, Rwanda, Sierra Leone, Zambia, UK, Kenya, Mozambique, Burundi, South Africa, DR Congo and Ghana.
Access Bank, Africa's largest bank by customer base, has 42 million customers at over 600 branches in Nigeria, The Gambia, Kenya, Rwanda, Sierra Leone, Zambia, UK, Kenya, Mozambique, Burundi, South Africa, DR Congo and Ghana.
— Africa Facts Zone (@AfricaFactsZone) June 9, 2022
Its total assets are worth $28.8 billion. pic.twitter.com/DZE4dtmOgl
Atlas Mara has sold its operations in Botswana to Access Bank of Nigeria. This sales undertaking happened a few months ago.
Atlas Mara also sold its banks in Rwanda, Mozambique, Tanzania and Zambia to Equity Bank of Kenya.
2/4. Atlas Mara sold its operations in Botswana to Access Bank of Nigeria a few months ago. It also sold its banks in Rwanda, Mozambique, Tanzania and Zambia to Equity Bank of Kenya. pic.twitter.com/AWyQvxjZGC
— mmatigari (@matigary) February 26, 2023
Access Bank PLC is one of the top Tier-1 banks making Nigeria proud on the global pedestal and raising the profile of the country on the African continent.
On September 15, 2019, The Oasis Reporters published a report titled
‘The Banks In Nigeria Are Owned By Black Nigerians’, RSA’s Julius Malema Pays Tribute To Nigerian Ingenuity.
Julius Malema is the Commander – in – Chief of Economic Freedom Fighters [EFF] political party, and a Revolutionary activist for radical change in Africa. Watch the video below and understand the awe and admiration in his voice when he describes Nigeria.
Listen to South Africa's @Julius_S_Malema and learn about WHO and WHAT Nigerians are! In terms of speaking truth to power and courage he reminds me of @MaziNnamdiKanu and @realffk. The future of Africa belongs to US! Whether the system likes it or not WE shall rise! HEAR HIM… pic.twitter.com/IUwDwUZWyZ
— Femi Fani-Kayode (@realFFK) September 15, 2019
Being South African, he admires the go- getting guts of Nigerians, a people who thrive despite several odds. He may have missed the point that practically over 90% of Nigerians are “black”.
His home country, South Africa is a beautiful rainbow nation because of it’s history which has made it colourful, with infrastructure that make Nigerians drool and wish for.
Still, Nigerians show great resilience.
Mention Access Bank Plc anywhere in Nigeria, the brand recognition is evident. Buying up other banks to join it shows deep study. They would have quickly noticed and understood why the clients are offering themselves for sale.
If it is a failure of robust corporate governance, discipline or whatever else, Access Bank Plc has shown how savvy it is when it comes to turnaround expertise. This is what they bring to bear when they acquire a bank abroad. Shortly afterwards, they rise into profits, adding to the 30% profits they project from external operations into the group’s profits as one of Nigeria’s leading banks.
Written by Greg Abolo
gregabolo@gmail.com
