The Oasis Reporters
September 29, 2023
When the CEO of Access Holdings, Herbert Wigwe gets the oportunidade (opportunity) and decides to pay a visit to Access Bank Mozambique, é um membro do Grupo Access Bank PLC for a celebramos ( celebration) in the República de Moçambique ( Republic of Mozambique), he will be welcomed with ‘hola (hello), boa dia (good morning) or boa tarde, (good afternoon). Como esta? (How are you?), Obrigado (thank you). The official language in the southern African country is Portuguese.
The orator at the welcome occasion would start by reeling off the awards garnered by the bank thus:
O Access Bank Mozambique foi premiado pelo Internacional Finance Award nas categorias Best Digital Bank Mozambique 2021 e Best Acquisition Bank Mozambique 2021.
Translated into English:
Best Acquisition Bank – International Finance
Best Digital Bank – International Finance
Best Acquisition Bank – Global Brands
Best Digital Bank – Global Brands
CEO Awards Forum- Gender Leader of the year; World Finance Award for Best Digital Bank in Nigeria; World Finance Award for Best Mobile App in Nigeria.
Access Holdings Plc saw something in the economy of Mozambique, a country that fought a bitter civil war to assert it’s freedom and it’s democracy for several decades with a destroyed economy that they are trying to rebuild.
Hence the holdings firm moved in to acquire Atlas Mara sold its operations in Botswana to Access Bank of Nigeria. It also sold its banks in Rwanda, Mozambique, Tanzania and Zambia to Equity Bank of Kenya.
Mozambique has a Market Capitalization that accounted for 2.803 USD bn in Aug 2023, compared with a percentage of 2.787 USD bn in the previous month.
In 2021, Mozambique’s Market Capitalization accounted for 12.2% of it’s Nominal GDP as at December of that year. Compared to 12.6% in 2020.
Mozambique’s trajectory of growth seems steadily growing, a good sign that brought about confidence which enabled Access Holdings to throttle acquisitions and gain a foothold in an economy that is rising from it’s frontiers pedestal into one with big arms and ready to leap forward.