July 23, 2024
Access Holdings completes injection of $300m into Access Bank
– By Godswill Odiong

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By Eyo Nsima
Access Holdings Plc has completed the injection of a US$300 million (Three Hundred Million United States Dollars) capital investment into Access Bank Plc, its major subsidiary.

In a statement obtained by The Daily, https://thedaily-ng.com, Sunday Ekwochi, Company Secretary stated:” Over the years, the Bank has made significant strides towards attaining strong market presence in the key trade and payments corridors across the African continent.

“The Investment takes the form of a Tier 1 capital qualifying Mandatory Convertible Instrument and is expected to improve the Bank’s shareholders’ funds and total capital ratios. The Central Bank of Nigeria has approved the Investment.”
Commenting on the development, Dr. Herbert Wigwe, Group Chief Executive of Access Holdings, stated: “As a leading financial institution in the continent, we remain foresighted in our approach to our growth and capitalization needs.
“This investment is a capstone initiative following the US$500 million additional Tier 1 capital raised by the Bank in 2021 and advances its vision to be the World’s Most Respected African Bank. Access Holdings benefits from this non-dilutive approach to raising growth capital as we continue to invest in initiatives geared towards delivering our vision of building a globally connected community and ecosystem inspired by Africa for the World through disciplined growth and diversification.”

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