Access Holdings has injected $300 million in new investment into its flagship subsidiary, Access Bank to supplement the capital needs of its African expansion strategy.
The investment which has been approved by the Central Bank of Nigeria (CBN, according to Sunday Ekwochi, the company secretary, is a capstone initiative from the $500 million Additional Tier-1 capital raised by the bank in 2021 to advance its vision of the World’s Most Respected African Bank.
The investment is expected to improve the bank’s shareholders’ fund and total capital ratios
Over the years, the bank has made significant strides toward attaining a strong market presence in key trade and payment corridors across the African continent.
Access Holdings’ group chief executive officer, Herbert Wigwe said the bank is a leading financial institution that remains foresighted in its approach to growth and capitalisation needs.
“Access Holdings benefits from this non-dilutive approach to raising growth capital as we continue to invest in initiatives geared towards the delivery of our vision of building a globally connected community and ecosystem inspired by Africa for the world through disciplined growth and diversification’.