Access Bank to expand to 22 countries in 5 years

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Access Bank Plc has reiterated its plan to be Africa’s gateway to the world as it aims to expand into 22 countries over the next five years.

Herbert Wigwe, group managing director, disclosed this in a recent interview with Bloomberg. He discussed the Bank’s scope for expansion in Africa as a diversified retail bank, as well as its plan to provide cutting-edge digital payment solutions across the continent.

“We want to have subsidiaries across 22 countries over the next five years, with strategic plans to be present in the major trade corridors in the African continent. Building on our successful expansion into Kenya, we will also be making entries into Angola and Mozambique.”

“At the moment, Access Bank does not have a presence in the Francophone region of Africa, and we will be working to see that this is changed in the coming years. By 2023, Access Bank will have consolidated its position as Africa’s gateway to the world with about 100 million customers in Nigeria and an additional 20 million customers across our African subsidiaries,” Wigwe said.

Wigwe attributed his growth projection to the Bank’s innovative payments solution, saying that “Access Bank is set to revolutionize the payment and banking landscape in Africa. We would soon be introducing a new payment system that would allow users enjoy a secure, seamless and convenient service when making payments at Merchant locations without cash or card.

When launched, the system would help Access Bank’s drive towards bridging financial literacy gaps in Nigeria and indeed Africa, as the elderly or underserved individuals who cannot cope with the complexities of internet banking and mobile applications will be able to transact with ease.

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