(Ecofin Agency) - Access Bank, one of the largest banks in Nigeria by customer size, has received the necessary regulatory approvals in Nigeria and South Africa to acquire a significant stake in South African bank Grobank Limited. “Today’s announcement represents significant progress in delivering on our strategic intent of becoming Africa’s Gateway to the World in pursuit of our vision to be the World’s Most Respected African Bank,” said Herbert Wigwe, CEO of Acess Bank. He said his company’s presence in South Africa will undoubtedly accelerate its goal of reaching and impacting 100 million customers across the continent by 2022. Access Bank had entered into an initial agreement in September 2020 with GroCapital Holdings to enter the South African banking market. Access Bank also intends to diversify its earnings by leveraging its African subsidiaries.

Source: The North Africa Journal April 02, 2021 12:33 UTC