Access Holdings Chairman Aigboje Aig-Imoukhuede has announced that the financial group has concluded its major acquisition and expansion phase across Africa. The company is now shifting its focus to improving investor returns and aims to be measured against Africa’s largest bank, Standard Bank.
Strategic Shift After 20 Mergers and Acquisitions
Speaking to journalists after the company’s fourth annual general meeting in Lagos on Wednesday, June 10, 2026, Aig-Imoukhuede stated that the era of major acquisitions is largely over. After completing about 20 mergers and acquisitions between 2002 and 2025, Access Holdings is now prioritizing profitability, efficiency, and shareholder value.
“Our ambition was not for you to see our performance in the lens of Access is a great bank and compare us to GTCO or Zenith. Our ambition was for you to see us as Access is a great bank, compare us to Standard Bank of Africa,” he said.
Targeting Standard Bank’s League
Standard Bank Group is widely regarded as Africa’s largest bank by assets and one of the continent’s most profitable lenders. With operations across more than 20 African countries and a presence in key global financial centers, it has long been the benchmark for scale, profitability, and cross-border banking in Africa. Aig-Imoukhuede believes Access Holdings has now reached a level where it can compete with such institutions.
Two Decades of Acquisition-Driven Growth
Access Holdings’ rise has been powered by acquisitions and mergers over the past two decades. Since taking charge of Access Bank in 2002, Aig-Imoukhuede, alongside the late Herbert Wigwe, led an aggressive expansion strategy that reshaped the bank’s footprint across Africa. Major milestones included the acquisition of Intercontinental Bank, the merger with Diamond Bank in 2019, and several expansion deals that established Access Bank in markets such as Kenya, Botswana, and South Africa.
According to the group, about 20 mergers and acquisitions were completed between 2002 and 2025, transforming Access from a relatively small Nigerian lender into a leading pan-African financial institution.
Focus on Investor Returns
With the expansion phase largely completed, Access Holdings plans to focus on key performance indicators that matter most to investors, including return on equity, earnings per share, and cost of risk. While Nigeria remains its biggest market, Access Holdings’ subsidiaries across Africa are contributing an increasing share of earnings, suggesting that the benefits of its long-term continental growth strategy are beginning to pay off.
