Access Holdings PLC, the parent company of Access Bank, said it anticipated increased profitability, capital efficiency and shareholders’ return as it transits into the next phase of growth while reaffirming its long-term strategic blueprint anchored “on a deliberate and structured progression: scale, optimise, and sustain.”
This roadmap, which has driven the Group’s aggressive expansion across Africa and into key global markets, is now entering a crucial optimisation phase, expected to unlock significant value for stakeholders as the organisation heads toward 2027.
The holdings’ Full Year 2024 financial results demonstrate that the Group’s investments are already yielding meaningful outcomes.
Gross earnings rose to N4.878 trillion from N2.594 trillion in 2023, while profit before tax increased by 19% to N867.0 billion. Total assets surged by 55.5% to N41.498 trillion, reinforcing Access Holdings’ position as one of Africa’s most formidable financial services institutions.
Speaking on the strategy according to a statement from the bank yesterday, Acting Group Chief Executive Officer, Bolaji Agbede, said: “Our approach has always been clear: scale first through strategic expansion, then optimise through consolidation, synergy realisation, and operational efficiency. During the scale-up phase, a considerable amount of funding is required to drive investments in people, systems, infrastructure, and acquisitions.
“But as we move deeper into the optimisation phase, we will begin to see the full benefits manifest, especially in terms of profitability, capital efficiency, and shareholder returns.”
Access Holdings’ five-year strategic plan, which runs through to 2027, also places financial inclusion and impact at the core of its growth agenda.
According to the bank, by expanding digital access and scaling low-cost delivery platforms, the Group aims to onboard millions of previously unbanked and underserved individuals and MSMEs across Africa into the formal financial system.
Access Holdings has continued to deepen its footprint across more than 20 markets, including key subsidiaries in the UK, France, South Africa, and major trade corridors in Asia and the Middle East.
These strategic investments, although capital intensive, are already contributing to a more diversified earnings base and positioning the Group as a global player from Africa.
The group said as it transitions into the optimisation phase, its focus will shift to streamlining operations, deepening digital innovation, enhancing customer experience, and improving capital productivity.
A critical part of this phase is leveraging data and technology to improve access, reduce transaction costs, and accelerate financial inclusion, particularly for women, youth, and rural communities.
“We are confident that as we approach 2027, the full impact of our strategic moves will become evident. This is about growing bigger and becoming better, faster, and more resilient,” Agbede added.
