Access Holdings obtains the operating license in France


The group’s managing director, Access Holdings Plc, Herbert Wigwe, has revealed that the group obtained the approval license to start operations in France last week.

Wigwe, who made this statement at a statutory meeting of Access Holdings shareholders in Lagos, also noted that the holding company in its bid to become Africa’s gateway to the world is ready to launch a new company called Hydrogen.

What hydrogen will do: He noted that by launching the subsidiary, Access Holdings would support trade within Africa, adding that in partnership with some DFIs, Hydrogen would be responsible for payment across the continent.

  • “We shared with you the fact that we wanted to be known as Africa’s gateway to the world and what that meant was that we will be responsible for payments across the continent, regardless of where you are and where you are transferring money. of. We are going to support intra-African trade, which is a big problem today.”
  • “The bank can’t do this just because these are very specialized skills and will allow us to ensure that there are deals even in countries where we don’t have a physical presence. The idea is that wherever you are in the world, if you’re making a transfer to anyone across the continent, one in three transactions coming into the continent will be settled on the Access Bank platform.Wigwe said.

However, he assured shareholders that while the deal would generate commissions and fees, it would not create significant credit risk.

  • “Obviously they have operational risk, but we have a robust compliance process and technology platform, which we will enhance to ensure operational risks are significantly mitigated.” He noticed.

Other subsidiaries: Speaking further, GMD said that plans are underway for the establishment of more subsidiaries, including youth-targeted insurance brokerage loan platforms, among others.

He assured shareholders that the corporation would increase its profit base as it continues to spread its tentacles across the continent.

  • “We will continue to spread out across Europe to make sure that at the end of the day, maybe ten years from now, we will have built a very strong diversified entity, not just relying on Nigeria or Africa, but also with a broad diversified revenue base. with good quality earnings coming from countries where inflation rates are lower than the country’s, which makes us a much stronger franchise than any other financial institution on the continent.” Wigwe said.

legal report: Meanwhile, the shareholders in the meeting unanimously approved the statutory report of the Holdings in compliance with the provisions of article 235 of the Law on Companies and Related Matters (CAMA).

Pursuant to the resolution passed at the bank’s Ordered General Meeting held on December 16, 2021, during which the bank’s shareholders approved the Scheme of Arrangement, Access Corporation has divided its shares into 35,545,225,622 common shares of 50 Kobo each.

… Access Holdings obtains the operating license in France Read more at … Naijaonpoint.




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