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Tag: Standard Chartered Bank

  • Access Bank expands to Angola, Sierra Leone

    Access Bank expands to Angola, Sierra Leone

    Access Bank Plc on Wednesday announced the successful acquisition of Standard Chartered Bank‘s subsidiaries in Angola and Sierra Leone. This strategic move enhances Access Bank’s footprint across Africa and strengthens its position in the corporate and SME banking sectors.

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    Strategic expansion in Africa

    The acquisition aligns with Access Bank’s vision of becoming “the World’s Most Respected African Bank.” Roosevelt Ogbonna, the Managing Director/CEO of Access Bank, stated, “We are pleased to have successfully concluded two important acquisitions in Angola and Sierra Leone, affording us synergies to strengthen the quality of our earnings from both countries.”

    This expansion increases Access Bank’s market share and enhances its ability to meet these regions’ growing demand for financial services.

    Future prospects

    Access Bank is also working on acquiring Standard Chartered’s operations in Cameroon, The Gambia, and its consumer banking business in Tanzania. These efforts reflect Access Bank’s commitment to fostering economic integration and improving African financial accessibility. The bank aims to leverage its new acquisitions to facilitate trade finance and support local businesses in key growth markets, Angola and Sierra Leone.

    This acquisition marks a significant milestone for Access Bank, which continues expanding its operations and influence throughout Africa.

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    About Access Bank 

    Access Bank Plc, established in 1989, is one of Nigeria’s leading multinational commercial banks. Initially focused on corporate banking, it has transformed into a full-service financial institution with a significant presence across Africa. The bank’s growth accelerated under the leadership of Aigboje Aig-Imoukhuede, particularly after its merger with Diamond Bank in 2019, making it the largest bank in Africa by customer base.

    Access Bank operates over 600 branches in multiple countries, including Nigeria, Sierra Leone, and Zambia, and serves over 42 million customers. The bank prioritises innovation, investing in technology to enhance digital banking services. Additionally, Access Bank is committed to corporate social responsibility initiatives that promote sustainable economic development. In 2024, “The Power of 100 Africa” was launched to celebrate women making impactful contributions across various sectors. Access Bank strives for excellence while fostering financial inclusion throughout the continent. 

  • Standard Chartered Bank’s long-standing dedication to supporting Zambia’s energy sector

    Standard Chartered Bank’s long-standing dedication to supporting Zambia’s energy sector

    Standard Chartered Bank is in charge of addressing Zambia’s pressing energy challenges. Emmy Kumwenda, the Head of Banking and Coverage Corporate and Investment Banking at Standard Chartered, recently emphasised the bank’s crucial role in providing extensive support to the energy industry.

    As Zambia’s energy sector grapples with significant challenges, the bank’s commitment is a beacon of hope, driving the search for sustainable solutions.

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    More than a hundred years of providing compassionate support in Zambia

    Standard Chartered Bank has a long and rich history in Zambia, spanning 117 years as the nation’s first bank. This enduring presence is a testament to our strong dedication to enhancing Zambia’s economic and social well-being.

    Kumwenda enthusiastically announced that the bank is making a generous contribution of ZMW 100,000 to the 2024 Energy Forum for Africa. This assistance further strengthens our position as a crucial ally in tackling the nation’s energy challenges.

    Strong and unwavering support for the 2024 Africa Energy Forum

    The Energy Forum for Africa is a crucial platform for stakeholders to come together and discuss the energy situation. We greatly appreciate Standard Chartered’s generous support of this forum, particularly given the current circumstances.

    “Our commitment is unwavering in our efforts to find sustainable solutions for the ongoing energy crisis,” Kumwenda expressed. Her words highlight the bank’s commitment to addressing Zambia’s energy sector practically and sustainably.

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    Embracing new ideas, kindness, and striving for greatness

    Standard Chartered encourages and supports innovation and excellence, going beyond traditional norms. The bank has consistently received recognition for its exceptional performance, earning prestigious awards such as being voted the top Digital Bank in Zambia by Global Finance for eight consecutive years and being named the Best Bank for Sustainable Finance in Africa by Euromoney in 2023.

    These accolades showcase Standard Chartered’s commitment to understanding and fulfilling its clients’ changing requirements with innovative and generous solutions.

    Standard Chartered Bank’s investment in Zambia’s energy industry demonstrates its dedication to supporting the country’s overall progress.

    The bank’s continued support and guidance will play a vital role in helping Zambia overcome its current challenges and build a more sustainable future for everyone. Standard Chartered has a long history in Zambia and has positively impacted the country’s past and future.