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Access Holdings, a pan-African financial services conglomerate led by Nigerian multimillionaire banking mogul Herbert Wigwe, is gearing up to launch its French unit this month as part of its continuing expansion efforts to create a highly diversified entity.
According to reports from AfricaIntelligence, the group is set to open an office in Paris on May 11, marking a new milestone in its deployment strategy in French-speaking Africa.
The move aligns with Access Holdings’ efforts to diversify its revenue and strengthen its earnings base as it continues to expand its reach in Europe and consolidate its existing operations outside of Africa.
After Access Holdings announced its plan to establish a new unit in France and integrate its European operations, Wigwe has met with Emmanuelle Blatmann, the ambassador of France to Nigeria, twice this year to promote cultural exchange and collaboration between Nigeria and France.
This partnership between Access Holdings and the French government is expected to foster mutual benefits and enhance trade and investment opportunities between the two nations.
With its status as a top financial services provider in Africa, Access Holdings’ expansion into the European market is anticipated to bolster its reputation and reinforce its position as a significant player in the African financial services industry.
As part of the move to deepen its operation in the financial services industry, the Wigwe-led group launched its 2023–2027 corporate strategy, which aims to serve 100 million retail customers by 2027.
The Lagos-based tier-1 bank intends to accomplish this objective by utilizing its well-established presence in key trade and financial centers globally, such as London, Dubai, Hong Kong, Lebanon, Beijing, and Mumbai.
It also aims to boost intra-African trade by establishing a subsidiary and forming strategic partnerships with development finance institutions.
