Access Bank plans dollar-denominated securities sale to fuel expansion, targets entry into U.S. market by 2026

Oluwatosin Racheal Alabi -
Key Points
  • Access Bank plans to issue dollar-denominated securities to fund its African and global expansion, targeting Development Financial Institutions (DFIs).
  • The bank aims to enter the U.S. market by 2026 and recently opened a representative office in Hong Kong.
  • Access Bank’s “aggregator strategy” aims to secure top market positions across 19 African countries by 2027.

Access Bank, the flagship subsidiary of Access Holding, is preparing to issue dollar-denominated securities to fund its expansion across Africa and other strategic global markets. The move aligns with the ambitions of Managing Director Roosevelt Ogbonna, who aims to position Access Bank as a key player on the continent as international banks scale down their African presence.

This dollar securities issuance, expected to occur in two tranches, will target Development Financial Institutions (DFIs) and the open market. Although Ogbonna did not disclose the total fundraising goal, he highlighted the strong demand shown by Nigeria's recent Domestic FGN US Dollar Bond, which raised over $900 million since August, as a promising sign for Access Bank’s issuance.

Targeting expansion in global markets

Access Bank’s strategy includes a planned entry into the U.S. market by the first quarter of 2026. Already present in London and Paris, the bank’s UK unit will open a representative office in Hong Kong as of October 30, bolstering its international footprint. This expansion, Ogbonna noted, aligns with Access Bank’s commitment to becoming a prominent player beyond Africa, establishing a foothold in global financial hubs.

“With international banks pulling back, there is a significant opportunity for locally-rooted banks to step up. Access Bank intends to leverage the African Continental Free Trade Area (AfCFTA) to lead both in African and international markets,” Ogbonna stated, reaffirming the bank’s dedication to African economic integration and growth.

Focus on sustainable market presence and growth

In Africa, Access Bank is working toward establishing a presence in 19 markets by 2027, aiming to rank in the top three in at least eight markets and within the top five in eleven. This "aggregator strategy" demonstrates Access Bank’s commitment to building a competitive local presence across its target regions. The bank focuses on markets with stable legal frameworks to ensure sustainable, long-term growth and effective risk management. Supported by strong demand from DFIs for dollar-denominated securities, Access Bank is positioned for a new phase of growth that aligns with regional and global trends, reinforcing its strategic role in the evolving African financial landscape.