Access Bank has declared its ambition to be among the top five banks in Africa within the next five years.
The Chief Executive Officer of Access Bank, Mr. Roosevelt Ogbonna, disclosed this during the presentation of the Access Corporation’s corporate strategy 2023-2027.
He said, the bank targets to raise more capital outside of its internally generated capital to fund its strategic five-year (2023-2027) growth plan.
Ogbonna noted that the corporation needs to work with its DFI partners and international financial markets to achieve the capital raise.
“We’ve done our capital plan. We’ve shared that capital plan with the central bank, but we cannot share it in an open forum like this. But I can give context and I can give colour as to what exactly it is.
“The capital plan suggests that on a go-forward basis, we will need beyond internally generated capital, we will need to work with our Development Finance Institutions (DFI) partners, as well as our international financial markets. To raise both, senior debt, as well as quasi-equity to support our growth.”
