August 6, 2024/FSDH Research

FSDH Capital Limited is pleased to inform you that the Access Holdings Plc (“Access Holdings” or “Access Corporation” or “the Corporation”) Rights Issue of 17,772,612,811 ordinary shares of 50 kobo each at N19.75 per share on the basis of 1 new ordinary share for every 2 existing shares held as at the close of business on Friday June 7, 2024 is STILL OPEN. 

The Offer is scheduled to close on Wednesday, August 14, 2024.

Access Holdings Plc (“the Corporation”) is the leading bank-led multi-national financial services holding company in Nigeria that offers commercial banking, asset management, payments, consumer lending, payments, and insurance brokerage. The Corporation comprises a portfolio of five operating companies – Access Bank, Access Pensions, Hydrogen Payment Services Company, Oxygen and Access Insurance Brokers – and operates through a network of more than 700 branches and service outlets, spanning 3 continents, 22 countries, 3 representative offices, serving c.60 million customers.

• Access Bank is the commercial banking arm and anchor vertical of the Corporation and is the largest bank in Nigeria by total assets and in Africa by total number of customers.  It offers its banking services throughout Nigeria, and across its 14 subsidiaries in Africa, as well as in the UK, Europe, and Asia.  
• Access Pensions is the asset management vertical and is the second largest pension fund administrator (PFA) in Nigeria by assets under management (AUMs) and retirement savings accounts (RSAs). The PFA has circa N3 trillion* in AUMs and over 2 million* RSAs.
• Hydrogen Payment Services Company is a financial technology (fin-tech) platform that offers payment and switching services driving domestic, regional and global payments. Hydrogen as a fin-tech has processed over N11 trillion in transactions in 2023 alone. Hydrogen’s product offerings are strategically positioned to drive financial inclusion and aid the growth of SMEs.
• Oxygen X Finance Company is a CBN licensed digital consumer lending business serving individuals and SMEs.
• Access Insurance Brokers is an insurance intermediation platform for Life and General Insurance including health and employee benefits insurance programs. The company provides professional insurance services for individuals, corporations, and government agencies leveraging the footprint of the banking subsidiary.

Led by a strong management team, the Corporation’s vision is to create a globally connected community and ecosystem, inspired by Africa, for the world. The Corporation is well positioned to become a Top 5 banking group in Africa by 2027. As of December 31, 2023, the Corporation had total assets of N26.68 trillion, of which N8.9 trillion centered on loans and advances, N15.3 trillion in customer deposits, N2.19 trillion in shareholders’ funds, and a capital adequacy ratio of 19.01%. During the same period, it achieved N2.59 trillion in gross earnings and delivered an ROAE of 36.2%.  

* Following the merger with ARM Pensions