Access Holdings to raise $1.8bn ahead of Nigerian banks’ recapitalisation
- Access Holdings plans to raise $1.5 billion and $287 million to fund its growth plans and meet the new capital requirement by the Central Bank of Nigeria.
- The central bank increased the minimum capital requirement to $364.56 million by March 31, 2026.
- Access Bank needs to raise an additional $187.8 million to meet the new requirements.
Access Holdings' plan to raise funds through a bond or share sale and a rights issue demonstrates its commitment to growth and meeting regulatory requirements. The acquisition of Kenya's National Bank of Kenya further strengthens its expansion strategy in Africa. With operations in 15 African countries, Access Bank is well-positioned to achieve its goal of becoming the largest bank on the continent by 2027.
