KEY POINTS
- Access Holdings capital plan targets N40 billion.
- The capital move supports regulatory compliance.
- Investors will vote on the Access Holdings capital plan.
Access Holdings Plc will ask shareholders to approve a N40 billion private placement as the group moves to reinforce its capital position.
The proposal appeared in a filing on the Nigerian Exchange on Thursday, setting the stage for a virtual extraordinary meeting to vote on the deal.
Access Holdings capital plan targets share expansion
The planned capital raise follows the group’s December 2024 fundraising, which delivered N351.01 billion. That earlier move pushed Access Bank ahead of the Central Bank’s new N500 billion minimum capital rule for global banks. The regulation takes effect in March 2026.
Access Holdings said it is seeking approval, in line with corporate law and market rules, to raise as much as N40 billion or its foreign-currency equivalent. The initiative includes a share-capital increase through the creation of new ordinary shares, which will rank equally with existing stock.
The group plans to allot the new shares at N20.25 each, or at a price later set by the board. The proposed offer sits just below the N21 closing price recorded on Thursday.
Market strategy supports growth momentum
Access Holdings runs operations from Lagos and serves more than 60 million customers across 20 countries. Aigboje Aig-Imoukhuede, who returned to the top job in 2024, has emphasized capital discipline, digital expansion and stable earnings. His return sharpened the group’s focus on funding strength and risk oversight.
The group posted mixed first-half 2025 results. Gross earnings climbed 13.8 percent to N2.49 trillion, supported by loan growth and stronger fees. After taxes, profit fell 23.3 percent to N215.9 billion since costs went up and foreign exchange gains went down.
According to Billionaires Africa, Access Holdings also gave shares to 689 employees as part of its long-term incentive plan to keep its best workers. The IFC also approved a $10 million loan program in September to help small businesses in Sierra Leone, focusing on women-owned businesses and borrowers who don’t get enough help.
