Access Holding Plans N365bn Capital Raise with Emphasis on Tech Adoption
Access Holdings, the parent company of Nigeria's largest bank, Access Bank, has announced its intention to conduct a fully digital N365bn rights issue to bolster its capital base and support future growth initiatives in the financial sector. The company aims to raise funds through equity, quasi-equity, and debt issuances, with a target of up to $1.5bn in total capital.
At the second Annual General Meeting of the Holdco, chairman Aigboje Aig-Imoukhuede highlighted the significant role of digital technology in the upcoming capital-raising exercise.
Aig-Imoukhuede emphasized the transformative impact of digital technology on the bank's fundraising strategy, citing the shift towards a more accessible and efficient process for shareholders. He noted the evolution fro...