Lagos, July 25, 2025 – Access Bank Plc has acquired a controlling 76% equity stake in AfrAsia Bank, a leading financial institution headquartered in Mauritius, marking a significant stride in its international expansion strategy.
The landmark acquisition is part of Access Bank’s broader ambition to strengthen its footprint across key global financial markets, particularly within Africa and strategic offshore locations. With this move, the Nigerian banking giant reinforces its commitment to becoming Africa’s gateway to the world.
Confirming the deal, Group Managing Director of Access Bank, Roosevelt Ogbonna, said the transaction aligns with the bank’s five-year strategic growth plan. He described AfrAsia Bank as a solid, high-performing institution with strong ties to Asia, Europe, and Africa — regions the bank aims to leverage for cross-border banking opportunities.
“This acquisition is a game-changer. It provides us with a platform to serve international clients better while offering our African customers broader access to global banking solutions,” Ogbonna stated.
Industry analysts view the development as a major boost to Nigeria’s banking sector competitiveness, with Access Bank positioning itself among Africa’s top international financial institutions. AfrAsia Bank’s existing network in wealth management, private banking, and offshore finance is expected to complement Access Bank’s robust retail and corporate banking strength.
The acquisition, subject to final regulatory approvals in both Nigeria and Mauritius, is expected to be completed before the end of Q3 2025. Once finalized, Access Bank plans to integrate AfrAsia’s operations while retaining its brand identity and local expertise.
Access Bank’s expansion into Mauritius follows similar strategic moves in the United Kingdom, South Africa, and France, reinforcing its reputation as one of Africa’s most globally connected banks.
