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Access Holdings acquires Megatech Insurance Brokers Limited

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Access Corporation reported N612.4 billion profits, up 300% YoY.

Access Holdings acquires Megatech Insurance Brokers Limited

 

Access Holdings Plc has announced the acquisition of Megatech Insurance Brokers Limited, an insurance brokerage company licensed and regulated by the National Insurance Commission.

The Group stated this in a notice to the investing public and the Nigerian Exchange Limited.

According to the statement signed by Sunday Ekwochi, the Company Secretary the group said:

Access Holdings Plc is pleased to inform the investing public and the Nigerian Exchange Limited that it has obtained all required regulatory approvals for the acquisition of Megatech Insurance Brokers Limited, an insurance brokerage company licensed and regulated by the National Insurance Commission.
The group noted that the acquisition of the Company complements Access Holdings’ bouquet of product offerings in pursuit of its vision of building a globally connected community of ecosystems inspired by Africa for the world.

It added that Megatech will strive to create a world where risk is efficiently managed so that we can confidently seek and seize growth opportunities.

Commenting on the acquisition, Dr. Herbert Wigwe, Group Chief Executive Officer, Access Holdings said:

“This acquisition is a natural step in our evolution as a globally connected community and ecosystem and aligns with our mission to build and sustain one global platform, open for anyone to join where people can be connected to exceptional opportunities.
The Company will design and provide intelligent solutions that mitigate the unique risks faced by individuals and businesses in an ever-changing world using leading risk management tools and governance standards.’’
What you should know:
Nairametrics reported recently that Access Bank Zambia Limited (Access Bank) announced that it has completed its acquisition of African Banking Corporation Zambia Limited, trading as Atlas Mara Zambia (Atlas Mara) after obtaining all requisite regulatory approvals.

According to a statement from the bank, Atlas Mara is now a wholly-owned subsidiary of Access Bank Zambia. Following these regulatory approvals, the two banks will continue to operate separately until all integration-related processes are finalized.

Once the merger is complete, the combined entities will become one of Zambia’s top five banks by revenue with prospects to be in the top three by 2027.

What Access Bank said:
Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc said:

“This marks a significant milestone for Access Bank Plc as we work towards achieving our vision of being the world’s most respected African bank.
We are poised for success by harmonizing the robust brands, rich heritage, shared values, and best practices of both companies in creating opportunities that extend to all our stakeholders in Zambia and the SADC region.”
Lishala Situmbeko, CEO of Access Bank Zambia, added:

“We are extremely pleased that this transaction has come to a close. By bringing together these two great businesses, we are creating a stronger, more competitive financial institution that will play a role in delivering on Zambia’s economic recovery.
We look forward to leveraging the operational and cultural strengths of both businesses to benefit all stakeholders. As we continue to finalize the alignment of our products and services, we will ensure that our customers continue to enjoy the benefits of the broader product suite in the future.”

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