Nigeria’s Access Bank consolidates pan-African ambition with acquisition of Kenyan bank

Looking for job? your search ends here! Visit  to apply now OR Send us a WhatsApp Message here!

how to apply for access bank plc graduate and exp job recruitment

Nigeria’s Access Bank consolidates pan-African ambition with acquisition of Kenyan bank – The Central Bank of Kenya (CBK) has granted Access Bank, one of Nigeria’s largest banks, approval to acquire Kenyan lender, Transnational Bank, a development which will further consolidate the Nigerian lender as a pan-African bank.

Access Bank CEO, Herbert Wigwe marks Father’s Day
Herbert Wigwe, Access Bank MD

According to Bloomberg News, CBK approved the planned takeover on Friday, October 25th, 2019, as part of an effort to consolidate the nation’s banking industry.


When completed, the deal will see Access Bank taking over 93.57% of the bank’s assets.

Transnational Bank is one of Kenya’s tier-4 banks and posted 58% jumped in non-performing loans to ($17.85 million) 1.85 billion Kenyan Shillings last year from Kshs. 1.17 billion.

In 2018, Transnational Bank posted a loss of $693,904, about 71.8 million Kenyan Shillings, according to its financial statement seen by Business Insider SA.

With this move, Access Bank may be capitalising on Transnational Bank’s interest in the agricultural sector. The acquisition will further cement its pan-African strategise by moving into East Africa’s largest economy.

In April 2019, Access Bank also completed a merger scheme with Diamond Bank in Nigeria. The arrangement saw Diamond Bank transferring all its assets, liabilities, and undertakings to Access Bank.

Herbert Wigwe, CEO of Access Bank, had said that the bank is pushing ahead to create Africa’s biggest retail institution and a formidable global powerhouse.

1 Comment
Oldest Most Voted
Inline Feedbacks
View all comments
Elizabeth Tina
Elizabeth Tina
April 24, 2020 3:19 PM

*GOOD DAY MA/SIR* Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration LAVITA PACKAGES ₦10,000——–₦20,000 ₦20,000——–₦40,000 ₦40,000——–₦80,000 ₦50,000——–₦100,000 ₦100,000——₦200,000 ₦200,000——₦400,000 ₦400,000——₦800,000 ₦800,000——₦1,600,000 ₦1,000,000—₦2,000,000 NOTE: we credit your account after 45min after registeration. INTRODUCTION Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for… Read more »