Access Holdings Shareholders Approve N46.2bn Final Dividend

The shareholders of Access Holdings Plc, yesterday, approved the management’s N46.209 billion final dividend payout for the year ended December 31, 2022.

They gave their approval at the Pan-African financial institution’s first annual general meeting (AGM) held yesterday in Lagos. Also, the financial institution paid an interim dividend of 20 kobo per ordinary share paid at mid-year.

Speaking at the meeting, president, Pragmatic Shareholders Association, Mrs. Bisi Bakare commended the management for growing gross earnings above the N1 trillion mark and maintaining dividend payout, stressing on the Group’s expansion in total assets.

She acknowledged decline in cost-to-income ratio to 57.9 per cent in 2022 from 58.8 per cent in 2021 amid macroeconomy challenges, urging the management to maintain effective management over rising inflation rate. 

Speaking, the group chairman, Access Holdings, Bababode Osunkoya said, 2022 was a year of unprecedented challenges for Access Holdings and for society more broadly.

According to him, as a company, we continued to demonstrate our resilience, our ability and commitment to support customers, clients, and wider stakeholders in ever changing economic conditions.

“In January 2023, we began the implementation of another five-year strategy which we shared with the investment community and stakeholders. A key aspect of our intent over the next five years is to become a top-five financial services provider in Africa by 2027.

“We will build a large, diversified company, by consolidating our wholesale franchise and embedding ourselves firmly in the retail market. This strategy will be digitally led, customer-focused and supported by various collaborations with reputable fintech companies, to deliver a deeply entrenched retail footprint and payment business.

“This will all be supported with strong technological infrastructure and robust risk management framework.”

He explained further that the focal point of the group’s 2023 to 2027 strategy is creating a globally connected community and ecosystem, inspired by Africa for the world.

“This will be the propelling driver as we aim to become one of the top five financial services provider by 2027. Access Holdings will play a pivotal role in optimising and orchestrating all the activities of the ecosystem as well as mitigating the risks coming from all business activities,” Osunkoya added.

The group chief executive, Access Holdings, Dr. Herbert Wigwe said: “as the institution has transitioned to a Holdings Company to capture the opportunities the African market provides, the Company’s ambitions will be supported by seven key enablers (Customer Experience, Digital and Technology, Data and Analytics, Risk, ESG, People and Culture and Brand and Communication).

“These enablers will ensure Access executes seamlessly, to become one of the Top Five financial services institution in the African Continent by the end of the strategic cycle in terms of revenues, asset base and on a balanced scorecard basis.

“The proven success of our business model gives us a strong foundation upon which we can build the best open financial services platform and set new ambitions, which we unveiled at our Investor Day in January 2023.”

He expressed that the Group is positioned to be at the centre of financial flows on the continent; trade, expanding and deepening financial services and serving corporates with excellence, creating a self-sustaining ecosystem.