Access Holdings expands footprint with acquisition of Megatech Insurance Brokers

Cynthia Ezekwe

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

In a statement released on the Nigerian Exchange Group (NGX) and signed by Sunday Ekwochi, the company secretary of Access Holdings, the company confirmed that it has obtained all the necessary regulatory approvals for the acquisition of Megatech. The statement also noted that the acquisition is in line with Access Holdings’ strategy to expand its footprint in the financial services industry. 

Access Holdings said the acquisition of Megatech will complement its existing products and services, and is part of its vision to build a globally connected community of ecosystems inspired by Africa for the world. With this acquisition, Megatech will strive to create a world where risk is efficiently managed, enabling people and businesses to confidently seek and seize opportunities for growth. 

Herbert Wigwe, the group chief executive officer of Access Holdings, described the acquisition of Megatech as a “natural step” in the company’s evolution as a globally connected community and ecosystem. He noted that the acquisition aligns with Access Holdings’ 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 business in an ever-changing world using leading risk management tools and governance standards,’’ he added.