Access Holdings shareholders approve N46.2bn  final dividend

By Cynthia Ezekwe 

Access Holdings Plc shareholders have  approved  a final dividend of N46.209 billion declared by the pan-African financial institution for the year ended December 31, 2022.

The shareholders gave the approval at the company’s first annual general meeting (AGM) since its transition into a Holdings Company.

Access noted that the  approved dividend by the  shareholders translated to N1.30 per share, in addition to the interim dividend of 20 kobo interim dividend paid at mid-year, bringing the total dividend to N1.50 per share.

Speaking on behalf of the shareholders, Bisi Bakare, president, Pragmatic Shareholders Association of Nigeria , 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.

On his part, Bababode Osunkoya, the group chairman, Access Holdings, explained that  2022 was a year of unprecedented challenges for Access Holdings and for society more broadly, stating that irrespective of the economic headwinds, the company continued to demonstrate resilience, and commitment to support customers, clients, and stakeholders.

He noted that in  January 2023, the company began an implementation of another five-year strategy which it  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 and a robust risk management framework, to deliver a deeply entrenched retail footprint and payment business,’’ Osunkoya noted.

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, adding that 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.

Herbert Wigwe, the group’s  chief executive, Access Holdings,assured the shareholders of robust dividends in the nearest future.

Wigwe said the  institution’s transition to a Holdings Company has enabled it to capture the opportunities the African market provides. He added that the company’s ambitions will be supported by seven key enablers including 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 institutions in the African Continent by the end of the strategic cycle in terms of revenues, asset base and on a balanced scorecard basis,” he said.

The Access Holdings chief executive also stated that the group is positioned to be at the centre of financial flows on the continent, expanding and deepening financial services and serving corporates with excellence, and also  creating  a self-sustaining ecosystem.