Access Bank’s planned expansion to eight African countries will come with huge gains from the 1.3 billion people targeted in the African Continental Free Trade Agreement (AfCFTA) deal. The bank’s strong digital banking platforms will play well in enabling electronic payments across countries of operation and beyond. The lender is not only focusing on key markets to support regional trade and targeting new opportunity markets but positioning its operations as a trade and payments gateway to the world,
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Access Bank repositions digital payment to reap AfCFTA gains
Access Bank will be leveraging on its spread across the African continent and deep investment in technology to reap gains coming from the African Continental Free Trade Agreement (AfCTA).
The AfCTA trade bloc offers a potential market of over 1.3 billion people and a Gross Domestic Product size of over $3 trillion. According to The United Nations Conference on Trade and Development (UNCTAD), there is the potential for intra-African trade to rise to 15.5 per cent as a share of total African trade by 2022 compared with 10.2 per cent from 2010.
For many businesses, securing a seat at the stable ensures that Nigerians can influence negotiations and protect national interests.
While the agreement is not a silver bullet, due to structural barriers to trade, Group Managing Director, Access Bank Plc, Herbert Wigwe, said he saw many benefits to his bank and the various African economies within the AfCTA deal.
In a report titled: ‘Realigning for Growth’ released by the bank, Wigwe said Access Bank would be optimizing and taking maximum gain of the trade agreement by repositioning its operations and payment platforms to serve more customers across the continent.
He said Access Bank Group has consistently delivered growth and created value over time and has the largest customer base in Africa, with a significant share of digitally active clients. The bank is also becoming an aggregator in Africa by building a global payments gateway, offering holistic trade finance support and offering correspondent banking services.
It is also focusing on key markets to support regional trade by targeting new opportunity markets and positioning the bank as a trade and payments gateway to the world.
He identified eight African countries for a potential expansion as it seeks to benefit from the opportunities presented by the AfCFTA.
The bank already operates in 12 countries following a series of acquisitions spanning from Kenya to Nigeria. The markets of interest are Morocco, Algeria, Egypt, Ivory Coast, Senegal, Angola, Namibia and Ethiopia, according to an online presentation emailed by the Lagos-based lender.
It will also use its London-based unit as an “anchor for growth” to expand representative offices in countries such as India, Lebanon and China, Wigwe disclosed.
The African trade pact aims to bolster intra-regional commerce by lowering or eliminating cross-border tariffs, facilitating the movement of capital and people, promoting investment and paving the way for the establishment of a continental-wide customs union.
Access Bank plans to eventually expand into 22 African countries to cushion challenges in some markets, diversify earnings and take advantage of growth opportunities in the region.
The lender, which is looking to transition to a holding company this year, plans to open subsidiaries in insurance brokerage, consumer lending and agency banking as well as payments to boost revenue, Wigwe added.
The bank is equally transforming payments and remittances using cheap forex from international remittances to feed trade, leveraging AccessAfrica connections to wallets and payment platforms.
It is also building on partnerships with financial investors, Development Finance Institutions, among others and providing strategic support to protect and grow partners’ value.
Continuing, he said the bank has continued to deliver strong results and is focused on generating sustainable revenue across all income lines.
“The bank’s gross revenue grew 26 per cent to N592.8 billion (from nine-months 2018 to nine-months 2020 with steady growth across all income lines. Strong and diversified revenue growth has been driven by expansive retail banking growth and increased velocity of transactions, optimising value chain of wholesale banking customers, credit growth engine, prioritizing margin growth through efficiencies and delighting customers at every digital payment touchpoint,” Wigwe said.
The bank chief explained that with the growth of its operations, the lender has maintained a focus on efficiency in the last three quarters through sustainable cost to income ratio of 50 to 55 per cent given investments in digital and growth over the next two years.
“Access Bank is driving Group revenue growth through retail expansion with the bank’s retail banking business grown consistently across all income lines, driven by strong focus on consumer lending, payments and remittances, digitization of customer journeys, and customer acquisition at scale”.
“We have maintained strong capital levels despite investments for growth, accumulating capital over time. Opportunities for growth will be supported by a digital strategy that will set us apart as a clear-cut digital leader. Our Africa expansion strategy is deliberate and disciplined, with a targeted focus and approach, supported by key enablers,” Wigwe added.
The tier-1 bank is also taking advantage of the expansion strategy to diversify its earnings and risk. It said Nigeria will remain its largest market countries of presence targeting an impactful presence, reaping economies of scale, and leveraging digital and access to cheap funding sources.
Across Africa, there is an opportunity for Access bank to expand to high-potential markets.
Its Holding Company (HoldCo) will consist of four subsidiaries which include the Access Bank Group, Payments business, consumer lending and agency banking as well as insurance brokerage.
“We will therefore reorganise to capture these opportunities by transitioning to a HoldCo structure. Through this reorganisation, we will create new product revenues without taking additional risk for the enterprise, ensure diversification of earnings, and support outside of Africa expansion,” he said.
“Access Bank Group will consist of Nigeria, Africa and International subsidiaries while the Payments subsidiary will leverage the strong suite of the Bank’s assets. The Consumer Lending business has seen greater than 60 per cent growth in digital lending volume and value while the Insurance subsidiary will adopt a dynamic and creative approach to deliver value-added services focused to meet customer insurance needs,” he stated.
For instance, Access Bank is in partnership with Coronation Insurance to offer insurance products to the Bank’s customers. Access Bank-Coronation Insurance bancassurance is already available in Nigeria and Ghana.
Access Insurance Brokerage would adopt a dynamic and creative approach to provide a value- added insurance broking services focused to meeting customers’ insurance protection needs.
The bank says it recognises its unique role in preserving the environment in which we operate as well as positively impacting the society through responsible investing.
The AfCFTA plans to ease non-tariff barriers to trade on the continent, such as the reduction of red tape (which improves the time to export and import), removal of quotas and licenses, and easing of rules of origin, among others.
Also, it is expected that the agreement would lead to cheaper consumer goods prices which will drive improved wellbeing and promote access to cheaper intermediate goods for the industrial sector.
There is also the case for economies of scale as firms try to sell to the bigger African market, leading to increased efficiency. The last benefit is that countries would be more committed to industrialization to really benefit from the bigger African market as exports in much of Africa is currently primary commodities.
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Zenith Bank Plc is set to launch the maiden edition of its Girl-Child Empowerment Programme, an initiative aimed at inspiring young girls to dream boldly, develop the skills and confidence to pursue their aspirations, and prepare for meaningful opportunities in the future.
The event, themed “Banking On Her Tomorrow,” is the brainchild of the Bank’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, the first female GMD/CEO in Zenith Bank’s history and a strong advocate for girl-child education and empowerment. The event will be held virtually on Monday, October 12, 2026, at 11:00 a.m., a day after the International Day of the Girl Child, observed globally on October 11.
The programme, which will feature an impressive lineup of distinguished experts in various fields, seeks to provide girls with the inspiration, knowledge and practical perspectives needed to navigate their education and careers, while exposing them to opportunities in skills development, mentorship and leadership. As an annual platform, it will encourage girls to recognise their potential, broaden their aspirations and equip themselves to make informed choices about their future.
The initiative builds on Zenith Bank’s longstanding commitment to women and girls, demonstrated through programmes and platforms including the Bank’s annual International Women’s Day Seminar, its sole sponsorship of the Zenith Women’s Basketball League, the Women of Honour Awards in partnership with the Ford Foundation, and the Pad-a-Queen Initiative. These complement the Bank’s women-focused financial solutions, including the Z-Woman initiative, an empowerment programme that supports women-owned and women-led businesses through specialised funding, capacity building and networking. Together, these initiatives reflect the Bank’s broader commitment to supporting women and girls at different stages of their lives, and to contributing meaningfully to national development.
This maiden edition is open to all, with girls, parents, educators and other members of the public invited to participate. Interested participants can register via the link below. Those unable to join via Zoom can follow the live stream on Zenith Bank’s social media platforms.
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GTCO Plc Releases 2026 Half Year Audited Results …….. Reports Profit Before Tax of ₦603.03billion,Pays Interim Dividend of ₦1
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group posted a profit before tax of ₦603.03 billion, driven by strong performance recorded on the interest and trading income lines, which grew y-o-y by 7.5% and 24.7%, respectively. The strong earningsrecorded was moderated by a ₦46.2 billion fair value loss recognized in H1–2026, limiting y-o-y growth in PBT to 0.4%.
The Group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified. This growth was recorded in each jurisdiction where we operate a banking franchise, and across our Payments, Pension and Funds Management businesses.”
Group’s Total assets and shareholders’ funds closed at ₦18.6trillion and ₦3.3trillion, respectively. Capital Adequacy Ratio (CAR) remained very strong, closing at 34.9% (Bank 29.2%), and asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5% and 4.6% % at both Bank and Group Level in H1-2026 (Bank -3.4%, Group 5.0% in FY-2025). Cost of Risk (COR) improved to 0.6% from 2.2% during the same period.
The Group’s Loan book (net) grew marginally by 0.5% from ₦3.13trillion as of December 2025 to ₦3.15trillion in June 2026, converse for improved performance on Deposit liabilities which grew by 10.3% from ₦12.87trillion to ₦14.19trillion during the same period.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; “Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”
Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 35.9%, Pre-Tax Return on Assets (ROAA) of 6.6%, Capital Adequacy Ratio (CAR) of 34.9% (Bank: 29.2%) and Cost to Income ratio of 31.5%.
GTCO Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets
The road to the 2026 Zenith Bank NBBF Women’s Basketball League title reaches its defining stage as the nation’s top eight teams converge on the Indoor Sports Hall of the National Stadium, Surulere, Lagos, from September 28 to October 3, 2026, for the highly anticipated national Finals.
Emerging from fiercely contested Atlantic and Savannah Conference campaigns, Nigeria Customs, AS Sky Queens, Titans, Air Warriors, MFM, First Bank, Victoria Queens,and Bayelsa Blue Whales have earned their place in the final battle for national honours.
And there is plenty to look forward to.
Last year’s champions, Dolphins Basketball Club, who lifted the trophy after defeating First Bank in the final, will not be in the mix this year after failing to make the top 4 of the Atlantic Conference, leaving the title firmly up for grabs and setting the stage for a new champion to emerge.
But the trophy will be contested by teams with plenty of championship pedigree.
First Bank, last year’s finalist and the most successful team in the history of the competition, arrives with a record nine league titles, while MFM will be looking to draw on its recent dominance after winning back-to-back championships in 2023 and 2024. With both sides among the Final 8, history, experience and ambition will collide as the battle for the crown unfolds.
It is a level of competition that reflects the growth of a league that has, for more than two decades, provided a platform for Nigeria’s best female basketball talents to emerge, compete and develop. At the heart of that journey has been Zenith Bank, the sole sponsor of the National Women’s Basketball League since 2005.
Through its partnership with the Nigeria Basketball Federation (NBBF), Zenith Bank has consistently supported the development of women’s basketball, helping to provide and sustain a competitive platform where talents can be discovered, nurtured and prepared for the highest levels of the sport.
The league has also served as an important pathway to theNational Women Basketball team, D’Tigress, with several players who have featured prominently for Nigeria emerging from the domestic competition. Beyond the national team, the league continues to contribute to youth development by giving young female athletes the opportunity to build confidence, skill, discipline, teamwork and professional sporting careers.
Now, the spotlight turns to Lagos. Which team will grab theopportunity to write a new chapter in the history of Nigerian women’s basketball?
Eight teams. One destination. One crown.
For Zenith Bank, the sponsorship of the Women’s Basketball League represents more than support for a sporting competition. It reflects the Bank’s broader commitment to creating platforms that provide opportunities, develop potential and make a meaningful difference in the lives of young Nigerians.
This commitment extends across several areas of community development, with notable initiatives including:
• The reconstruction and beautification of Ajose Adeogun Street and Roundabout
• The annual Zenith Bank Youth Parade and Light-Up Ceremony
• The construction of ICT Centres in tertiary institutions across the country, and
• The construction of the ultra-modern Iga Iduganran Primary Healthcare Centre, among others.
Through these initiatives and its longstanding support for women’s basketball, Zenith Bank continues to demonstrate that its commitment to society goes beyond banking, with a focus on creating opportunities and contributing to the development of communities and the next generation.
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