By Chinwendu Obienyi
Access Holdings have announced it has received regulatory approval to acquire a majority equity stake in First Guarantee Pension Limited.
This was contained in a disclosure signed by Sunday Ekwochi, Company Secretary, titled, “Access Corporation announces receipt of full regulatory approval in respect of its acquisition of majority equity stake in First Guarantee Pension Limited.”
According to the statement, the Group believes the transaction is pivotal in its plan to evolve into to a financial service holding company positioned to gain relevant scale across Africa, global monetary centres and beyond-banking verticals.
The disclosure stated, “Access Holding Plc trading as Access Corporation sequel to its earlier announcement on May 19, 2022, announces today that it has received full regulatory approval of its acquisition of majority equity stake in First Guarantee Pension Limited.
Following this development, FGPL is now a subsidiary of the corporation and will provide a strong springboard for the corporation’s execution of its ecosystem strategy for the pension funds administration industry”.
Speaking on this development, Dr Herbert Wigwe, Group Chief Executive Officer, Access Corporation said that the transaction was in line with its vision to create a globally connected community and ecosystem inspired by Africa for the world.