Nigeria’s biggest lender, Access Bank, is looking to take advantage of the new African trade agreement and make an entrance into Egypt’s banking sector, the bank said in an online presentation cited by Bloomberg.
Egypt is among eight markets identified by the bank as “high potential,” CEO Herbert Wigwe said in a conference call last week, adding that the bank will look to “leverage the benefits of the African Continental Trade Area.” Access Bank has a presence in 11 countries outside Nigeria, including Ghana, Kenya and Sierra Leone.
The bank plans to open offices in some markets and partner with established banks or use digital platforms in others. It gave no country-specific information but said it would provide more details “in another month or two, once the arrangements have been put in place.”
