“Africa for Africans!” – Access Bank Boss Declares End to Offshore Reserves, Backs Intra-Continental Growth
Detailed Breakdown with Emojis:
1. No More Offshore Reserves!
The Managing Director of Access Bank Plc, Mr. Roosevelt Ogbonna, boldly stated that Africa must stop keeping its financial reserves outside the continent. Speaking at the 2025 Access Holdings’ Media Parley, he emphasized that real Pan-Africanism demands that African wealth be invested in African banks.
“If they mean it, let their investments be with African banks,” Ogbonna challenged.
2. Trump’s Policies: A Blessing in Disguise? ➡️
Ogbonna claimed that former U.S. President Donald Trump’s policies, often seen as isolating, have inadvertently spurred African leaders to look inward—an unexpected push toward intra-African trade and financial independence.
3. Access Bank’s African Expansion: Disciplined, Not Aggressive ✈️
The bank’s rapid growth across Africa—now in 22 countries—was described not as aggressive, but “disciplined African expansion.” Ogbonna highlighted that Access Bank foresaw the need for a pan-African banking network even before AfCFTA became reality.
4. Mergers & Acquisitions (M&As): The Secret Weapon of Growth ⚙️
Access Bank’s growth is rooted in carefully executed M&As.
• Out of 22 acquisitions, only one (Ivory Coast) underperformed, and even that did not result in losses.
• Notably, acquiring Diamond Bank, once seen as risky, turned out to be a strategic win.
5. AfCFTA & Market Opportunity: Right Time, Right Moves
Ogbonna explained that the exit of international correspondent banks from Africa opened commercial doors, while AfCFTA gave political weight to intra-African banking efforts.
“The pull-out gave us commercial opportunity. AfCFTA gave us the political push.”
6. Mortgage Projects with Lagos & Ogun States ️
Access Bank has signed a deal with Lagos State (October 2024) to build 2,000 homes and is in talks with Ogun State. The bank is open to similar partnerships with other states ready to provide land and infrastructure for affordable housing.
7. Final Word: “Africa Has the Capacity!”
Ogbonna closed by reinforcing Access Bank’s unique strength in M&A-driven growth and its capacity to connect the continent—both financially and structurally.
Detailed Breakdown with Emojis:
1. No More Offshore Reserves!
The Managing Director of Access Bank Plc, Mr. Roosevelt Ogbonna, boldly stated that Africa must stop keeping its financial reserves outside the continent. Speaking at the 2025 Access Holdings’ Media Parley, he emphasized that real Pan-Africanism demands that African wealth be invested in African banks.
“If they mean it, let their investments be with African banks,” Ogbonna challenged.
2. Trump’s Policies: A Blessing in Disguise? ➡️
Ogbonna claimed that former U.S. President Donald Trump’s policies, often seen as isolating, have inadvertently spurred African leaders to look inward—an unexpected push toward intra-African trade and financial independence.
3. Access Bank’s African Expansion: Disciplined, Not Aggressive ✈️
The bank’s rapid growth across Africa—now in 22 countries—was described not as aggressive, but “disciplined African expansion.” Ogbonna highlighted that Access Bank foresaw the need for a pan-African banking network even before AfCFTA became reality.
4. Mergers & Acquisitions (M&As): The Secret Weapon of Growth ⚙️
Access Bank’s growth is rooted in carefully executed M&As.
• Out of 22 acquisitions, only one (Ivory Coast) underperformed, and even that did not result in losses.
• Notably, acquiring Diamond Bank, once seen as risky, turned out to be a strategic win.
5. AfCFTA & Market Opportunity: Right Time, Right Moves
Ogbonna explained that the exit of international correspondent banks from Africa opened commercial doors, while AfCFTA gave political weight to intra-African banking efforts.
“The pull-out gave us commercial opportunity. AfCFTA gave us the political push.”
6. Mortgage Projects with Lagos & Ogun States ️
Access Bank has signed a deal with Lagos State (October 2024) to build 2,000 homes and is in talks with Ogun State. The bank is open to similar partnerships with other states ready to provide land and infrastructure for affordable housing.
7. Final Word: “Africa Has the Capacity!”
Ogbonna closed by reinforcing Access Bank’s unique strength in M&A-driven growth and its capacity to connect the continent—both financially and structurally.