Access Holdings Shareholders Approve N1.30 Final Dividend, Growth Expansion
The shareholders of Access Holdings Plc, yesterday approved the management’s N1.30 final dividend payout at the Pan-African financial institution’s first Annual General Meeting (AGM), since its transitioning into Holdings Company in Lagos.
The approved dividend by shareholders is in addition to the interim dividend of N0.20 kobo per ordinary share paid at mid-year.
Speaking at the meeting, President Pragmatic Shareholders Association, Mrs. Bisi Bakare, 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.
She acknowledged decline in cost-to-income ratio to 57.9 per cent in 2022 from 58.8 per cent in 2021 amid macro-economy challenges, while urging the company to maintain effective management over rising inflation rate.
Speaking earlier, the Group Chairman, Access Holdings, Mr. Bababode Osunkoya, at the meeting said 2022 was a year of unprecedented challenges for Access Holdings and for society more broadly.
According to him, “As a company, we continued to demonstrate our resilience, our ability and commitment to support customers, clients, and wider stakeholders in ever changing economic conditions.
“In January 2023, we began the implementation of another five-year strategy which we 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, to deliver a deeply entrenched retail footprint and payment business.”
The Group Chief Executive, Access Holdings, Dr. Herbert Wigwe, said: “As the institution has transitioned to a Holdings Company to capture the opportunities the African market provides, the company’s ambitions will be supported by seven key enablers (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 on the African continent by the end of the strategic cycle in terms of revenues, asset base and on a balanced scorecard basis.
“The proven success of our business model gives us a strong foundation upon which we can build the best open financial services platform and set new ambitions, which we unveiled at our Investor Day in January 2023.”