Access Bank To Enter US Market by 2026, Aiming for Global African Presence

The Group Managing Director/CEO,  Access Bank Plc, Mr. Roosevelt Ogbonna, on Monday disclosed that the financial institution is determined to expand operations to the United States of America (USA) market  in the first quarter (Q1)  of 2026 with the drive to become a truly African global bank.

Speaking at a media parley with journalists in Lagos, Ogbonna stated that the financial institution is poised to become a truly African global bank as it has penetrated into London, Hong Kong and Paris markets.

“By the first quarter of 2026, we will have Access Bank USA. We are going to be in the USA market. We will be in the global market and we will have global conversations, and dealing with different counterparties who operate across the world,” he said.

He said  that  Access Bank with aim to play in critical sectors, has to utilise trade and payments on the continent.

“So, we have started something we refer to as an aggregator strategy.  There is no point being a pan-African banker when you have zero impact. So, it is very clear to us that in every market, we have a compete locally, and we have to be a dominant bank in the local market.

“Of our 19 markets that we will be on the continent by 2027, eight of those markets will be in the top three banks.  15 of these markets will be a top 10 bank and 11 of them will be a top five bank,” he stated.

According to him, it is relevant to build scale in those markets on the backdrop of employing local talents, impacting the local economy, and working with the local governments or the sovereigns    in those markets to make an impact.

“But I think importantly, it means that we then have the scale and the size to be able to force cross border trades to happen,” he said.

He stated that the management is deliberate in terms of the market it invests in.

He highlighted that the financial institution is targeting markets where there is rule of law, and respect of contracts; markets where there’s investor openness and friendliness; markets where the quality of education and skill is sufficient, and markets where there is significant trading amongst themselves.

“With international banks pulling out, there has to  be a local bank, a local African bank who is local in every market that takes significant advantage of those opportunities in African free trade,” he  said.

Kayode Tokede

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