January 15, (THEWILL) – Access Holdings Plc has announced the acquisition of Megatech Insurance Brokers Limited, an insurance brokerage company licensed and regulated by the National Insurance Commission.
The Group stated this in a notice to the investing public and the Nigerian Exchange Limited.
According to the statement signed by by Sunday Ekwochi, the Company Secretary the group said:
“Access Holdings Plc is pleased to inform the investing public and the Nigerian Exchange Limited that it has obtained all required regulatory approvals for the acquisition of Megatech Insurance Brokers Limited, an insurance brokerage company licensed and regulated by the National Insurance Commission”.
The group noted that the acquisition of the Company complements Access Holdings’ bouquet of product offerings in pursuit of its vision of building a gobally connected community of ecosystems inspired by Africa for the world.
It added that Megatech will strive to create a world where risk is efficiently managed so that we can confidently seek and seize growth opportunities.
Commenting on the acquisition, Dr. Herbert Wigwe, Group Chief Executive Officer, Access Holdings said:
“This acquisition is a natural step in our evolution as a globally connected community and ecosystem and aligns with our mission to build and sustain one global platform, open for anyone to join where people can be connected to exceptional opportunities.
“The Company will design and provide intelligent solutions that mitigate the unique risks faced by individuals and businesses in an ever-changing world using leading risk management tools and governance standards.’’
THEWILL recalls that Access Bank Zambia Limited (Access Bank) announced that it has completed its acquisition of African Banking Corporation Zambia Limited, trading as Atlas Mara Zambia (Atlas Mara) after obtaining all requisite regulatory approvals.
According to a statement from the bank, Atlas Mara is now a wholly-owned subsidiary of Access Bank Zambia. Following these regulatory approvals, the two banks will continue to operate separately until all integration-related processes are finalized.
Once the merger is complete, the combined entities will become one of Zambia’s top five banks by revenue with prospects to be in the top three by 2027
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
