Access Holdings Acquires New Insurance Brokerage Firm

Access Holdings, founded by Nigerian banking mogul Herbert Wigwe, has bought Megatech Insurance Brokers Limited, a licensed and regulated insurance brokerage company under the National Insurance Commission. The move is consistent with the organization’s mission of creating a globally connected community of ecosystems inspired by Africa for the world.

Access Bank Zambia Limited, a subsidiary of Access Holdings, has completed the acquisition of African Banking Corporation Zambia Limited, known as Atlas Mara Zambia. The move intends to boost the Zambian unit to one of the country’s top five banks by assets.

Megatech Insurance Brokers, now part of Access Holdings, will add to the conglomerate’s varied product offerings. Wigwe, CEO of Access Holdings, emphasized the significance of this acquisition in the company’s expansion into a worldwide connected community. Megatech is ready to build and deliver intelligent solutions to successfully control risks in an ever-changing world.

Wigwe went on to say, “This acquisition aligns with our mission to build and sustain one global platform, open for anyone to join, where people can be connected to exceptional opportunities.” Megatech’s mission is to create a world in which risks are efficiently handled, allowing businesses to confidently pursue and seize development possibilities.

Wigwe, a Nigerian multimillionaire banker and Access Holdings CEO, owns 7.14 percent of the corporation. Under his tenure, Access Holdings has experienced exceptional financial development. In December 2023, Access Bank UK Ltd., a subsidiary of Access Holdings, gained approval from the Hong Kong Monetary Authority to open a Restricted Licence Branch in Hong Kong.

This initiative supports Access Holdings’ goal of becoming the world’s most renowned African bank. The permission comes following the conglomerate’s strategic plans, which include the forthcoming creation of a French unit and the acquisition of several African banks.

Access Holdings’ plans for additional expansion include the planned acquisition of the Sub-Saharan African subsidiaries of the UK-based international bank Standard Chartered Bank, which will strengthen its position in the global financial scene.

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