Access Bank Plc has deepened its international presence with the successful acquisition of a 76% majority stake in AfrAsia Bank Limited, a Mauritius-based commercial bank known for its strategic links between Africa, Asia, and global financial hubs. The acquisition was completed through Access Bank’s wholly owned subsidiary, Access Bank UK Limited, and marks a significant step in the lender’s ongoing global expansion strategy.
The deal, which received full regulatory approval from the Bank of Mauritius and the Financial Services Commission, reflects Access Bank's commitment to delivering world-class financial services while enhancing its cross-border banking capabilities.
“The Board of Directors of AfrAsia Bank Limited wishes to inform stakeholders that The Access Bank UK Limited has completed the acquisition of a 76% majority stake in the bank’s share capital,” a statement from AfrAsia confirmed.
Strengthening International Reach and Customer Connectivity
With its headquarters in the Mauritius International Financial Centre and a representative office in South Africa, AfrAsia Bank has carved out a niche as a trusted partner for high-net-worth individuals and businesses navigating high-growth markets.
Following the transaction, founding shareholder IBL Ltd will retain a 7.89% minority stake, signaling continued confidence in AfrAsia's growth trajectory and institutional strength.
The acquisition significantly enhances Access Bank UK’s international network, which already includes strategic operations in London, Dubai, Paris, Hong Kong, Malta, and Lagos. By integrating AfrAsia’s customer base and platform, Access Bank will be able to deliver even more seamless banking, wealth management, and trade finance services across continents.
“The Access Bank UK Limited will be supported by the Bank’s strong and dedicated team, whose proven track record and extensive ability in banking and investment have contributed to making it one of the leading banking institutions in the region,” the statement added.
A Broader Pan-African Vision
This acquisition is the second major international deal for Access Bank in just one month. In June 2025, the bank announced its purchase of Standard Chartered’s Consumer, Private, and Business Banking division in Tanzania, further strengthening its presence in East Africa.
Together, the two back-to-back acquisitions underscore Access Bank’s broader vision to become a leading pan-African banking group with global relevance, offering inclusive, tech-driven financial solutions to a diverse and growing customer base.
These moves also coincide with Standard Chartered’s ongoing strategic restructuring, which includes exits from several African markets — namely Angola, Cameroon, The Gambia, and Sierra Leone — as the bank pivots toward building a more focused global wealth management business.
Building on Strength and Stability
Access Bank UK Limited, which executed the AfrAsia acquisition, is lauded for its strong balance sheet, robust corporate governance, and sound risk management culture — attributes that align well with AfrAsia’s positioning and reputation.
With this acquisition, Access Bank not only cements its presence in the Mauritius financial ecosystem, a key offshore gateway for investment into Africa and Asia, but also signals to the global market its intent to compete at scale, backed by capital strength, cross-border capability, and technological innovation.
As Access Bank continues to push into new markets, these strategic moves indicate a clear roadmap: an agile, globally integrated bank built to serve the next generation of African and international clients.