Access Holdings, Led By Aigboje Aig-imoukhuede, Takes Over Gambian Bank

Access Holdings has finalized its acquisition of Standard Chartered Bank Gambia, marking a major step in its expansion across Africa.

The deal ends Standard Chartereds 130-year presence in The Gambia and follows the banks retreat from underperforming markets in Africa and the Middle East.

Under Aig-Imoukhuede, Access Holdings is scaling aggressively across Africa, bolstered by strong financial performance and a robust asset base topping 25 billion.

Access Holdings Plc, a leading African financial services group led by Nigerian banker and investor Aigboje Aig-Imoukhuede, has completed the acquisition of Standard Chartered Bank Gambia, deepening its West African footprint and consolidating its status as the regions most aggressive banking acquirer.

The landmark transaction, which marks the end of Standard Chartereds 130-year presence in the country, forms part of a wider strategic retreat by the British banking giant from seven African and Middle Eastern markets where revenues have been tepid. In a statement on its website, Standard Chartered said the move was designed to sharpen its focus on high-growth markets and streamline its global operations.

This exit is not a withdrawal from Africa, but a strategic repositioning, the bank noted, while confirming its commitment to corporate banking in Tanzania and Cte dIvoire, where it will scale down retail operations.

At a press briefing in Banjul , the Governor of the Central Bank of The Gambia, Buah Saidy, confirmed that Access Bank Limited has officially taken over Standard Chartereds operations in the country. He praised the process as smooth and transparent. The buyer is Access Bank Limited. Standard Chartered will cease operations as of Friday, June 13, and we will request the return of its banking licence, he said.

Governor Saidy noted that the central bank worked closely with both institutions to make the handover as straightforward as possible for customers and employees alike. Weve made sure Standard Chartered staff are integrated into Access Bank without disruption. Our goal has been to maintain confidence and continuity in the banking sector, he added.