Access Bank Enters Tanzania Amid Losses

S 1 - 2 D I ID RK RT C - 0

Access Bank expanded its pan-African operations by acquiring Standard Chartered Bank Tanzania’s retail banking and wealth management business for $9.62 million, following purchases of 74.85% of Standard Chartered Gambia for $6.53 million and National Bank of Kenya for $109.6 million. In H1 2025, the bank also reported ₦1.64 billion ($1.13 million) in fraud losses, up 254% from the previous year, representing 0.76% of its ₦215.92 billion ($149.1 million) profit, highlighting ongoing risks in digital banking operations.