My takeaways from Access Holdings AGM

I attended the 2nd Annual General Meeting (AGM) of Access Holding Plc past period chiefly to discern the absorption of its caller enactment and prime up the strategical absorption of the instauration successful the years ahead. The instrumentality of Aigboje Aig-Imoukhuede to the Board arsenic president successful March has created rather a buzz successful the manufacture and wrong the institution. I instrumentality involvement successful studying enactment styles and truthful I was bent connected attending this AGM. As a erstwhile staff, shareholder and pupil of strategy, I took successful each infinitesimal of the two-hour meeting, listened to each connection spoken, drew conclusions and came distant with six takeaways.

 
Number one: In each the comments, including the opening and closing prayers, it was wide that the shareholders person deep-seated religion successful their caller chairman, Aig-Imoukhuede, and the company’s leaders, Bolaji Agbede, the acting Group Chief Executive and Roosevelt Ogbonna, the Managing Director and Chief Executive of the bank, arsenic good arsenic others.
 
There were large cheers from the shareholders arsenic the directors walked in, an understandable exhalation aft a achy and mournful period. Aigboje himself went astir shaking hands and hugging the shareholders. It was wide that the investors habour nary apprehensions astir the absorption of their company; not a consciousness of it veering disconnected from its time-tested traditions and the instauration that created the fiscal powerhouse which it has become. No uncertainty that they backed and passed each the resolutions overwhelmingly, frankincense paving the mode for the slope to conscionable and surpass the N500 cardinal minimum stock superior base.
 
Two, I could glean deliberate efforts connected the portion of the president to task Bolaji and Roosevelt arsenic the caller leaders of the banking group; oregon should I say, helium was cautious not to overshadow them. I volition notation an incidental to buttress my point.
 
After the meeting, Aigboje and Bolaji were facing 2 antithetic cameras simultaneously, talking to 2 antithetic groups of journalists. In fact, I deliberation Bolaji had adjacent started her property league earlier the president was ready. The bank’s connection squad moved backmost and distant betwixt the 2 to guarantee that everything went well. I took it each in, remembering my days arsenic a reporter. I was a concern writer covering events similar this for galore years and later, a PR enforcement managing things of this quality for a agelong time. I can’t callback seeing the president (least of all, an owner-chairman) and the CEO facing antithetic cameras for a post-event media briefing. In fact, it is the CEO that would beryllium moving astir gathering the property for the chairman, who would archetypal look uninterested, earlier helium saunters successful with a magisterial arrogance. I deliberation Aigboje conscionable wants to promote and physique assurance successful the squad arsenic emerging planetary leaders, adjacent if helium has to measurement behind.
 
Three, and this is precise important. Raising superior has ne'er been a occupation for Access Bank, and I can’t spot it arsenic 1 this time. Between 2004 and 2007, the slope raised an equivalent of $2 cardinal erstwhile Aigboje was the CEO successful his 30s starring the aforesaid squad which is successful complaint today. Now, the slope is seeking to rise an equivalent of $300 cardinal (N365 billion) from a importantly larger base. With a much disposable marque and bigger footprint crossed Africa and beyond, I don’t foresee Access not gathering this milestone wrong a grounds time.
 
Speaking to journalists aft the meeting, Aigboje disclosed that Access Holdings volition deploy integer exertion successful raising its capital. “In 2004, we went astir Nigeria and it led to the democratisation of the superior market. Other banks followed suit and the fig of banks’ shareholders accrued successful galore fold and our superior marketplace grew immensely. This time, we person the integer exertion that we would deploy fully,” helium said.
 
Four, the Group’s determination to spell by Rights Issue signals its inclinations to support the retail shareholders from dilution, and this is the committedness Aigboje and the precocious Herbert Wigwe made to them successful 2002. The duo had told the shareholders past that they would ever beryllium carried on arsenic the slope grows. Integrity is cardinal successful life.
 
Five, determination was a noticeably progressive information of women shareholders astatine the AGM. In fact, the gathering commenced with the president requesting a shareholder, Mrs. Bisi Bakare, to measurement guardant and decorate him with the bank’s lapel pin to symbolise his presumption of duty. That elemental but touching task fundamentally acceptable the code for the remainder of the lawsuit arsenic the women shareholders participated afloat and actively successful the meeting. The roving microphone got to them much often than the men, oregon astatine slightest successful adjacent measure, and the women expressed themselves loudly and clearly. The slope continues to pb successful sex issues, conscionable arsenic successful issues of sustainability and diversity.
 
Six, and this is my last takeaway, Access continues to imagination large and its radical definite judge successful their dreams. When I joined arsenic a unit successful 2008, the imagination past was to marque the slope 1 of the 5 biggest successful the country. It appeared arsenic a tube imagination then. But lone 4 years after, it was achieved. Now, by reiterating to the shareholders that Access Holdings volition go Africa’s champion banking radical (benchmarked against the South African giant, Standard Bank Group), the president noted that the institution volition beryllium Nigeria’s champion stocks successful presumption of returns successful the nearest future. Another large dream! As a 1 clip U.S. First Lady, Eleanor Roosevelt said, the aboriginal belongs to those who judge successful the quality of their dreams.