Sunrise News, Lagos, Nigeria – October 8, 2024: Access Holdings Plc’s flagship subsidiary, Access Bank Plc has obtained a provisional license from the Bank of Namibia to establish a commercial bank.
A statement obtained by the Sunrise News quoting the Managing Director/Chief Executive Officer of Access Bank PLC, Roosevelt Ogbonna, said the expansion represents another milestone for the bank’s intra-African trade exploration in the Southern African financial markets.
He said it is another opportunity for investing public and the Nigerian Exchange Ltd., to know that a new chapter has been opened by the bank in Namibia.
He said: “This expansion represents an important milestone towards establishing a railroad in Namibia for intra-African trade within the Southern African region, Africa, and the rest of the world. It cements our commitment to building a robust Southern African banking network to deliver shared prosperity and advance financial inclusion thereby empowering many to achieve their dreams.
“Our entry into the Namibian market also represents a pivotal step in our broader ambition to build a strong global franchise and will unlock new opportunities for businesses and individuals alike. We look forward to partnering with local stakeholders to drive innovation, empower communities, and contribute meaningfully to the prosperity of the region.
“We remain confident that our investments towards diversifying and strengthening the Bank’s long-term earnings profile will deliver significant value to our shareholders, customers, and wider stakeholder groups.”
Ogbonna said Access Bank’s operations in Namibia, is expected to stimulate the local economy and strengthen its position as a leading regional player. With existing operations in Angola, Botswana, Mozambique, South Africa, and Zambia, the bank, he said, is well-positioned to offer stakeholders seamless access to diverse opportunities for expansion and collaboration across the region.
“The Bank will be working in the coming months to fulfill the conditions precedent to the grant of final license and will keep the market informed,” the bank’s chief added.