Access Holdings Plc has notified the Nigerian Exchange and the investing public that its flagship subsidiary, Access Bank Plc has obtained a provisional license from the Bank of Namibia to establish a commercial bank in Namibia.
Commenting on the development, Roosevelt Ogbonna, Managing Direcetor/Chief Executive Officer of Access Bank Plc said:
“This expansion represents an important milestone towards establishing a railroad in Namibia for intra-African trade within the South 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 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 earning profile will deliver significant value to our shareholders, customers and wider stakeholder groups.”
Access Bank’s operation in Namibia is expected to stimulate the local economy and strengthen its position as a leading regional player. With existing operations in Southern Africa- Angola, Botswana, Mozambique, South-Africa, and Zambia- the bank is well positioned to offer stakeholders seamless access to diverse opportunities for expansion and collaboration across the region.