Access Bank Secures License to Operate in Another African Country, CEO Speaks
- Access Bank has obtained a provisional license to establish a commercial bank in Namibia
- The new licence now increases the bank's operations in Southern Africa after Angola, Botswana, Mozambique, South Africa, and Zambia
- Access Bank, in the last few years, has been expanding its operations across the African continent
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Access Bank has obtained a provisional licence from regulatory authorities in Namibia to establish a bank.
The company disclosed this in a statement on the NGX signed by its Head of Media Relations, Olakunle Aderinokun.
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The bank said its commercial banking operations in Namibia will boost the country’s local economy.
Access Bank unveils plans for Namibia
The bank noted that with its existing operations in Southern Africa—including Angola, Botswana, Mozambique, South Africa, and Zambia—it is well-positioned to provide stakeholders with seamless access to various opportunities for expansion and collaboration across the region.
Roosevelt Ogbonna, Managing Director/CEO of Access Bank PLC, described the expansion into Namibia as a key step towards strengthening intra-African trade and building a strong banking network across Southern Africa.
He explained that entering the Namibian market aligns with the bank’s global growth ambitions, offering new opportunities for businesses and individuals while driving community development.
Ogbonna expressed confidence that these investments would enhance the bank’s long-term value for shareholders, customers, and other stakeholders.
He stated:
“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.”
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In a similar development, Legit.ng reported that Access Bank is nearing the completion of a deal to acquire the National Bank of Kenya 100%.
The bank deal, which was first announced in March 2024, is now set to be completed and formalised.
Access Bank's deal with the Kenya bank will further expand its market share in retail and digital banking across Africa.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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