Access Bank has secured a provisional license from Namibia, marking a significant milestone in its African expansion strategy.
Access Holdings Plc announced that its subsidiary, Access Bank Plc, has received this provisional license from the Bank of Namibia to establish commercial operations in the country. This achievement highlights the bank’s aggressive efforts to broaden its footprint across Africa and solidify its position as a leading Pan-African financial institution.
The announcement was made by Access Holdings’ Company Secretary, Sunday Ekwochi, on Monday. The move underscores the bank’s strategic commitment to enhancing its influence in key African markets.
Roosevelt Ogbonna, Managing Director and CEO of Access Bank Plc, described the expansion into Namibia as a pivotal moment in the bank’s mission to create a connected banking network across the continent. He stated, “This expansion is an important step towards establishing a vital corridor for intra-African trade within the Southern African region and beyond.”
Ogbonna emphasized, “It reaffirms our dedication to building a robust Southern African banking network that promotes shared prosperity and advances financial inclusion, empowering many to achieve their aspirations. Our entry into Namibia is also a crucial component of our broader ambition to develop a strong global franchise, unlocking new opportunities for businesses and individuals alike.”
He expressed enthusiasm for partnering with local stakeholders to drive innovation, empower communities, and contribute to the region’s prosperity. “We are confident that our investments in diversifying and strengthening the bank’s long-term earnings profile will deliver significant value to our shareholders, customers, and the wider community,” he added.
Access Bank’s operations in Namibia are expected to stimulate the local economy and enhance its position as a regional leader. With existing operations in Southern Africa—including Angola, Botswana, Mozambique, South Africa, and Zambia—the bank is well-equipped to provide stakeholders with seamless access to diverse opportunities for expansion and collaboration across the region.
The statement concluded by noting that Access Bank would work over the coming months to fulfill the necessary conditions for obtaining its final license.
