Commenting on the development, Mr. Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank PLC, said that the 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.”
He noted that the bank’s entry into the Namibian market also represents a pivotal step in its broader ambition to build a strong global franchise and will unlock new opportunities for businesses and individuals alike.
He declared: “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”.
A statement signed by Sunday Ekwochi, the Secretary said the 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 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.
The Bank will be working in the coming months to fulfil the conditions precedent to the grant of final licence and will keep the market informed.
Access Holdings Plc operates through a network of more than 700 branches and service outlets, spanning three continents, 23 countries and over 60 million customers. The Company serves its various markets through four subsidiaries across the banking, payment, pension administration and insurance sectors through four operating companies, viz: Access Bank Plc, Hydrogen Payment Services Company Limited, Access Pensions Limited and Access Insurance Brokers Limited.
On its own, Access Bank Plc serves its various markets through four business segments – Retail Business, Commercial and Corporate, and has enjoyed what is Africa’s most successful banking growth trajectory in the last twenty years. Following its merger with Diamond Bank in March 2019, Access Bank Plc became one of Africa’s largest retail banks by customer base and the Nigeria’s largest bank by total assets.
