Access Holdings has announced that its banking group’s, subsidiary, The Access Bank UK Limited has established its first fully owned subsidiary in Malta, The Access Bank Malta Limited. The banking licence application has been approved by both the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA), signalling a significant step in enhancing trade connectivity between Europe and Africa.
The approval of The Access Bank Malta Limited as a credit institution marks a transformative milestone in bolstering Europe-Africa trade flows. Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
The strategic expansion into Malta enables Access Bank UK to leverage growing trade opportunities between Europe and Africa. It underscores Access Group’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
Commenting on the development, Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, and CEO of the Banking Group, said: “By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World. It further enhances our Bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities.”
Similarly, Jamie Simmonds, Founding Chief Executive Officer and Managing Director of The Access Bank UK Limited, commented: “Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA). With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets.”
Also, Renald Theuma, Managing Director and Chief Executive Officer of The Access Bank Malta Limited, emphasised the significance of this expansion, noting that Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. “This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents,” he concluded.
The Access Bank Malta Limited will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
Meanwhile, in line with the institution’s commitment to making positive impact in local communities through its Employee Volunteering Programme, the Digital & Centralised Operations Group of Access Bank Plc, recently partnered with five primary healthcare centres in the Eti-Osa East Local Council Development Area of Lagos State, to improve access to quality healthcare for residents.
The initiative was launched after assessments and interactions with each of the five centres, where significant gaps in medical supplies and equipment essential for effective healthcare delivery were identified. To address these pressing needs, the employees provided essential medical equipment, conducted wellness symposiums, and delivered financial literacy education to medical personnel.
Commenting on the drive behind the initiative, the Group Head, Digital and Centralised Operations Group at Access Bank Plc, Oluseyi Adenmosun, who was represented by his deputy, Lynda Ifeanyi-Anyanwu, expressed the Bank’s dedication to community welfare.
“At Access, we believe in building stronger communities through initiatives that go beyond the scope of the traditional banking activities we are widely known for. Leveraging the collective strength of our employees through mediums like the employee volunteering program, we can touch lives and directly impact critical areas like healthcare. By equipping these primary healthcare centres and educating the staff on financial management, we hope to not only improve immediate healthcare delivery but also empower these communities for the long term”, she said.
As part of the initiative, there was a wellness symposium aimed at enhancing healthcare practices in the community while providing valuable information on preventive care and holistic health approaches. Additionally, the financial literacy sessions empowered the healthcare workers with practical techniques to better manage resources.
Dr. Oyebanji Elegushi, the Medical Officer of Health Eti-Osa East LCDA, expressed gratitude on behalf of the community. “This partnership with Access Bank is a welcome relief for our healthcare facilities. The new medical equipment and the knowledge shared by Access Bank staff will make a lasting difference. We are now better equipped to treat more patients and promote healthier lifestyles within our communities.”
Also present at the event were representatives of the Lagos State Government and the Health Commission, including the Permanent Secretary District 3, Dr. Mosurat Adeleke; Director Medical Sciences District 3, Dr. Adenike Oguntuase; and the Executive Chairman, Eti-Osa East LCDA, Hon. John Campus Ogindare.
