Access Bank secures provisional license for Namibia expansion, to boost Intra-trade

Access Holdings Plc has announced that its flagship subsidiary, Access Bank Plc, has obtained a provisional license from the Bank of Namibia to establish a commercial bank in the country.

This marks a significant step in Access Bank’s ongoing strategy to expand its footprint across Southern Africa.

Roosevelt Ogbonna, Managing Director/CEO of Access Bank, highlighted the importance of this expansion, stating, “This move is a critical milestone in creating a robust network in Southern Africa, fostering intra-African trade, and advancing financial inclusion. It underscores our commitment to delivering shared prosperity and empowering communities to achieve their dreams.”

The Namibian expansion aligns with Access Bank’s broader goal of building a global banking franchise. Ogbonna emphasized that this new venture will open up fresh opportunities for businesses and individuals, while also supporting local economic growth.

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Access Bank plans to collaborate with local stakeholders to drive innovation and contribute to the prosperity of the region.

With existing operations in Angola, Botswana, Mozambique, South Africa, and Zambia, Access Bank is poised to provide seamless opportunities for growth and partnership throughout Southern Africa.

The bank will work in the coming months to meet the requirements for a final license and will keep the market updated on its progress.

This expansion is expected to further solidify Access Bank’s position as a leading regional player, driving economic development and creating value for shareholders, customers, and stakeholders across the region.