By Tochukwu Bliss, Abuja
Access Holdings, yesterday, said it has secured a provisional licence to open a commercial bank in Namibia, thereby expanding its reach across the Southern African region.
A statement signed by Access Bank’s Company Secretary, Sunday Ekwochi, quoted the Managing Director and CEO, Roosevelt Ogbonna, as describing the move as evidence of the bank’s commitment to “build a strong global franchise”.
Mr. Ogbonna noted that this will also open up “new opportunities for businesses and individuals alike.”
He continued: “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.”
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.
Mr Ogbonna equally expressed optimism in exploring partnerships with like-minded Namibian stakeholders to boost the region’s economy.
“We look forward to partnering with local stakeholders to drive innovation, empower communities, and contribute meaningfully to the prosperity of the region,” he added.
The bank further noted that the Namibian market will add to Access Holdings’ growing list of operations in Southern Africa, where countries like Angola, Botswana, Mozambique, South Africa, and Zambia have already issued licences to the bank.
Mr Ogbonna added that Access Bank’s shareholders and customers will benefit from the Namibian branch.
“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,” he said.
