Access Holdings Plc (‘Access Holdings’) is pleased to inform the investing public and the Nigerian Exchange Ltd that its flagship the subsidiary, Access Bank Plc (‘Access Bank’ or ‘the Bank’) has obtained a provisional
licence from the Bank of Namibia to establish a commercial bank in Namibia.
Commenting on the development, Roosevelt Ogbonna, Managing Director/Chief
Executive Officer of Access Bank PLC, said: “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. 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”
Access 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 – theBank 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.
