Access Bank Plc has obtained a provisional licence from the Bank of Namibia to establish a
commercial bank in Namibia.
This is according to a regulatory filing on Monday by the parent company, According Holdings Plc (NGX: ACCESSCORP).
Access Bank has existing operations in Angola, Botswana, Mozambique, South Africa, and Zambia.
Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank PLC, said 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.
He further said that the development cements the bank’s “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.”
About Access Holdings Plc
Access Holdings Plc (the Company’) 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.
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.
Hydrogen, the payment company, leverages the strong suite of the Bank’s existing assets and customer base, creating a super fintech that will be Africa’s most powerful business services network.
Access ARM Pensions Limited, formerly Access Pensions Limited, is one of Nigeria’s largest Pension Funds Administrator (PFA’) by customer base and Assets Under Management, with nearly N3 trillion in assets under management and serving over 2 million Retirement Savings Account holders.
Access ARM Pensions Limited is the product of several separate entities. The erstwhile Access Pensions Limited first became a subsidiary of Access Holdings following the acquisitions of the former First Guarantee Pension Limited and Sigma Pensions Limited and their subsequent merger.
Subsequently, Access Pensions Limited merged with ARM Pensions Managers Limited to then form Access ARM Pensions Limited. As one of Nigeria’s leading PFAs,
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
