Access bank secure approval in principal to establish subsidiary in Namibia
Access Holdings Plc has disclosed that its flagship subsidiary, Access Bank Plc, has obtained a provisional license from the Bank of Namibia to establish a commercial bank in Namibia.
In a notice filed with the Nigeria Exchange Limited on Monday, the Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, expressed enthusiasm about the development.
“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,” Ogbonna said.
He stated that the bank’s operations in Namibia were expected to stimulate the local economy and reinforce its position as a leading regional player.
He added that with existing operations in Southern Africa, including Angola, Botswana, Mozambique, South Africa, and Zambia, the bank aimed to offer stakeholders seamless access to diverse opportunities for expansion and collaboration across the region.
