The Nigerian Exchange Ltd. and Access Holdings Plc (‘Access Holdings’) are happy to announce that its flagship subsidiary, Access Bank Plc (‘Access Bank’ or ‘the Bank’), has received a provisional license from the Bank of Namibia to open a commercial bank in Namibia.
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Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank PLC, offered the following commentary on the development: In order to develop a railroad in Namibia for intra-African trade among Southern Africa, Africa, and the rest of the globe, this expansion is a significant step forward.
It strengthens our resolve to develop a strong banking network throughout Southern Africa in order to promote financial inclusion, create shared prosperity, and enable many people to realize their aspirations. Our foray into the Namibian market is a critical milestone in our larger goal of developing a powerful worldwide brand, and it will open up new doors for both individuals and companies.
We are eager to collaborate with regional partners in order to foster innovation, strengthen local communities, and make a significant impact on the area’s economic growth. We continue to be optimistic that the Bank’s long-term profits profile will be strengthened and diversified through our investments, and that this will result in considerable benefits for our customers, shareholders, and other relevant parties.
It is anticipated that Access Bank’s activities in Namibia will boost the country’s economy and solidify its standing as a major regional force.
With activities now underway in Angola, Botswana, Mozambique, South Africa, and Zambia, the Bank is ideally situated to provide stakeholders with easy access to a wide range of chances for regional expansion and cooperation. In the upcoming months, the Bank will be working to fulfill the requirements necessary for the final license to be granted, and it will keep the market updated.
