Would you like to receive notifications on latest updates of the following headlines?

Access Bank secures licence to establish operations in Namibia

POSTED ON October 7, 2024 •   Business      BY Abiodun Saheed Omodara
Access Bank Logo

Access Bank has received a provisional licence from regulatory authorities in Namibia to set up a bank in the Southern African nation.

The announcement was made in a statement to the Nigerian Stock Exchange, signed by the bank’s Head of Media Relations, Olakunle Aderinokun, on Monday.

Access Bank emphasised that its commercial banking operations in Namibia would contribute positively to the local economy.

With established presence in Southern Africa, including Angola, Botswana, Mozambique, South Africa, and Zambia, the bank is well-positioned to offer stakeholders seamless access to various opportunities for expansion and collaboration across the region.

The Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, highlighted the expansion into Namibia as a crucial step in strengthening intra-African trade and establishing a robust banking network across Southern Africa.

He noted that entering the Namibian market aligned with the bank’s global growth ambitions, creating new opportunities for both businesses and individuals while promoting community development.

Ogbonna expressed confidence that the investments would enhance the bank’s long-term value for shareholders, customers, and other stakeholders, reinforcing Access Bank’s commitment to fostering economic growth across the region.

He stated, “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.”

Access Bank’s expansion into Namibia is part of its strategy to establish itself as a financial gateway to Africa and enhance its presence in the continent’s banking sector.

Earlier this year, the bank announced a significant agreement to acquire the National Bank of Kenya from KCB Group.

Access Bank entered into a binding agreement with Kenya-based KCB Group Plc to acquire the entire issued share capital of National Bank of Kenya Limited.

KCB, the parent company of KCB Bank Ltd, Kenya’s largest commercial bank, is facilitating this transaction. This move aligns with Access Bank’s strategic expansion plans, aimed at solidifying its foothold in the Kenyan market and driving growth across the region.

READ ALSO
Trade Tensions Rise as South Korea and U.S. Prepare for Key Discussions
BY Abiodun Saheed Omodara May 16, 2025 0

AFP - South Korea is prepared to restart tariff discussions with Washington during an important APEC...

READ ALSO
Sanwo-Olu Establishes Apapa Central Business Office to Enhance Infrastructure, Business Climate
BY Abiodun Saheed Omodara May 15, 2025 0

Lagos State Governor, Babajide Sanwo-Olu, has sanctioned the creation of the Apapa Central Business...

READ ALSO
NBS Reports April 2025 Inflation Rate Falls to 23.71%, Highlighting Food Safety Risks
BY Abiodun Saheed Omodara May 15, 2025 0

The inflation rate for April 2025 dropped to 23.71 percent, down from 24.23 percent in March 2025, m...

READ ALSO
Nasarawa Assembly Enacts Mining Bill to Ensure Compliance and Community Welfare
BY Abiodun Saheed Omodara May 14, 2025 0

NASARAWA, Nigeria - The Nasarawa House of Assembly On Tuesday approved a mining bill aimed at regula...

READ ALSO
CBN Launched BVN Platform for Nigerians Living Abroad
BY Abiodun Saheed Omodara May 14, 2025 0

The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIB...

READ ALSO
Tinubu Calls for Unified Tax System to Enhance Revenue Generation and Equity
BY Abiodun Saheed Omodara May 13, 2025 0

ABUJA, Nigeria - President Bola Tinubu has reiterated his commitment to undertaking bold and compreh...

READ ALSO
World Bank: Tinubu’s Reforms Bringing Stability to Nigeria’s Economy
BY Abiodun Saheed Omodara May 13, 2025 0

ABUJA, Nigeria - The World Bank expressed approval of the federal government on Monday, noting that...

READ ALSO
SERAP Requests CBN to Reveal Local Council Allocations Before 2027 Elections
BY Abiodun Saheed Omodara May 12, 2025 0

The Socio-Economic Rights and Accountability Project (SERAP) has requested that the Governor of the...

OUR CHANNELS:

House of Representatives Advances Bill to Make Voting Mandatory for Nigerians
BY Abiodun Saheed Omodara May 15, 2025 0

Abuja, Nigeria- The House of Representatives has passed for second reading a bill seeking to am...


NANS Calls for JAMB Registrar Ishaq Oloyede's Resignation Over 2025 UTME Errors
BY Abiodun Saheed Omodara May 15, 2025 0

The National Association of Nigerian Students (NANS) has called for the resignation of Ishaq Oloyede...


Peter Obi Commends JAMB’s Accountability, Warns of Institutional Fragility Over UTME Glitches
BY ROCKETPARROT.com staff May 15, 2025 0

Former Anambra State Governor and Labour Party presidential candidate in the 2023 elections, ...


Lagos Introduces Specialized Units for Crime Prevention
BY Abiodun Saheed Omodara May 15, 2025 0

In an effort to keep Lagos secure for both its residents and visitors, the Neighbourhood Safety Agen...


UK Urges Nigerians to Combat Visa Fraud amid Surge in Applications
BY Abiodun Saheed Omodara May 15, 2025 0

Richard Montgomery, the British High Commissioner in Nigeria, has called on Nigerians to stay alert...


FOX59: Woman Fatally Shot Outside Event Center on Indianapolis East Side
BY ROCKETPARROT.com staff May 15, 2025 0

INDIANAPOLIS — A woman was shot and killed Wednesday night outside an event center on the east...


DSS vs. Pat Utomi: Legal Battle Over Shadow Government Tests Nigeria’s Democratic Boundaries
BY ROCKETPARROT.com staff May 15, 2025 0

The Department of State Services (DSS) has filed a lawsuit against Prof. Pat Utomi, a renowned eco...


Shadow Government or Civic Protest? Experts Debate What Pat Utomi's Move Really Means
BY ROCKETPARROT.com staff May 16, 2025 0

ABUJA – As the Department of State Services (DSS) seeks to shut down Prof. Pat Utomi’s s...


Will Pope Leo XIV Lose His American Citizenship? A Legal and Diplomatic Puzzle Unfolds
BY Abiodun Saheed Omodara May 15, 2025 0

VATICAN CITY – When Cardinal Robert Francis Prevost was elected Pope Leo XIV on May 8, he beca...


30% of Lagos State Employees on Study Leave Abroad Fail to Return - Commissioner
BY Abiodun Saheed Omodara May 15, 2025 0

LAGOS, Nigeria - The Lagos State government has disclosed that 30% of its employees who took study l...


More Articles

Load more...

Menu