Access Holdings Plc has announced that its subsidiary, Access Bank Plc, has obtained a provisional licence from the Bank of Namibia to establish a commercial bank in the country.
The Managing Director and Chief Executive Officer of Access Bank PLC, Roosevelt Ogbonna, said in a statement on Tuesday that the expansion into Namibia represents a crucial step in establishing a “railroad” for intra-African trade within the Southern African region and beyond.
Ogbonna added that the bank’s entry into the Namibian market also represents the bank’s broader ambition to build a strong global franchise that will unlock new opportunities for businesses and individuals alike.
“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,” Ogbonna said.
“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.”
Meanwhile, Access Holdings Plc’s spokesperson, Olakunle Aderinokun, also noted that Access Bank’s operations in Namibia are expected to stimulate the local economy and strengthen its position as a leading regional player.
