Access
Holdings Plc (‘Access Holdings’) is pleased to inform the investing public and
the Nigerian Exchange Ltd that its flagship subsidiary, Access Bank Plc
(‘Access Bank’ or ‘the Bank’) has obtained a provisional licence from the Bank
of Namibia to establish a commercial bank in Namibia.
Commenting
on the development, Roosevelt Ogbonna, Managing Director/Chief Executive
Officer of Access Bank PLC, said:
“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.
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”
Access
Bank's operations in Namibia is expected to stimulate the local economy and
strengthen its position as a leading regional player. With existing operations
in Southern Africa – Angola, Botswana, Mozambique, South Africa, and Zambia – the
Bank is well-positioned to offer stakeholders seamless access to diverse
opportunities for expansion and collaboration across the region.
The
Bank will be working in the coming months to fulfil the conditions precedent to
the
grant of final licence and will keep the market
informed.
SUNDAY EKWOCHI
COMPANY SECRETARY
L to R: Oluseyi Kumapayi, Executive Director African Subsidiaries, Access Bank PLC, and Leonie Dunn, Deputy Governor, Bank of Namibia, shortly after Access Bank PLC secured Approval-in-Principle to establish Access Bank subsidiary in Namibia…recently. 
L to R: Oluseun Onasoga, Southern Africa Subsidiary Country Executive; Access Bank PLC, Kauna Ndilula, Representative of Kula Financial Solutions (Pty) Limited, (Local Partner); Oluseyi Kumapayi, Executive Director African Subsidiaries, Access Bank PLC, and Leonie Dunn, Deputy Governor, Bank of Namibia, shortly after Access Bank PLC secured Approval-in-Principle to establish Access Bank subsidiary in Namibia…recently.
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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. Hydrogen being a company of African
heritage has a clear understanding of the unique payment challenges across the
continent and is positioned to address these challenges with its offerings. Its
range of products and services, such as InstantPay, Payment gateway, POS
services, Card and Switch processing are gaining traction in the marketplace and
addressing the unique needs of customers.
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
₦3 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, Access ARM Pensions
Limited will leverage key
relationships and Access’ growing ecosystem across Africa to unlock greater
opportunities for customers.
Access Insurance Brokers Limited is a company licensed by the National Insurance
Commission that provides intelligent solutions that mitigate the unique risks
faced by individuals and business in an ever-changing world using leading risk
management tools and governance standards.
Access Holdings Plc strives to invest in businesses
that are committed to sustainable practices and have a positive impact on the
environment.
For media inquiries, please contact:
Olakunle Aderinokun
Head, Media Relations
Access Holdings Plc
+2348033204315
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