In a bid to strengthen Intra-African trade presence, Access Bank PLC has taken a strategic step in expanding its footprint across Southern Africa by securing a provisional licence to establish a commercial bank in Namibia.
This development, announced in a statement signed by the bank’s Head of Media Relations, Olakunle Aderinokun, signals Access Bank’s ambition to drive economic growth and financial inclusion within the region.
The move into Namibia is part of the bank’s larger strategy to enhance intra-African trade and strengthen its presence across Southern Africa. With operations already established in Angola, Botswana, Mozambique, South Africa, and Zambia, Access Bank aims to position itself as a gateway for businesses and individuals seeking opportunities within the region.
Roosevelt Ogbonna, Managing Director and CEO of Access Bank PLC, emphasized that this expansion aligns with the bank’s broader mission to foster regional economic development and unlock growth potential.
He stated that the Namibian market offers immense opportunities for advancing financial services and driving innovation that empowers communities.
“Entering the Namibian market is not just about expanding our operations; it is about reinforcing our commitment to intra-African trade and building a connected banking network that empowers individuals and businesses to achieve their dreams,” Ogbonna said.
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He added that the bank’s entry into Namibia would enhance financial inclusion, create new opportunities for collaboration, and contribute to the long-term prosperity of the region.
The expansion into Namibia also reflects Access Bank’s continued pursuit of growth across Africa.
Recall that, Earlier this year, the bank took significant steps to strengthen its foothold in East Africa by announcing an agreement to acquire National Bank of Kenya from KCB Group. This acquisition aligns with its vision of becoming a dominant player in the continent’s financial sector.
As the bank prepares to compete with established players in Namibia such as Bank Windhoek, First National Bank (FNB), and Standard Bank Namibia, its strategic approach underscores the bank’s commitment to creating lasting economic value in every market it enters.
This expansion is said to reinforce Access Bank’s position as a leader in driving financial innovation across Africa and highlights its role in building a robust banking infrastructure for intra-African trade and global business connections.
