Access Bank Secures Provisional Licence in Namibia
Access Holdings Plc has announced that it has received a provisional licence from the Bank of Namibia to establish a commercial bank in the country.
In a statement, the Bank shared, “Access Holdings Plc 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.”
Roosevelt Ogbonna, Managing Director/CEO of Access Bank Plc, highlighted the strategic importance of this expansion, stating: “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 further emphasized that entering the Namibian market is a significant step in Access Bank’s larger goal of building a global franchise, unlocking new opportunities for businesses and individuals. “We look forward to partnering with local stakeholders to drive innovation, empower communities, and contribute meaningfully to the prosperity of the region.”
He added that this investment strengthens the Bank’s long-term earnings profile and will provide substantial value to shareholders, customers, and broader stakeholder groups.
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Access Bank’s presence in Namibia is expected to boost the local economy and reinforce its standing as a leading player in the Southern African region. With operations already established in Angola, Botswana, Mozambique, South Africa, and Zambia, the Bank is well-positioned to offer stakeholders diverse opportunities for growth and collaboration across the region.
The Bank will be working in the coming months to meet the necessary conditions for obtaining a final licence and will keep the market updated on its progress.
Source: Access Bank
