Access Bank, the commercial banking division of Nigeria’s biggest lender Access Holdings, will establish a unit in Namibia following a tentative permit from the Bank of Namibia.
It plans to satisfy the preconditions to securing a definitive licence in a matter of months, the parent company said on Monday in a regulatory filing at the Nigerian Exchange.
“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,” Roosevelt Ogbonna, Access Bank’s managing director, said.
Access Bank already has footprints in some markets in the region such as South Africa, Angola, Botswana, Mozambique and Zambia.
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