Access Bank obtains licence to establish commercial bank in Namibia

Oct. 7, 2024 - Nairametrics

Access Bank has obtained a provisional licence from regulatory authorities in Namibia to establish a bank in the Southern Africa country. Earlier this year, the bank announced an agreement to acquire the National Bank of Kenya from KCB Group.

KCB, the parent company of KCB Bank Ltd, Kenya’s largest commercial bank, is facilitating this transaction. Access Bank noted that this move aligns with its strategic expansion plans, aiming to strengthen its foothold in the Kenyan market.

In entering the Namibian market, Access Bank will compete with major players in the sector such as Bank Windhoek, First National Bank (FNB), Standard Bank Namibia, Nedbank Namibia, and Letshego Bank Namibia...