Roosevelt Ogbonna, Managing Director and CEO of Access Bank Plc,
Access Holdings Plc has announced a significant expansion in its banking operations with the establishment of The Access Bank Malta Limited, a fully owned subsidiary of The Access Bank UK Limited. This milestone marks a strategic move to strengthen trade and financial integration between Europe and Africa.
The Access Bank Malta Limited has been approved as a credit institution by both the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA). This development positions Malta, a prominent international financial hub, as a vital gateway for enhancing Europe-Africa trade relations and economic collaboration.
The Malta subsidiary enables The Access Bank UK Limited to capitalize on the growing trade flows between Europe and Africa, reaffirming Access Group’s commitment to fostering global trade and supporting businesses with innovative cross-border solutions.
Speaking on the expansion, Roosevelt Ogbonna, Managing Director and CEO of Access Bank Plc, stated:
“Establishing operations in Malta brings us closer to our vision of becoming Africa’s Gateway to the World. Malta’s strategic position as a bridge between European and North African economies offers immense opportunities to deepen trade and investment partnerships.”
Jamie Simmonds, Founding CEO and Managing Director of The Access Bank UK Limited, highlighted the timing of the initiative:
“With Europe solidifying its role as Africa’s leading trading partner through agreements like the Economic Partnership Agreements and the African Continental Free Trade Area (AfCFTA), The Access Bank Malta Limited is well-placed to support the financing needs of clients in these expanding markets.”
Renald Theuma, Managing Director and CEO of The Access Bank Malta Limited, added:
“Malta’s unique position between Europe and Africa makes it the perfect location for our subsidiary. This expansion allows us to provide tailored financial solutions that promote growth and connectivity across both continents.”
In its initial phase, The Access Bank Malta Limited will focus on international trade finance and employ approximately 30 staff, with plans for gradual expansion. This strategic move underscores Access Bank’s vision to drive global economic integration and foster trade opportunities between Europe and Africa.
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