Tag: Access Bank

Access Holdings Plc says its subsidiary, Access Bank Plc has obtained a provisional licence from the Bank of Namibia to establish a commercial bank in Namibia.

In a statement to the Nigerian Exchange and the general public, Managing Director/Chief Executive Officer of Access Bank PLC, Roosevelt Ogbonna, explained why the Tier-1 lender was expanding.

He said: “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.

 “Our entry into the Namibian market also represents a pivotal step in our broader ambition to build a strong global franchise and will unlock new opportunities for businesses and individuals alike. We look forward to partnering with local stakeholders to drive innovation, empower communities, and contribute meaningfully to the prosperity of the region.

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We remain confident that our investments towards diversifying and strengthening the Bank’s long-term earnings profile will deliver significant value to our shareholders, customers, and wider stakeholder groups”.

Access Bank’s operations in Namibia is expected to stimulate the local economy and strengthen its position as a leading regional player. With existing operations in Southern Africa – Angola, Botswana, Mozambique, South Africa, and Zambia – the Bank is well-positioned to offer stakeholders seamless access to diverse opportunities for expansion and collaboration across the region.

The Bank will be working in the coming months to fulfil the conditions precedent to the

grant of final licence and will keep the market informed.

Private and public sectors’ experts have called for enhanced strategies to address climate change and air pollution.

They said creating a more affordable and resilient energy system would help improve the economy and the quality of life.

Experts spoke at a two-day conference of the Renewable Energy and Energy Efficiency Association (Alliance) (REEEA-A) in Abuja. The theme of the conference was: “Road to Net Zero: Actionable Initiatives for Success”.

Minister of Power, Adebayo Adelabu, who was represented by the Deputy Director, Power and Energy Division, Owolabi Sunday, said climate change poses pressing challenges that need to be addressed by ensuring transition from traditional energy sources to cleaner alternatives.

He highlighted that Nigeria is blessed with abundant renewable resources such as sunlight, wind, and water, and therefore, transitioning to renewable energy is essential for the country’s sustainable future.

Executive Director, Risk Management, Access Bank, Dr. Gregory Jobome emphasised on the need for universal access to modern energy.

According to him, as a bank, Access Bank’s mission has evolved beyond conventional banking to embrace sustainability as a core business principle.

 “This journey is not just about us funding individuals or organisations, it’s about all of us working together, co-creating solutions, and scaling up sustainable initiatives across Nigeria and Africa. To further achieve this, we lunched the Sustainable Finance Accelerator Programme, an initiative from the bank to Boost Eco-Friendly Initiatives in Nigeria.

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 “The programme is structured collaborate and nurture innovative ideas within the sustainable development sector by offering comprehensive training, mentorship, and essential resources. The programme’s goal is to transform participants’ ideas into viable, impactful businesses that contribute to a more sustainable and resilient future,” Jobome said.

President, Renewable Energy and Energy Efficiency Association (Alliance) (REEEA-A), Magnus Onuoha, highlighted the achievements and vision of the Alliance over the past five years.

He emphasized that, in collaboration with seven associated organizations, the Alliance has actively worked towards improving energy access and security in Nigeria and beyond.

He stated that through its mission, the Alliance has enhanced the quality and standards of renewable energy technologies, research, and policy by fostering knowledge generation and dissemination for sustainable development.

Onuoha highlighted key milestones of the Alliance, including the standardization and validation of energy efficiency measures and the harmonization of renewable energy policies between 2020 and 2021.

He further stated that the Alliance has also provided regulatory support to both public and private sector clients, focusing on network and information exchange, youth and gender empowerment, and research support services.

He acknowledged the contributions of partners such as the Nigeria Energy Support Program (NESP), a joint initiative between the European Union, the German government, the Federal Ministry of Power, and GIZ. Access Bank was also recognized for its sponsorship, underscoring the significance of private-sector involvement in achieving net-zero targets.

Onuoha stated that the theme “Net Zero” centers around addressing climate change and air pollution while creating a more affordable and resilient energy system.

Achieving net-zero emissions offers a path to a more productive economy and improved quality of life, focusing on human progress and sustainability.

Access Bank, Nigeria’s largest bank by assets, has launched a ‘Switch to Solar by Access’ campaign to offer affordable financing opportunities to businesses and customers to adopt a cleaner and more reliable source of electricity through solar photovoltaic (PV) and batteries.

Group Head, Consumer Banking, at Access Bank, Njideka Esomeju said the campaign aimed at increasing lending to solar energy segment was in alignment with the bank’s commitment to social responsibility and sustainable development.

“Recognising the critical role that renewable energy plays in reducing carbon footprints and fostering environmental sustainability, we are launching a targeted initiative to facilitate the acquisition of solar power products through flexible financing options with the switch to solar product.

“We launched the initiative, which ensures that each household can have solar energy, first of all, to reduce costs for them, provide clearer energy and the product will be financed by the bank,” Esomeju said.

She stated that in ensuring this the bank is in collaboration with credited vendors across the country that are selling solar products. We are collaborating with them to ensure that these are gotten at a good rate. We aim to ensure that all households, commercial businesses and industrial factories are powered by solar.

Speaking on the bank alignment to ESG, the Regional Sales Director of Access Bank,  Bolarinwa Animashaun said that the switch-to-solar was born based on engagement with customers of the bank.

His words, “We needed to assist them to provide alternative ways to power their operations. We all know the cost of the tariff of electricity”.

He added that the bank is contributing to the Economic, Social and Governance (ESG) seventh goal that was adopted by the United Nations as this specifically aligns it with a global brand.

The product can easily be acquired without pressure to customers and payment can be made over a period of 48 months.

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Group Head, W Initiative, Access Bank, Abiodun Olubitan, in her contribution, said that the bank is considering women and women-led businesses in accessing the product .She added that the bank’s commitment towards gender empowerment is to inspire, connect and empower women.  The product will be given to women at a  discounted interest rate as this will enable them to run their businesses on any scale that they want.

According to her, “We are trying to ensure that this product is also positioned to women’s reach.

“The beauty of it is that we are not just ensuring that we have a clean environment, this is also our way of empowering women.

Olubitan stated one of the major target markets for switch-to-solar is underserved, saying that this population is probably 60 per cent of women.

Unit Head , Consumer lending , Access bank , Thelma Luke Nwoye stated in her contribution the objective of the campaign . She said, “We want to take this awareness in collaboration with our partners to the doorstep of every community around us, one individual at a time and one cluster at a time.

 “We also plan to educate people about the benefit of solar energy and its impact on environmental sustainability.”

She explained that the Bank will finance the entire solar products, right from panels, inverters, batteries and installation.

She added that this campaign is very important because it speaks to sustainability, social impact and providing finance for individuals or customers where they can purchase and pay over a period of 12 months to 48 months.

Switch to Solar by Access campaign will enable businesses to access up to N50 million and individuals N10 million for the financing of Solar Photovoltaic (PV), Batteries & inverters along with installation, with a competitive interest rate, flexible repayment period of up to 48 months and as low as 10 per cent equity contribution on invoice value.

•Renewed QuickBucks to quicken loan access

Access Bank has disbursed more than N740 billion in digital loans in a major boost to consumer lending.

Consumers were able to access up to N10 million in instant loans to cover various needs.

Group Head, Consumer Banking, Access Bank, Njideka Esomeju said the bank has revamped its digital loan platform ’QuickBucks’, to boost lending to Nigerian consumers.

Esomeju said customers can access the bank’s digital loans for businesses, vehicle financing, school fees payment, among others. QuickBucks loans allow customers to get that assistance fast and easily.

Since the introduction of its first digital PayDay loan in 2017, Access Bank has issued 18 million digital loans amounting to over N740 billion, enabling customers to receive up to N10 million instantly.

“Many Nigerians are facing financial challenges due to the economic situation in the country. At Access Bank, our goal is to enable every Nigerian to achieve financial freedom, which is why we introduced digital lending solutions.

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“QuickBucks Loans can be accessed through the QuickBucks USSD code, the Access More app for smartphone users, or via the QuickBucks platform on web or app,” Esomeju said.

She explained that initially, the digital loans were limited to salary earners with a 30-day repayment term but it now offers up to 12 months of repayment time for customers with salary accounts, self-employed individuals, active account holders, as well as business and trader account holders.

Unit Head, Digital Lending, Efe Obaigbena emphasised the purpose and improvements of QuickBucks Loans noting that the loans were designed to address customers’ urgent financial needs.

“Since its launch in 2017, QuickBucks Loans have seen significant enhancements. As a responsible lender, we ensure our customers do not face excessive debt by capping our loans at a percentage of salary or account transactions. Eligibility also requires a good credit record across all financial institutions,” Obaigbena said.

Esomeju noted that the loans’ interest rates are among the lowest in the industry, ranging from about five per cent to a maximum of 15 per cent, depending on the type of loan.

She added that QuickBucks Loans were designed for ease of access as customers with low literacy levels as the USSD code provides a straightforward way to obtain digital loans, allowing them to join the financial system regardless of their financial knowledge.

Team Lead, Digital Lending, Oladisun Dawodu discussed the bank’s commitment to integrating fintech innovations.

“Access Bank embraces fintech culture to distinguish itself in the market. We are preparing for future advancements such as AI-based lending solutions, blockchain technology for secure transactions, and closer integration with financial ecosystems.

 “We are investing in technology and strategic actions to ensure QuickBucks Loans remain competitive and responsive to these developments,” Dawodu said.

Dawodu explained that QuickBucks Loans are attractive because they are automated.

“Getting a QuickBucks Loan is quick and easy, and so is repaying it. Customers just need to make sure they have enough money in their account on the due date and the payment will be deducted automatically, without any hassle. Our customer support team will also contact you with messages and calls as your due date approaches,” Dawodu said.

Access Bank Plc will deploy about N442.5 billion syndicated facility to finance underserved businesses, especially small and medium enterprises (SMEs) in agro-allied sector and women-owned businesses.

Access Bank and Dutch Entrepreneurial Development Bank (FMO) signed syndicate Tier II Facility agreement of $295 million, about N442. 5 billion, underscoring a relationship that has flourished for over two decades.

The agreement was the largest syndication in FMO’s history. The substantial investment was the result of a collective effort involving a syndicate of global development finance institutions partners, each playing a crucial role in strengthening Nigeria’s private sector.

The syndicate included British International Investment (BII), Belgian Investment Company for Developing Countries (BIO), BlueOrchard, FinDev Canada, Finnfund of Finland, Norfund of Norway, Oikocredit, and Swedfund of Sweden.

Managing Director, Access Bank Plc, Roosevelt Ogbonna,  said the facility not only enhances the bank’s capital reserves, but also strengthens Africa’s trade capabilities and export potential.

“Putting these funds to use, we aim to catalyse growth across various sectors, stimulate business development, create jobs, and deepen financial inclusion, aligning with Access Bank’s mission to drive progress and development throughout the continent and beyond,” Ogbonna said.

He noted that Access Bank’s collaboration with FMO began in 2003, reflecting a shared commitment to economic development in Nigeria.

According to him, this latest agreement, the third of its kind arranged by FMO for Access Bank, goes beyond a mere financial transaction, and serves as proof to the deep-rooted trust and synergy between the two institutions.

He said the financial infusion would be used to empower local small and medium-sized enterprises (SMEs), with a particular focus on underserved segments such as youth- and women-owned businesses, agricultural enterprises, and very small enterprises.

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“Today marks a significant milestone in our longstanding partnerships with FMO. This monumental syndicate Tier II Facility agreement underscores the deep-rooted trust and synergy among our institutions,” Ogbonna said.

He commended FMO for its unwavering support and emphasise the bank’s commitment to becoming the world’s most respected African bank by adhering to global best practices and maintaining high standards of accountability.

Chief Executive Officer, Dutch Entrepreneurial Development Bank (FMO), Michael Jongeneel, said the syndicated loan provides significant support to SMEs in Nigeria, particularly underserved segments such as women and young entrepreneurs.

He said the loan aligned perfectly with FMO’s shared strategy to enhance financial inclusion and empower local entrepreneurs in the agribusiness and SME sectors.

“We extend our gratitude to our longstanding partner, Access Bank, and our syndication partners for their outstanding cooperation and collective effort in making this loan facility a reality,” Jongeneel said.

The signing ceremony was attended by dignitaries including Amb. Oluremi Oliyide, Nigerian Ambassador to the Netherlands, and representatives from the Dutch government.

Marchel Gerrmann, representing the Dutch government, and members of the syndication partners—BII, Finnfund, and BlueOrchard—were among the distinguished guests who witnessed this agreement.