Staff Writer– Nigerian Access Bank has opened operations in South Africa, signaling an expansion of its continental footprint into Southern Africa.
The bank says the South African subsidiary cements the bank’s commitment to sub-Saharan Africa as a portal for exceptional banking opportunities across the continent.
Access Bank is the largest bank in Nigeria, with a presence across the continent as well as in Europe and the Middle East. It has entered the South African market through the purchase of Grobank (previously Bank of Athens).
“This means Access Bank SA is firmly seated in one of the principal geographical areas apart from Nigeria, in terms of the size of the economy, and unlocks the gateway to the entire southern African region,” says Access Bank CEO Herbert Wigwe.
“It’s vital that our banking solutions give clients the advantage they need to grow sustainably, with access to smart solutions that help them reach greater goals.”
The bank appointed Bennie van Rooy as MD of Access Bank South Africa, who says the move is critical for Access Bank in expanding its footprint and offers tailored benefits for the South African market.
According to Van Rooy, Access Bank South Africa will be digital-first when it comes to onboarding and offerings, targeting small and medium enterprises.
Access Bank South Africa has also set its sights on entry-level and first-time banking customers, as well as the African diaspora. For corporate banking customers, Van Rooy believes Access Bank is well-positioned to help companies operating across Africa to transaction across borders.
“We work in over-traded and very competitive banking space. To compete in this market, we are taking our specialised customer service and combining it with Access Bank’s product and services.
“As part of the robust Access Bank family, the South African operations look forward to contributing meaningfully to the achievements and ambitions of the group. In offering a full suite of financial service products to a market we understand in-depth, Access Bank SA is delighted to grow the family footprint.”
The South Africa operation will add retail banking, with at least three branches expected to be opened before the end of this year.
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