The Access Bank UK Limited has announced a major step in its International growth strategy with the launch of its first fully owned subsidiary, The Access Bank Malta Limited. This milestone follows the successful approval of its banking license by the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA), solidifying the bank’s commitment to enhancing trade connectivity between Europe and Africa.
Malta, a globally recognised financial hub and gateway between the two continents, offers a strategic location for fostering economic partnerships. With the establishment of its Malta subsidiary, The Access Bank UK Limited aims to capitalise on growing trade opportunities and strengthen its role in facilitating Europe-Africa commerce.
Jamie Simmonds, Founding Chief Executive Officer and Managing Director of The Access Bank UK Limited, highlighted the significance of this development: “Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA). With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets.”
The Access Group’s expansion into Malta aligns with its broader vision of becoming the world’s most respected African bank. Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, and CEO of the Banking Group expressed the Group’s global aspirations: “By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World. It further enhances our Bank’s capacity to support clients with innovative solutions tailored to cross- border trade and investment opportunities.”
Renald Theuma, Managing Director and Chief Executive Officer of The Access Bank Malta Limited, emphasised Malta’s strategic importance: “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
This expansion underscores The Access Bank Group’s dedication to supporting businesses and trade across Europe and Africa, driving economic collaboration, and opening new opportunities for customers in these dynamic markets.
