Hong Kong, 30th October 2024 – The Access Bank UK Limited celebrated the official opening of its Hong Kong branch with an elegant evening reception at the prestigious Mandarin Oriental, hosting around 300 esteemed guests. The new branch, established under a restricted banking license, signifies a landmark achievement as The Access Bank UK Limited becomes the first West African bank to establish a presence in Hong Kong. This milestone underscores the bank’s commitment to fostering stronger economic ties between Asia and Africa, a growing corridor for trade and investment.

The launch event drew notable dignitaries, business leaders, and high-profile figures from both Hong Kong and Africa, emphasizing the importance of this expansion for global trade networks. Ambassador Oludare E. Folowosele, Consul General of the Federal Republic of Nigeria in Hong Kong, highlighted the impact of this strategic move in his opening remarks: “I am delighted to celebrate today the opening of a Restricted Licence Bank in Hong Kong in the name of The Access Bank UK Limited. This is a huge milestone in the development of trade flows between Asia and Africa as the first West African banking group to attain this status.

The evening reflected the excitement surrounding this historic occasion, and the bank’s executives emphasised the branch’s role in supporting clients engaged in Asia-Africa trade. Jamie Simmonds, Founding Chief Executive Officer and Managing Director of The Access Bank UK Limited, remarked, “In recent years, Asia has emerged as Africa’s largest trading region, driven by initiatives like the Belt and Road. In 2023, China-Africa trade reached an all-time high of USD 282.1 billion, reflecting a 1.5% year-on-year growth. As Asia-Africa economic relations enter a new phase, the timing of our Hong Kong branch launch is ideal to meet the financing and banking needs of our clients in these expanding markets.”

Ernest Law, Managing Director and Chief Executive of The Access Bank UK Limited – Hong Kong Branch, noted, “We are delighted to establish the Hong Kong branch as a key element of The Access Bank UK Limited’s ongoing growth and international expansion strategy. This new branch will enable us to engage more closely with our clients in Hong Kong and strengthen our capacity to provide tailored financial solutions across the region.” 

As the evening unfolded, guests enjoyed an atmosphere of celebration, reflecting on the positive impact this new branch will have on Africa-Asia trade. This expansion marks a pivotal chapter in The Access Bank UK Limited’s journey, reinforcing its dedication to bridging economies and creating opportunities for trade and partnership across continents.