By Ayomide Otitoju
Access Holdings Plc has announced the establishment of its first fully owned subsidiary in Malta, The Access Bank Malta Limited, through its subsidiary, The Access Bank UK Limited. The banking licence for the new entity has been approved by the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA), marking a significant step in enhancing trade connectivity between Europe and Africa.
The approval of The Access Bank Malta Limited as a credit institution is expected to strengthen Europe-Africa trade flows. Positioned as a key international financial centre, Malta serves as a gateway between the two continents, and its strategic location will play a crucial role in advancing commerce and fostering economic partnerships.
This expansion enables The Access Bank UK Limited to capitalize on the growing trade opportunities between Europe and Africa. It reinforces Access Group’s commitment to global trade, financial integration, and supporting businesses across these regions.
Roosevelt Ogbonna, Managing Director and CEO of Access Bank Plc, expressed: “By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us closer to our goal of becoming Africa’s Gateway to the World. This expansion strengthens our Bank’s ability to offer innovative solutions for cross-border trade and investment.”
Jamie Simmonds, CEO of The Access Bank UK Limited, added: “With Europe emerging as Africa’s leading trading partner, initiatives like the EU’s Economic Partnership Agreements and the African Continental Free Trade Area (AfCFTA) are driving growth. The Access Bank Malta Limited is well-positioned to meet the evolving financial needs of clients in these expanding markets.”
Renald Theuma, CEO of The Access Bank Malta Limited, emphasized: “Malta’s strategic location as a bridge between Europe and Africa makes it the ideal base for our subsidiary. This expansion allows us to offer tailored financial solutions that support growth and connectivity across both continents.”
The Access Bank Malta Limited will initially focus on international trade finance, employing approximately 30 people, with plans for controlled expansion in the future.
