By Abiodun JIMOH
Access Bank UK Limited has officially opened its Hong Kong branch, marking a significant milestone as the first West African bank to establish a presence in the region. This expansion underscores Access Bank’s commitment to strengthening trade ties between Africa and Asia, positioning itself to facilitate the rising flow of business between these continents.
The Hong Kong branch, operating under a restricted licence, offers Access Bank UK a strategic foothold in Asia. Jamie Simmonds, Founding CEO and Managing Director of Access Bank UK, highlighted the alignment of this expansion with Hong Kong’s role as an international financial hub, stating, “Asia has emerged as Africa’s largest trading partner, with China-Africa trade alone reaching $282.1 billion in 2023. Launching our Hong Kong branch is a timely move to support growing economic connections in this region.”
The new branch will primarily focus on international trade finance and commercial banking services, providing targeted financial solutions for clients engaged in Asia-Africa trade. Ernest Law, Managing Director and Chief Executive of the Hong Kong branch, emphasized the branch’s role in enhancing client engagement in the region, with an initial staff of 25 and plans for controlled expansion as demand grows.
Ambassador Oludare E. Folowosele, Nigeria’s Consul General in Hong Kong, commended Access Bank UK on this milestone, noting its alignment with initiatives like China’s Belt and Road, which are projected to drive further business and trade opportunities between Africa and Asia.
Access Bank, through its vast network and strategic presence across continents, continues its ambitious growth path, fostering sustainable economic relationships and elevating its vision to be a globally respected African bank.
