Access Holdings Plc today announced the launch of The Access Bank Malta Limited, its first fully owned subsidiary in Malta. The bank has received approval from both the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA) for a banking license, marking a significant development in strengthening trade ties between Europe and Africa.
The approval of The Access Bank Malta Limited as a credit institution paves the way for enhanced economic connectivity between the two continents. Strategically positioned as a financial hub between Europe and Africa, Malta is set to play a pivotal role in facilitating trade and fostering economic partnerships.
This expansion aligns with Access Bank UK’s strategy to capitalize on the growing trade opportunities between Europe and Africa. The move is part of Access Group’s broader mission to support global trade, integrate financial services, and provide innovative solutions to businesses across both regions.
Roosevelt Ogbonna, Managing Director and CEO of Access Bank Plc, emphasized the importance of the move: “Establishing operations in Malta gives us a strong presence in a market that connects European and North African economies, reinforcing our vision of becoming Africa’s Gateway to the World.”
Jamie Simmonds, Founding CEO of The Access Bank UK Limited, noted the significance of Europe-Africa relations, stating: “With Africa’s growing economic ties with Europe, particularly through initiatives like the Economic Partnership Agreements and the African Continental Free Trade Area (AfCFTA), The Access Bank Malta Limited is poised to meet the increasing demand for trade and investment solutions.”
Renald Theuma, CEO of The Access Bank Malta Limited, added: “Malta’s strategic location makes it the ideal base for our operations. This expansion enables us to offer tailored financial services and deepen connections between Europe and Africa.”
The Access Bank Malta Limited will focus on international trade finance, further solidifying Access Bank’s commitment to facilitating cross-border commerce and investment.
