Namibia’s banking sector, valued at about N$200 billion, has a new entrant after the Bank of Namibia granted Access Bank Namibia Limited a banking licence.
In a statement issued on Friday, the central bank said the access was granted to conduct banking business in Namibia effective from 2 October.
“Access Bank Namibia Limited is now authorised to engage in banking business in Namibia, including accepting deposits from and providing banking services to the public,” noted the Bank of Namibia.
Access Bank is a Nigerian owned bank that operates across 24 countries spanning Africa, Europe, and the United Kingdom, with representative offices in China, India, Lebanon, and Hong Kong.
