Access Bank commences operations in
Zambia
By SEUN ADESIDA
Monday, September 29, 2008
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•Phtoto:
Sun News Publishing
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Access Bank Plc, Nigeria's sixth largest bank by assets has
further consolidated its operations on the African continent
with the opening of a full - fledged banking subsidiary in
Zambia after fulfilling all regulatory requirements. The development
demonstrates the commitment of the management of the bank
to the socio - economic development of the continent through
intelligent expansion across the regions.
The bank was formally opened by the Ag. President of the Republic
of Zambia, Mr. Rupiah Banda, with the Governor, Bank of Zambia,
Dr. Caleb Fundanga, Minister of Finance and National Planning,
Hon. N'gandu Magande, Minister of Commerce and Trade, Hon.
Felix Mutati, Nigerian High Commissioner, Mrs. Folake Bello
- Marcus, Chief Executives of Financial Institutions and the
business community.
Speaking at the ceremony, Mr. Rupiah Banda, expressed satisfaction
at the coming of the bank into Zambia and its intention to
partner with the government and people of Zambia in the realisation
of the developmental objectives of the country. He added that
the socio - economic climate in Zambia is conducive for business
and assured the bank that the government of Zambia will continue
to make the country attractive to investors through implementation
of economic friendly policies and people - oriented programmes.
In his speech, the Chairman of Access Bank (Zambia) Ltd, Mr.
Caleb Mulenga, assured Zambians of the immense benefits that
the entry of the bank would bring to them and other economies
in the SADC region, and enjoined Zambians to patronise the
bank. “With the entry of Access Bank into Zambia, pace
of economic development will become accelerated because this
is a bank with high entrepreneurial spirit and commitment
to economic development”.
Earlier, Mr. Herbert Wigwe, the Group Deputy Managing Director,
Access Bank, in his address, expressed appreciation for the
confidence reposed in the Board and Management of the bank
by the government and people of Zambia by granting it an operational
license. He assured the government and the people of Zambia
of a partnership that will participate in the development
of the country and its economy and citizens. He added that
Access Bank was firmly positioned as Africa's Bank of Best
practice, and through the consciousness, the bank would enhance
the ethical standards in the Zambian financial service industry.
He added that Access Bank would constitute the anchor for
the trade that exists between the SADC and the East African
region, particularly because of the entrepreneurial spirit
as a company committed not only to large corporate but also
small scale businesses and individuals. He said further that
a Board of credible individuals has been assembled to oversee
the affairs of Access Bank (Zambia) Ltd and that the bank
would essentially be run by Zambians and leverage on the international
network, product base and credit lines of Access Bank Plc
and world - class I.T capabilities to develop a world class
institution in Zambia.
Access Bank through its operations in Zambia has made a grand
entry into the SADC region after a recent announcement of
its acquisition of Omnifinance Bank, Cote d'Ivoire, Bancor
Bank, Rwanda, Banque Privée Du Congo spread across
the Western, Central and Eastern African sub-regions respectively.
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