Access Holdings Plc (“Access Holdings”) has announced that its banking group’s, subsidiary, The Access Bank UK Limited (“the Access UK”) has established its first fully owned subsidiary in Malta, The Access Bank Malta Limited. The banking licence application has been approved by both the European Central Bank (ECB) and the Malta Financial Services Authority.
(MFSA), signalling a significant step in enhancing trade connectivity between Europe and Africa.
The approval of The Access Bank Malta Limited as a credit institution marks a transformative milestone in bolstering Europe-Africa trade flows. Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa. Managing Director and Chief Executive Officer of Access Bank Plc, and CEO of the Banking Group, Roosevelt Ogbonna, said: “By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.”
Jamie Simmonds, Founding Chief Executive Officer and Managing Director of The Access Bank UK Limited, said, “Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA). With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets.”
The Managing Director and Chief Executive Officer of Access Bank Malta Limited, Renald Theuma, emphasised the significance of this expansion: “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary.”
