Access Holdings Plc (“Access Holdings”) has announced that its subsidiary, The Access Bank UK Limited (“Access UK”), has launched its first fully owned subsidiary in Malta, named The Access Bank Malta Limited. The new entity has received banking licence approval from both the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA), marking a major milestone in enhancing trade connectivity between Europe and Africa.
The approval of The Access Bank Malta Limited as a licensed credit institution represents a transformative step in boosting Europe-Africa trade flows. Malta, recognized as a leading international financial hub and a gateway between the two continents, is strategically positioned to play a key role in fostering economic partnerships and advancing commerce between Europe and Africa.
This expansion into Malta enables The Access Bank UK Limited to capitalize on the growing trade opportunities between the two regions. It underscores the Access Group’s unwavering commitment to driving global trade, financial integration, and supporting businesses across these regions.
Roosevelt Ogbonna, Managing Director and Chief Executive Officer of Access Bank Plc, and CEO of the Banking Group, stated: “By establishing operations in Malta, we gain a foothold in a market that connects European and North African economies, bringing us closer to our goal of becoming Africa’s Gateway to the World. This move further strengthens our Bank’s ability to offer innovative solutions tailored to cross-border trade and investment opportunities.”
Jamie Simmonds, Founding Chief Executive Officer and Managing Director of The Access Bank UK Limited, commented: “Europe has become Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions, along with the African Continental Free Trade Area (AfCFTA). As Europe-Africa economic relations enter a new phase, The Access Bank Malta Limited is uniquely positioned to deepen trade ties and meet the evolving financing and banking needs of our clients in these growing markets.”
Renald Theuma, Managing Director and Chief Executive Officer of The Access Bank Malta Limited, highlighted the strategic significance of the expansion:
“Malta’s unique position as a bridge between Europe and Africa makes it an ideal location for our subsidiary. This expansion allows The Access Bank Malta Limited to engage more closely with clients in Europe and provide tailored financial solutions that drive growth and connectivity across both continents.”
The Access Bank Malta Limited will focus on international trade finance, initially employing around 30 people, with plans for controlled growth and expansion in the future.