Access Bank Kenya Plc, a subsidiary of the Nigerian group Access Bank, officially launched its activities in Kenya on Monday, November 9. According to bank officials, this step marks a step towards conquering the East African market and the African continent in general.
For Group Managing Director and CEO of Access Bank, Herbert Wigwe, the launch of Access Bank Kenya has not only brought the banking group closer to its vision, but will also enable clients and other stakeholders to leverage the bank’s extensive global network.
For his part, the CEO of the Kenya Bankers Association (KBA), Habil Olaka, welcomed the arrival of the bank, calling it a force for the Kenyan banking sector, adding that, “the bank will contribute enormously to the collective vision to long term to strengthen Kenya’s Sustainable Development Goals (SDGs) ”.
The retail bank is expected to operate 28 branches in Kenya, including five retail outlets in Nairobi, four in Nakuru and three in the Uasin Gishu committee.
In October 2019, Access Bank made a series of acquisitions, including the Kenyan Transnational Bank Limited and the Diamond Bank. With this in mind, the Nigerian bank has also announced its intention to locate in three new African countries, as part of its five-year expansion plan 2018-2022.