After the official virtual launch of Access Bank, South Africa yesterday, the bank promised to fund Small and Medium scale Enterprises(SMEs) as well as support the agricultural value-chain in South Africa.
Speaking at the launch, the managing director/CEO of Access Bank Plc, Herbert Wigwe, stated that the bank will leverage on its experience at funding businesses in the Nigeria to finance SMEs while also using the Grobank imprint in the agricultural sector to support agric value-chain.
Stating that, Access Bank has come to the country with several customer-centric financial products and services to serve both immigrant community and South Africans, he stressed that, the new bank is ready to absorb the underbanked and the unbanked into its financial system, pledging to ensure businesses grow from small to medium and big enterprises, thereby, able to employ more people through its credit facilities.
To him, the new bank will add the global experience of Access Bank together with the retail presence of Grobank, which the new bank now controls, to become a bigger player in the South African financial service space.
Speaking earlier at the launch, the CEO of Access Bank SA, Bennie van Rooy said, the bank will grow organically, as it will open three more branches in the country before the year runs out. This, he added, will complement the Access Bank digital presence and solution to reach its niche market, saying, ‘we are a big bank with a small bank mindset.”
Stating that the financial institution will operate a retail banking while leveraging on African Continental Free Trade arrangement to finance the agric sector, such that, players would be able to export to other African countries through Access Bank financial and advisory supports, hoping to rewrite the banking business in South Africa.
“The bank will service SMEs and the mass market; we will focus on the retail space to persuade the immigrants and South Africans to bank with us. We will offer corporate banking services, commodity financing while targeting to be the bank of choice to our existing and future customers.”
Access Bank will leverage on its African banking knowledge and experience to provide financial solution to customers needs. This, we will do, through both physical and digital presence as we look forward to giving customers more robust and excellence services,” he pointed out.
Corporate customers, he stressed, will now have increased access to trade finance, treasury, international payments and loans through the wider distribution network offered by Access Bank’s presence in the key trade corridors that connect Africa to the rest of the world.
Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.