Access Bank To Strengthen Nigeria, Netherlands Economic Ties

Access Bank has relaunched its Dutch desk to strengthen business relationships between Nigeria and Netherlands.

Launched in November 2022, the desk helps Dutch entrepreneurs looking to do business in Nigeria with (local) financing.

Speaking at the relaunch of the desk event held at the weekend in Lagos, the managing director/chief executive officer of Access Bank, Roosevelt Ogbonna said that, “we have been working with our partners (British International Investment (BII) and Invest International in Nigeria) across several parts of the continent on our Dutch businesses to drive initiatives in the last two years.”

He said that, “at the Dutch desk, we have supplanted what is a traditional banking model by taking a coloration around behaviour and culture and supplanting that on that traditional banking model and trying to make it work.”

Ogbonna pointed out that the Dutch desk will build trust, provide information, and ultimately support with capital, and catalysing capital for Dutch-Nigerian businesses.

He explained that, “there is no way two people can do business together if they do not know each other, or even appreciate the cultures that they come from. The Dutch desk helps bridge that gap. Because we bring Dutch businesses in line with Nigerian businesses, and we help change the narrative.”

The Consul General of the Kingdom of Netherlands, Michel Deleen said, average volume of trade between the two countries is about £6 billion over the last four years

He said the Dutch desk will provide support and financing to businesses, adding that investment numbers are always a bit tricky because some companies route investment through other countries, while some route them through the Netherlands.

“We are extremely happy for this initiative, the Dutch government in Lagos and Abuja helps companies find their way, but we do not have the financial part, which Access Bank will be providing,” he said.

Business Developer and Dutch Desk officer at Invest International/Access Bank, Nene Barry said that the Dutch Desk is a collaboration between Access Bank and Invest International, saying that the collaboration makes it possible for Dutch and Dutch-linked businesses to get funding locally either in dollar or naira.

She explained that, before now Invest International is the Dutch institution for funding projects of Dutch companies outside of the Netherlands, but with the collaboration with Access Bank, this makes it possible to actually synergize their efforts.

She noted that, through relaunching, we are making the platform more known to the Dutch communities and also to the Nigerian community, so that they can collaborate with Dutch businesses.

Also, director, private sector of Invest International Capital B.V, Michiel Slootweg stated that Invest International is a state-owned enterprise investment fund from the Dutch government that finances Dutch-linked businesses overseas.

He said that “we are here to promote the Dutch-Nigeria trade, and our partnership with Access Bank will assist Dutch businesses who want to invest in Nigeria and also assist Nigerian companies who want to export to the Netherlands.”

He explained that, “we had an initial loan facility of $20 million to Access Bank, and we will be increasing by another $30 million with the aim to lead to Dutch-linked businesses.”

Slootweg, however, said, ‘Access Bank is doing more than the funding we are providing for the Bank.’