Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Access Bank launches its Kenyan Subsidiary, Promises Growth Opportunities for Businesses

NAIROBI, Kenya, Nov 10-Access Bank has expanded its reach across the African continent with the official launch of its Kenya subsidiary.

Group Managing Director and Chief Executive Officer of Access Bank Herbert Wigwe said the bank’s entry into the Kenya market is a key gateway into East Africa and the African continent at large.

“We are excited to have successfully entered into the Kenyan market. Kenya has been recognized as a market leader in mobile money transfers in the financial industry, and we believe that Access Bank can leverage the Kenyan model and replicate the same to achieve success across other African markets,” he said.

According to Wigwe, the launch of Access Bank Kenya did not only bring the banking group closer to its vision but will also enable customers and other stakeholders to tap into the bank’s extensive global network.

It will also translate to immense business opportunities for customers, provision of strong and proficient digital solutions, competitive products, and unparalleled customer experience.

“We are indeed grateful to the people of Kenya for the confidence reposed in us and we promise exciting and cutting-edge innovations that will change the way they see banking,” Wigwe added.

“Access Bank’s entry into the Kenyan market holds great significance for the growth and improvement of the banking sector and for the Kenyan economy. It is a welcome development that all stakeholders are happy with, “Access Bank Kenya Country Managing Director, David Aluko said.

Kenya Bankers Association (KBA) CEO Habil Olaka welcomed the bank’s entrant terming it as a strength for Kenya’s banking industry.

“The bank will contribute immensely to our collective long-term vision of reinforcing Kenya’s sustainable development goals (SDGs). The entry comes at a time when the global banking industry is facing headwinds from the COVID-19 pandemic,” he said.

Advertisement. Scroll to continue reading.

Access’s entry is expected to stiffen the competition among local banks with local leaders Equity and KCB eyeing to become Pan-African banking giants, a fete already reached by the Nigerian lender.

The lender is expected to operate 28 branches in Kenya which include five retail outlets in Nairobi, four in Nakuru, and three in Uasin Gishu County.

 

1 Comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...