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.
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.