Access Holding signals plans to expand to Caribbean

Access Holding Plc on Friday signalled plans to expand to the Caribbean countries to deepen trade links between Africa and the Caribbean.

Aigboje Aig-Imoukhuede, group chairman made this disclosure at the ongoing 2024 Afreximbank annual meetings, incorporating the Africaribbean trade and investment forum, in Nassau, The Bahamas.

“When Access Bank comes to the Caribbean, it will bring the necessary digital services that the people here need to thrive,” he said during the plenary session on ‘opportunities for global investment for economic growth and diversification into Caribbean’.

“We are exploring opportunities, which is why Access Bank has been actively participating in various trade and investment conferences facilitated by Afreximbank between Africa and the Caribbean,” Aig-Imoukhuede said.

He explained that before taking any significant steps, it is crucial to understand the environment, adding “We are continually improving our understanding of these markets and are dedicated to establishing strong relationships and partnerships with local stakeholders. And we have been doing a lot of that. So I think you should watch this.”

The Caribbean representative highlighted the challenges faced by Caribbean people in accessing financial services, as well as the difficulty of opening bank accounts on the island.

“When Access Bank comes to the Caribbean, it will bring the necessary digital services that the people here need to thrive,” he emphasized.

The banking industry expert highlighted the remarkable progress of the Nigerian banking sector over the past 30 to 40 years.

Reflecting on his extensive career, Aig-Imoukhuede cited the significant advancements in technology, regulatory capacity, infrastructure, capitalization, and skill levels within the industry.

Aig-Imoukhuede stated “Banking in Nigeria has undergone a profound transformation. Given the extensive changes, Nigerian banks have become one of the nation’s powerful exports. Whether through institutions like Access Bank expanding into new countries or individual Nigerian bankers taking their expertise abroad, they have become excellent ambassadors for Nigeria, sharing our best practices and positively impacting other nations.”

He highlighted on the growing demand for Nigerian banking professionals in the Caribbean as well as the eagerness of Caribbean states to welcome Nigerian bankers.

“Presidents, prime ministers, central bank governors, finance ministers, and even the banking public in the Caribbean have expressed their desire for Nigerian bankers to come and contribute to their financial sectors,” Aig-Imoukhuede emphasized.