Access Bank Namibia secures full banking license from BoN

Access Bank Namibia has received full authorization to conduct banking business from the Bank of Namibia, clearing the way for the lender to accept deposits and provide banking services to customers in the country. The approval marks a major step in the Nigerian banking group’s expansion into Namibia.

License takes effect

The authorization took effect Oct. 2, according to the Bank of Namibia. Kazembire Zemburuka, the central bank’s director of strategic communications and international relations, said Access Bank Namibia had satisfied the regulatory requirements needed to operate as a licensed banking institution.

The approval ends a nearly two-year licensing process during which Access Bank Namibia operated under provisional authorization while working to satisfy outstanding regulatory conditions. 

The full license now allows the bank to compete directly for deposits, customers and corporate relationships in Namibia’s commercial banking market.

A long regulatory process

Access Bank Namibia initially received a provisional banking license Oct. 4, 2024, with six months to establish its operations and meet the requirements for full authorization. 

The Bank of Namibia later granted extensions in April and December 2025 after the lender did not complete all outstanding conditions within the original period.

“The Bank of Namibia announces that it has granted Access Bank Namibia Limited authorization to conduct banking business in Namibia,” Zemburuka said. The decision removes a key regulatory barrier for Access Bank as it builds a presence in one of Southern Africa’s established financial markets.

Expanding Access Bank’s reach

Access Bank Namibia is part of Access Bank Plc., a wholly owned subsidiary of Access Holdings Plc. The group operates a full-service commercial banking network spanning more than 700 branches and service outlets across three continents and 24 markets, serving about 60 million customers.

Access Bank employs about 28,000 people across its operations in Nigeria and maintains subsidiaries in sub-Saharan Africa and the United Kingdom. The group also operates a branch in Dubai, United Arab Emirates, and representative offices in China, Lebanon and India.

Parent group’s Nigerian roots

Access Holdings has been listed on the Nigerian Exchange since 1998 and has more than 900,000 shareholders. 

The group’s expansion across African and international markets has positioned Access Bank as one of Nigeria’s major financial institutions, with Namibia adding another regulated market to its growing regional footprint.