Maravi

Access Bank launches Lusaka branch

Access Bank launches Lusaka branch
By Chiwoyu Sinyangwe
Thursday September 25, 2008 [04:00]

ACCCESS Bank Group has observed that most international banks operating in Africa have failed to contribute to the growth of individual countries. Speaking when the bank paid a courtesy call on Vice-President Rupiah Banda on Tuesday, deputy managing director Herbert Wigwe said the Nigerian, bank would also use the Zambian branch to expand into the region. Wigwe also said although Access Group Plc made initial contacts with late president Mwanawasa, the bank stood ready to work under a new leadership.

“Whatever is required to support the real sector of the country, we are ready to do it,” said Wigwe. “In the past, most of the foreign institutions never provided any support to the real sector of the countries in which they worked, and all they tried to do was basically to make profit and move out. And they came in the guise of country limits, political risk. For us, we are Africans despite the different culture.”

Access Group Plc yesterday officially opened its branch in Lusaka which will operate as an independent entity called Access Bank Zambia Limited.

Access Bank Group, which has equity of over US$1.4 billion and plans to spend about US$200 million for African expansion programmes, was given a banking licence by the Central Bank at the beginning of the second quarter this year.

Labels: ACCESS BANK, LUSAKA

posted by MrK @ 6:53 AM