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 signal 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’.
Responding to BusinessDay’s question on plans to establish
presence in the Caribbean, he said, “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 before taking any significant steps, it
is crucial to understand the environment. “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 noted the challenges faced by
Caribbean people in accessing financial services, highlighting the difficulty
of opening bank accounts on the island.
Aig-Imoukhuede stressed the need for an indigenous or local
bank to understand the financial needs of the Caribbean people.
“When Access Bank comes to the Caribbean, it will bring the
necessary digital services that the people here need to thrive,” he said.
The banking industry guru highlighted the remarkable
progress of the Nigerian banking sector over the past 30 to 40 years.
Reflecting on his extensive career, Aig-Imoukhuede noted significant
advancements in technology, regulatory capacity, infrastructure,
capitalization, and skill levels within the industry.
“Banking in Nigeria has undergone a profound
transformation,” Aig-Imoukhuede stated. “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 emphasised the growing demand for Nigerian banking
professionals in the Caribbean, highlighting 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 remarked.