Access Bank Hosts President Steinmeier, Commits to Strengthening German-Nigerian Trade Relations
Lagos, Nigeria – December 19,
2024: Access
Bank Plc last week welcomed the President of the Federal Republic of Germany,
Frank-Walter Steinmeier, during his first official visit to Nigeria,
underscoring the growing importance of German-Nigerian economic ties.
Accompanied by a delegation of German business leaders and representatives,
President Steinmeier’s visit highlights Access Bank’s pivotal role in
strengthening bilateral trade relations and supporting German businesses
operating in Nigeria and across Africa.
President Steinmeier’s visit –
which included key discussions with Nigerian President Bola Ahmed Tinubu in
Abuja and ECOWAS Chairman Omar Touray – showcased Germany’s commitment to
fostering economic partnerships in the region. His Lagos agenda featured a
landmark visit to Access Bank, as well as engagements with Nigerian startup
founders and German-Nigerian business representatives to explore opportunities
for trade and investment.
A central feature of the engagement
at Access Bank was a business roundtable hosted by Access Bank’s leadership
team and its German Desk. The roundtable brought together German and Nigerian
stakeholders, with discussions focused on two key areas: finance and energy,
both of which are crucial to bolstering economic growth and innovation in the
region.
Addressing stakeholders at
the Roundtable, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of
Access Bank Plc, highlighted that, “Nigeria’s position as Germany’s
second-largest trading partner in Africa reflects the mutual benefits of this
relationship.”
“By leveraging our deep
expertise in cross-border banking and market integration, Access Bank is
committed to building partnerships that drive sustainable growth, innovation,
and economic advancement across the continent,” he added.
President Steinmeier also
received remarks from Roland Siller, CEO of DEG (German Development Bank), who
elaborated on the financial synergies and products DEG provides to German and
Nigerian businesses alike.
Access Bank’s German Desk,
led by Sebastian Barroso da Fonseca, marked its sixth anniversary this year and
has become a cornerstone for German and European businesses operating in
Sub-Saharan Africa. The Desk has provided critical support to over 100 clients,
offering end-to-end financial solutions, including local funding facilitation,
cash management, and seamless repatriation of funds to corporate headquarters.
With operations spanning Nigeria, Angola, Ghana, South Africa, and beyond, the
Desk has played an instrumental role in enabling businesses to navigate complex
financial landscapes in Africa.
The engagement concluded with
a Networking Reception at Access Bank’s headquarters, where delegates and
stakeholders had the opportunity to engage and strengthen ties further.
President Steinmeier’s visit
comes at a time of notable economic progress in Africa. Despite global
challenges, Africa remains the fastest-growing economic region, with its GDP
rising by 30% over the past decade and average annual growth rates exceeding
5%. As a key player in the continent’s economic outlook, Nigeria continues to
attract interest from global investors, and Germany has emerged as a critical
economic partner in this regard. Access Bank has strategically positioned
itself as a gateway for trade and investment, leveraging its growing
international footprint across 24 countries in Africa, Europe, and Asia to
facilitate cross-border collaboration.
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Access
Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading
full-service commercial bank operating through a network of more than 700
branches and service outlets spanning 3 continents, 24 countries and over 60
million customers. The Bank employs over 28,000 people in its operations in
Africa and Europe, with representative offices in China, Lebanon, India, and
the UAE.
Access
Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian
Stock Exchange since 1998. The Bank is a diversified financial institution
which combines a strong retail customer franchise and digital platform with
deep corporate banking expertise, proven risk management and capital management
capabilities. The Bank services its various markets through three key business
segments: Corporate and Investment Banking, Commercial Banking, and
Retail Banking. The Bank has enjoyed what is arguably Africa’s most
successful banking growth trajectory in the last 18 years, becoming one of the
continent’s largest retail banks.
As
part of its continued growth strategy, Access Bank is focused on mainstreaming
sustainable business practices into its operations. The Bank strives to deliver
sustainable economic growth that is profitable, environmentally responsible,
and socially relevant, helping customers to access more and achieve their
dreams.
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