Access Bank Receives Full Authorisation in Namibia
SOURCE SIGNAL
The Bank of Namibia granted Access Bank Namibia Limited full authorisation to conduct banking business with effect from 2 October 2026.
The authorisation was granted under section 13(2) of the Banking Institutions Act, 2023, following the central bank’s regulatory assessment. Access Bank Namibia may now accept deposits and provide banking services to the public.
The approval concludes a licensing process that began with provisional authorisation in October 2024 and subsequently required several extensions while the outstanding regulatory requirements were completed.
Access Bank Namibia forms part of the Nigerian-headquartered Access Bank group’s wider African banking network.
COUNTRY IMPACT
Full authorisation introduces another international banking group into Namibia’s commercial banking market.
The new entrant can compete for retail and business deposits, lending relationships, payments and other financial services. Its regional and international network may also support businesses operating across African markets.
The licence does not establish how quickly Access Bank will expand its branch network, customer base or lending portfolio. Those operating outcomes remain to be demonstrated. The material milestone is that the bank has moved beyond provisional approval and is now authorised to provide banking services to the Namibian public.
RELEVANCE TO SUNGATE
Access Bank has no identified financing or operating relationship with SUNGATE.
Its relevance lies in the continued expansion of Namibia’s commercial and financial-services environment. A mixed-use development intended to accommodate commercial, logistics, industrial, retail and hospitality activity depends on access to banking, payments, business finance and cross-border financial services.
An additional authorised commercial bank broadens the institutional environment available to Namibian companies and international investors. This supports the wider investment ecosystem within which developments such as SUNGATE seek to attract businesses and capital.
SOURCE
The Brief, reporting the Bank of Namibia announcement — “BoN grants Access Bank Namibia full banking licence,” 2 October 2026.
