The Bank of Namibia (BoN) has granted Access Bank Namibia a third extension to its provisional banking licence, giving the lender until 10 August 2026 to meet the outstanding conditions required to obtain a full banking licence.
The extension, granted under Section 12(6) of the Banking Institutions Act, 2023 (Act No. 13 of 2023), follows the expiry of the bank’s previous provisional authorisation on 15 June 2026.
BoN Deputy Director for Corporate Communications and Sustainability Naufiku Hamunime said the additional time was intended to allow the institution to satisfy the remaining regulatory requirements before commencing full banking operations.
“The Bank granted an extension of Access Bank Namibia’s provisional authorisation until 10 August 2026, in terms of Section 12(6) of the Banking Institutions Act, 2023 (Act No. 13 of 2023), to enable the institution to satisfy all remaining conditions of its provisional authorisation to the Bank’s satisfaction,” Hamunime said.
The central bank stressed that Access Bank Namibia has not yet been issued with a full banking licence and remains under provisional authorisation.
“Access Bank Namibia has not yet been granted a full banking licence and therefore remains under provisional authorisation. The status has not changed,” Hamunime said.
The latest approval marks the third extension since Access Bank Namibia received its provisional banking licence on 4 October 2024, when it was granted six months to establish its operations before applying for a full licence.
After failing to meet the initial timeline, the central bank granted a first extension in April 2025, followed by a second six-month extension in December 2025, which remained in effect until 15 June 2026.
The repeated extensions mean the bank has now spent more than 21 months operating under provisional regulatory approval while working to meet the central bank’s licensing requirements.
Access Bank Namibia forms part of Nigeria-based Access Bank Plc’s pan-African expansion strategy. The banking group identified Namibia as one of eight priority African markets as it sought to strengthen its continental footprint and position itself to benefit from opportunities created by the African Continental Free Trade Area (AfCFTA).
Access Bank Plc operates more than 600 branches and service outlets across 18 countries on three continents, serving over 49 million customers and employing approximately 28,000 people. Its international network spans Sub-Saharan Africa, the United Kingdom and the United Arab Emirates, with representative offices in China, Lebanon and India.
