The Bank of Namibia (BoN) has granted Access Bank Namibia Limited authorisation to conduct banking business in the country, clearing the way for the lender to accept deposits and provide banking services to the public.
The authorisation took effect on 2 October 2026 and was granted under Section 13(2) of the Banking Institutions Act, 2023, following a comprehensive assessment by the central bank.
BoN Director of Strategic Communications and International Relations Kazembire Zemburuka said Access Bank Namibia had satisfied the requirements for authorisation to operate as a banking institution.
“The Bank of Namibia announces that it has granted Access Bank Namibia Limited authorisation to conduct banking business in Namibia in terms of Section 13(2) of the Banking Institutions Act, 2023, effective from 2 October 2026,” Zemburuka said.
“The public is notified that Access Bank Namibia Limited is now authorised to engage in banking business in Namibia, including accepting deposits from and providing banking services to the public.”
The approval ends a nearly two-year licensing process during which Access Bank operated under provisional authorisation and received several extensions to meet outstanding regulatory requirements.
Access Bank Namibia initially received a provisional banking licence on 4 October 2024, giving it six months to establish its operations and meet the requirements for full authorisation.
BoN subsequently granted extensions in April and December 2025 after the bank did not meet all the required conditions within the initial period.
Its latest extension, granted under Section 12(6) of the Banking Institutions Act, gave the lender until 10 August 2026 to satisfy the remaining requirements.
The full authorisation clears a major regulatory hurdle for Access Bank’s entry into Namibia’s banking market and allows it to compete for deposits and customers alongside existing commercial banks.
Access Bank Namibia forms part of Nigerian-headquartered Access Bank Plc’s broader African expansion strategy, with Namibia previously identified as one of eight priority markets for the group.
