(3 Minutes read)
Access Bank says it is eager to finance green hydrogen projects in Namibia and would aim to ensure businesses in the sector expand.
This comes amid the bank’s plans to set up shop in Namibia after having received provisional authorisation to conduct operations from the Bank of Namibia (BoN). The bank’s project head for Namibia, Oluseun Onasoga, says with the continued expansion of green hydrogen businesses, they would, in turn, create “the wealth of Namibia”.The Access bank has a partnership with the German government, called the ‘German desk’.
This partnership provides support for German businesses that operate in Africa. Onasoga says the bank wants to see the expansion of green hydrogen talks because it is committed to sustainability.He says green hydrogen is a new sector and all new markets are prone to risks.
Onasoga says the bank finds any discovery or new economy exciting. Oil and gas is a sector in which Access Bank already operates across both Nigeria and other markets. Today, Namibia’s conversation is about exploration, but there is also the midstream sector and a downstream sector. The questions and the opportunities are endless. Onasoga says such industries provide opportunities for partnerships across mutual markets.
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Access Bank’s authorisation is valid for six months to allow it to meet all requirements before starting operations in the country. BoN spokesperson Kazembire Zemburuka says during the six months, Access Bank is not allowed to conduct banking business with any individual or entity in Namibia.
He says if Access Bank Namibia successfully meets these requirements within the six-month time frame or earlier, the BoN may issue a certificate of authorisation.
