Access Bank Plc has consolidated its operations in Africa with the inauguration of a full–fledged banking subsidiary in Cote d’ Ivoire, following its acquisition of 88 per cent interest in Omnifinance, Cote d’ Ivoire, through a combination of purchase of existing shares and injection of fresh capital.
A statement by the bank on Wednesday, described the development as the commitment of the management of the bank to the socio – economic development of the continent through intelligent expansion across the regions.
The formal opening of the bank, which was performed by the President of the Republic of Cote d’ Ivoire, His Excellency, Mr. Laurent Koudou Gbagbo, through his representative, Mr. Albert Brou, had, in attendance, the Honorable Minister for Industry, Small and Medium Enterprises, Madam Ama Tehua, and the Ivorian business community.
In his address, Gbagbo expressed satisfaction at the coming of the bank into his country and his intention to partner the government and the people in the realisation of the developmental objectives of the country.
He said that the socio-economic climate in Cote d’ Ivoire was conducive for business and assured the bank that the government would continue to make the country attractive to investors through the implementation of economic friendly policies and people–oriented programmes.
The Chairman of Access Bank ( Cote d’ Ivoire) Limited, Mr. Jacob Omataekpo, assured Ivoriens of the immense benefits the entry of the bank would bring to them and other economies in the ECOWAS region.
He enjoined them to patronise the bank, saying that, “with the entry of Access Bank into Cote d’ Ivoire, pace of economic development will become accelerated because this is a bank with high entrepreneurial spirit and commitment to economic development.”
Earlier in his address, the Group Managing Director, Access Bank, Mr. Aigboje Aig-Imoukuede, expressed appreciation for the confidence reposed in the board and management of the bank by the government and people of Cote d’ Ivoire.
He added that the bank was firmly positioned as Africa’s bank of best practice, and through this consciousness the bank would enhance the ethical standards in the Cote d’ Ivoire’s financial service industry.
He added that the bank would constitute the anchor for the trade that existed between ECOWAS and other regions on the African continent, particularly because of its entrepreneurial spirit as a company committed not only to large corporates but also small scale businesses and individuals.
He said further that a board of credible individuals had been assembled to oversee the affairs of Access Bank (Cote d’ Ivoire) and that the bank would essentially be run by Ivoriens and leverage on the international network, product base and credit lines of Access Bank Plc and world-class IT capabilities to develop a world-class institution in Cote d’ Ivoire.