Access Bank envisions harmonised trade, payments systems for Africa’s transformation

By BUUMBA CHIMBULU

TRANSFORMING Africa needs, among other things, a trade and payments system that can allow Africans to own the processes, says Access Bank Executive Director for African Subsidiaries, Seyi Kumapayi.

Mr Kumapayi, therefore, announced intention for the bank to evolve into a leader in international trade facilitation within the continent, through its subsidiary network.

At the stakeholders’ cocktail in Lusaka on Wednesday, he explained that this will be done through providing seamless person to person intra-Africa funds transfer and inter-Africa trade facilitation.

 “In order to transform the continent, there is need for a trade and payments system that can allow Africans to own the processes,” Mr Kumapayi said.

He also said the bank has set itself the vision of becoming the world’s most respected African bank through setting standards for sustainable business practices. Mr Kumapayi said such business practices should begin to unleash the talents of the bank’s employees, deliver superior value to the customers and provide innovative solutions for the markets and communities it serves.

At the same function, Access Bank Zambia Managing Director, Lishala Situmbeko, explained that once Access Bank and Atlas Mara Bank are combined, the financial institution would be firmly in the top five banking groups in Zambia.

Mr Situmbeko said it will have the largest branch network, with a presence across all provinces, providing an enabling convenience for our customers.

“Through this merger, will play a role in Zambia’s economic recovery by building on Atlas Mara’s expansive network,” he said.

He said it would also contribute to the public sector as well as focus on Small Medium Enterprises and making its trade finance, treasury and corporate lending expertise available in the country. “Externally, this combination creates a larger platform to access the COMESA banking opportunity, supporting customers within the region through its network,” Mr Situmbeko said.