Access Bank on expanding business footprint in Africa

Access Bank South Africa is making significant strides in expanding its business footprint across Africa, particularly focusing on facilitating intra-African trade and supporting the growth of small and medium-sized enterprises (SMEs). In a recent interview with CNBC Africa, Sandile Shabalala, the Managing Director of Access Bank South Africa, highlighted the importance of leveraging South Africa's position as a gateway to the rest of Africa for trade and investment opportunities. Shabalala emphasized the bank's commitment to working closely with SMEs to enable them to engage in trade activities within Africa and beyond. One of the key points discussed in the interview was Access Bank's strategic focus on SMEs and their role in driving industrialization and economic growth across the continent. Shabalala outlined three main areas in which the bank is supporting SMEs: access to capital, access to new markets, and non-financial support. By providing financial assistance, market insights, and networking opportunities, Access Bank is empowering SMEs to expand their operations and contribute to the development of various African economies. Moreover, Access Bank's extensive network of subsidiaries across Africa allows for streamlined communication and business transactions, making it easier for companies to enter new markets and engage in cross-border trade. Shabalala emphasized the importance of creating connection points between businesses operating in different regions, facilitating trust and enabling seamless trade relationships. Despite the potential for growth and integration presented by initiatives such as the African Continental Free Trade Area (AfCFTA), Shabalala acknowledged that there are still challenges hindering regional trade balance and integration. He underscored the need for collaborative efforts among various stakeholders to address the existing trade finance gap of $82 billion and work towards innovative solutions to enhance intra-African trade. Shabalala expressed optimism about the progress being made in addressing these challenges and the potential for collective action to drive meaningful change in the trade landscape. In conclusion, Access Bank's commitment to supporting SMEs and promoting intra-African trade reflects a broader vision of fostering economic development and regional integration across the continent. By leveraging its expertise, network, and resources, Access Bank is playing a vital role in empowering businesses, facilitating trade, and driving sustainable growth in Africa's evolving economic landscape.