Access Bank lifts 25,000 account holders’ trading quests with $2.6bn facility
Leading Tier 1 financial institution, Access Bank Plc has said it has facilitated trade for over 25,000 of its customers with import trade volume of about $2.62bn.
This was made public by the Deputy General Manager, Mr Emeka Eze, at a forum with the lender’s customers in Abuja last week.
The official noted that the bank understood the importance of trade to the development of the economy, adding that this was why it was supporting businesses to thrive.
He recalled that the trade sector was a significant contributor to Nigeria’s Gross Domestic Product, accounting for 18 per cent, with total import trade valued at $28.9bn, saying “Out of this trade value, Access Bank had 12 per cent of the market and was ranked second in the industry with import trade volume of about $2.62bn”.
“Trade is a key determinant of our much needed Foreign Direct Investment. In particular, it is believed that the structure and pattern of trade in African countries should be transformed in order to obtain larger growth benefits.
“At Access Bank, we believe that import and trade remain necessary ingredients for economic growth and that companies in need of inputs towards a finished product need to get the best price, quality and service levels to compete effectively,” Eze averred.
According to him, Access Bank had come up with strategic products to support entrepreneurs, adding that this would help to provide innovative solutions to assist Small and Medium Enterprises (SMEs) to grow their businesses in a structured manner.
