Business
…underscores strengthening German-Nigerian trade relations
ACCESS Bank Plc last week welcomed the President of the Federal Republic of Germany, Frank-Walter Steinmeier, during his first official visit to Nigeria, underscoring the growing importance of German-Nigerian economic ties. Accompanied by a delegation of German business leaders and representatives, President Steinmeier’s visit highlights Access Bank’s pivotal role in strengthening bilateral trade relations and supporting German businesses operating in Nigeria and across Africa.
President Steinmeier’s visit – which included key discussions with Nigerian President Bola Ahmed Tinubu in Abuja and ECOWAS Chairman Omar Touray – showcased Germany’s commitment to fostering economic partnerships in the region. His Lagos agenda featured a landmark visit to Access Bank, as well as engagements with Nigerian startup founders and German-Nigerian business representatives to explore opportunities for trade and investment.
A central feature of the engagement at Access Bank was a business roundtable hosted by Access Bank’s leadership team and its German Desk. The roundtable brought together German and Nigerian stakeholders, with discussions focused on two key areas: finance and energy, both of which are crucial to bolstering economic growth and innovation in the region.Addressing stakeholders at the Roundtable, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, highlighted that, “Nigeria’s position as Germany’s second-largest trading partner in Africa reflects the mutual benefits of this relationship.” “By leveraging our deep expertise in cross-border banking and market integration, Access Bank is committed to building partnerships that drive sustainable growth, innovation, and economic advancement across the continent,” he added.
President Steinmeier also received remarks from Roland Siller, CEO of DEG (German Development Bank), who elaborated on the financial synergies and products DEG provides to German and Nigerian businesses alike.Access Bank’s German Desk, led by Sebastian Barroso da Fonseca, marked its sixth anniversary this year and has become a cornerstone for German and European businesses operating in Sub-Saharan Africa. The Desk has provided critical support to www.accessbankplc.com over 100 clients, offering end-to-end financial solutions, including local funding facilitation, cash management, and seamless repatriation of funds to corporate headquarters.
With operations spanning Nigeria, Angola, Ghana, South Africa, and beyond, the Desk has played an instrumental role in enabling businesses to navigate complex financial landscapes in Africa.The engagement concluded with a Networking Reception at Access Bank’s headquarters, where delegates and stakeholders had the opportunity to engage and strengthen ties further.President Steinmeier’s visit comes at a time of notable economic progress in Africa.
Despite global challenges, Africa remains the fastest-growing economic region, with its GDP rising by 30% over the past decade and average annual growth rates exceeding 5%. As a key player in the continent’s economic outlook, Nigeria continues to attract interest from global investors, and Germany has emerged as a critical economic partner in this regard. Access Bank has strategically positioned itself as a gateway for trade and investment, leveraging its growing international footprint across 24 countries in Africa, Europe, and Asia to facilitate cross-border collaboration.
18th December, 2024.
C.E.
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