Access Bank's Green Hydrogen Financing in Namibia
Key Ideas
  • Access Bank expresses eagerness to finance green hydrogen projects in Namibia to support the expansion of businesses in the sector.
  • The bank's project head highlights the importance of partnerships, such as the one with the German government, to facilitate the growth of green hydrogen talks.
  • Access Bank operates with a risk-moderate appetite, understanding the privilege of a banking license and aiming to consistently safeguard it.
  • While Access Bank's authorisation to operate in Namibia is initially for six months, they must meet all requirements before conducting banking activities in the country.
Access Bank is looking to finance green hydrogen projects in Namibia as part of its expansion plans into the country. The bank, having received provisional authorization from the Bank of Namibia, is eager to support the growth of green hydrogen businesses in Namibia. This initiative is in alignment with the bank's commitment to sustainability and its risk-moderate approach to new markets. Access Bank's partnership with the German government, known as the 'German desk,' further highlights its focus on fostering collaborations to drive the green hydrogen sector forward. The project head for Namibia emphasized the importance of understanding the risk profile in emerging sectors like green hydrogen and the privilege associated with operating in such markets. While Access Bank has experience in the oil and gas sector, it sees the potential in the evolving conversation around exploration and development in Namibia's energy landscape. The bank's authorization to operate in Namibia is subject to meeting all requirements within the given timeframe, ensuring compliance before engaging in banking activities within the country. Overall, Access Bank's initiative to finance green hydrogen projects in Namibia signifies a positive step towards sustainable development and partnerships within the renewable energy sector. The bank's commitment to responsible banking practices and its focus on supporting new markets demonstrate a proactive approach to driving economic growth and environmental sustainability in Namibia.
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