The Bank of Namibia has granted provisional authorization to Access Bank Namibia to prepare for conducting banking operations in the country. 

This decision, effective from October 4, 2024, allows Access Bank Namibia six months to meet all regulatory conditions required for full authorisation under the Banking Institutions Act of 2023.

During this provisional period, Access Bank Namibia is prohibited from engaging in any banking activities, including soliciting deposits from individuals or entities in Namibia. 

The central bank's measures aim to ensure that the institution complies with all regulatory requirements before it can officially commence operations. 

If Access Bank Namibia successfully meets these conditions within the allotted timeframe, it may receive a certificate of authorization, allowing it to operate as a fully authorised banking institution.

This development marks a significant step for Access Bank Namibia as it aims to establish its presence in the Namibian banking sector, which has been characterised by a need for increased financial services accessibility