Access Bank, linked to Aigboje Aig-Imoukhuede, partners stakeholders on renewable energy
Key Points
- Access Bank partners with energy stakeholders to enhance renewable energy strategies, aiming to tackle climate change and boost Nigeria's economy.
- At the Abuja conference, energy leaders emphasized the urgent need for renewable energy solutions to achieve net-zero emissions and enhance Nigeria's energy access.
- Access Bank’s commitment to sustainability integrates clean energy initiatives into its core business, expanding its reach in global markets.
Access Bank, a key subsidiary of Access Holdings led by Nigerian banker Aigboje Aig-Imoukhuede, has partnered with stakeholders to address climate change, improve air quality, and create a resilient energy system to support economic growth in Nigeria. This move aims to strengthen the Nigerian economy while aligning with global sustainability goals.
The call to action was emphasized at the Renewable Energy and Energy Efficiency Association (Alliance) conference in Abuja, themed "Road to Net Zero: Actionable Initiatives for Success." The event brought together leaders from the energy sector and financial institutions to discuss the urgent need for renewable energy solutions.
Highlighting achievements and future goals
Magnus Onuoha, president of the Renewable Energy and Energy Efficiency Association, highlighted the Alliance’s achievements over the past five years, including the standardization of energy efficiency measures and the harmonization of renewable energy policies.
He noted that the Alliance, along with seven partner organizations, has been crucial in enhancing energy access and security in Nigeria and beyond.
“Achieving net-zero emissions paves the way for a more productive economy and better quality of life, emphasizing human progress and sustainability,” Onuoha said, stressing the importance of tackling climate change and pollution.
Gregory Jobome, executive director of risk management at Access Bank, reaffirmed the bank's commitment to sustainability. He stated that the bank's mission now goes beyond traditional banking, making sustainability a core principle.
“This journey involves not just funding but also collaboration to develop and scale sustainable initiatives across Nigeria and Africa,” Jobome added.
Owolabi Sunday, deputy director of the Power and Energy Division, represented Nigeria’s Minister of Power, Adebayo Adelabu. He acknowledged the urgent need for Nigeria to transition to cleaner energy sources amid the pressing challenges of climate change.
Access Bank's global expansion
Founded in 1988, Access Bank is a leading player in Africa’s financial services sector, with over 700 branches and 60 million customers across 22 markets, including sub-Saharan Africa, the UK, and Dubai.
Employing nearly 30,000 people in Nigeria, the bank also has representative offices in China, Lebanon, and India. Recently, Access Bank partnered with the International Finance Corporation to provide $10 million in SME financing in Ghana.
Access Holdings, the parent company, has expanded its operations across Africa and Europe, operating in 12 African nations and diversifying into banking, asset management, payments, pensions, and insurance.
In the first half of 2024, Access Holdings reported profits of N281.33 billion ($174.5 million), up from N135.4 billion ($84 million) in the same period last year, demonstrating its resilience across the continent.