Access Bank, a main subsidiary of Access Holdings run by Nigerian banker Aigboje Aig-Imoukhuede, is working with partners to address climate change, improve air quality, and build a resilient energy system to support Nigeria’s economic growth. This effort seeks to strengthen the Nigerian economy while also aligning with global sustainability objectives.
The call to action was stressed at the Renewable Energy and Energy Efficiency Association (Alliance) conference in Abuja, titled “Road to Net Zero: Actionable Initiatives for Success.” The event brought together executives from the energy and banking industries to discuss the critical need for renewable energy alternatives.
Magnus Onuoha, president of the Renewable Energy and Energy Efficiency Association, emphasized the Alliance’s accomplishments over the last five years, which included standardizing energy efficiency metrics and harmonizing renewable energy legislation.
He emphasized that the Alliance, along with seven partner organizations, has been critical in improving energy access and security in Nigeria and elsewhere.
“Achieving net-zero emissions paves the way for a more productive economy and a better quality of life, emphasizing human progress and sustainability,” Onuoha added, highlighting the significance of combating climate change and pollution.
Gregory Jobome, executive director of risk management at Access Bank, underlined the company’s commitment to sustainability. He claimed that the bank’s goal now extends beyond traditional banking, with sustainability as a major element.
“This journey involves not just funding but also collaboration to develop and scale sustainable initiatives across Nigeria and Africa,” says Jobome.
Owolabi Sunday, the Deputy Director of the Power and Energy Division, represented Nigeria’s Minister of Power, Adebayo Adelabu. He acknowledged Nigeria’s urgent need to move to cleaner energy sources in the face of climate change.
Access Bank, established in 1988, is a major player in Africa’s financial services sector, with over 700 branches and 60 million customers in 22 markets, including Sub-Saharan Africa, the United Kingdom, and Dubai.
The bank employs about 30,000 people in Nigeria and maintains representative offices in China, Lebanon, and India. Access Bank recently teamed with the International Finance Corporation to offer $10 million in SME finance in Ghana.
The main firm, Access Holdings, has grown its activities throughout Africa and Europe, operating in 12 African countries 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, indicating strength throughout the continent.
