Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  NIGERIAN STOCK EXCHANGE,THE  >  ACCESS BANK PLC.    ACCESS   NGACCESS0005


My previous session
Most popular
News SummaryMost relevantAll newsOfficial PublicationsSector news

Access Bank : Germany to provide financial support to local companies

share with twitter share with LinkedIn share with facebook
share via e-mail
02/12/2019 | 12:07pm EST

By Kodjo Adams, GNA

Accra, Feb. 12, GNA -Dr Gerd Muller, a German Federal Minister, has expressed his country’scommitment to collaborate with Ghana to provide financial solutions to localcompanies who wish to acquire German equipment or use their services.

The financial supportinclude setting up of accounts, providing short to medium-term creditfacilities, services for financing trade and banking transaction.

Dr Muller announcedthis in Accra, at the opening ceremony of the German Desk Ghana, a summit tooffer financial support and solutions for the German and Ghanaian companies.

The companies thuscan benefit from the combined network of Access Bank, the Association of GermanChambers of Commerce and Industry (AGCCI) and the Deutsche Investitions undEntwicklungsgesellschaft (DEG).

DEG is aprivate-sector enterprises operating in developing and emerging-marketcountries by providing tailor-made solutions, including financing, promotionalprogrammes and individual advice.

A Memoranda ofUnderstanding was signed between Access Bank and DEG; and between the GermanIndustry and Commerce in Ghana and DEG to advance the financial support.

Dr Muller said theglobal network of German Desks connected Peru, Kenya and Nigeria to Indonesiaand Bangladesh.

Ghana, he said, wasone of the Africa’s emerging economies, however, limited access to attractiveand tailor-made financing support was a major impediment to the development oftrade between her and Germany.

Dr Muller said DEGhad, therefore, created a service to close the financing gaps affecting tradeactivities with the support of the Federal Ministry for Economic Cooperationand Development and its stakeholders.

Mr Ken Ofori Atta,the Minister of Finance, said the Summit would serve as a point of contact tonetwork among key stakeholders and chart the path in building stronger synergybetween Germany and Ghana for development.

He said the countryhad witnessed a significant micro and macro growth with inflation rate of 9.4per cent as at the end of 2018, adding that the country was open for businessand welcomed investors for collaboration to increase trade and investment.

The Finance Ministersaid the country was ready to provide the necessary enabling environment forGermany to invest in, especially in the vocational sector for strong andefficient industrialisation drive.

This, he said, tiedin with the agenda of ‘Ghana Beyond Aid’, - which sought an importantpublic-private partnership for investments towards expanding production andcreating job opportunities.

Dr Martin Wansleben,the Chief Executive Officer of AGCCI, emphasised the importance of having aGerman Desk, especially in the time where access to suitable funding in youngemerging markets was often a challenge.

He said the GermanDesk would contribute immensely to the overall business cooperation betweenGhana and Germany by intensifying the competitiveness of German companies inGhana.

Mr Roosevelt Ogbonna,the Deputy Group Managing Director of Access Bank, stated that the initiativedid not only give the Bank a competitive advantage but also helped to show itsexpertise in providing customer-based solutions across all its operatingcountries.

“The partnership withDEG is the first of its kind in Ghana and mirror our successes in Nigeria,” hesaid. “We are leveraging on the global investment footprints of our partnersand our strong local industry expertise to close the finance gaps hamperingtrade activities in Ghana and the sub-region”.


(c) 2019 Ghana News Agency (GNA) Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ACCESS BANK PLC.
09:14aACCESS BANK : Investors scramble for Access Bank, Diamond Bank as merger draws n..
02/17DIAMOND-ACCESS BANK : New dawn for investors, shareholders
02/15KIA MOTORS : Presents Rio Cars to Nigerian Winners of Access Bank Lagos City Mar..
02/15ACCESS BANK : to attract trade finance with Diamond Bank merger – Wigwe
02/14ACCESS BANK : Germany Opens Financial Desk In Ghana
02/13ACCESS BANK : FMO Arranges Syndicated Loan of $162m for Access Bank of Nigeria, ..
02/13ACCESS BANK : partners KFW DEG and others to open German Desk
02/12VALENTINE : Access, Diamond Bank Excite Loyal Customer
02/12ACCESS BANK : Germany to provide financial support to local companies
02/12ACCESS BANK : Nigerians to access N10bn credit from CreditRegistry, others
More news
Financials (NGN)
Sales 2018 304 B
EBIT 2018 111 B
Net income 2018 77 396 M
Debt 2018 -
Yield 2018 10,9%
P/E ratio 2018 2,47
P/E ratio 2019 2,91
Capi. / Sales 2018 0,63x
Capi. / Sales 2019 0,57x
Capitalization 191 B
Duration : Period :
ACCESS BANK PLC. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 12,7  NGN
Spread / Average Target 93%
EPS Revisions
Herbert O. Wigwe CEO, Executive Director & Group Managing Director
Mosunmola Belo-Olusoga Chairman
Ojinika Nkechinyelu Olaghere Executive Director
Oluseyi Kumapayi Chief Financial Officer
Abiye Koko Chief Information Officer
Sector and Competitors