Onome Amuge
Access Bank is seeking to carve out a role as a conduit for Africa–Caribbean trade and investment, pitching itself as the private-sector platform that can connect African economies with diaspora wealth and expertise.
At the Intra-African Trade Fair (IATF) 2025, hosted by Afreximbank and the African Union, the Nigerian lender underlined its strategy of leveraging demographic growth, natural resources and diaspora linkages to strengthen south–south collaboration.
Sunmbo Olatunji, chief executive for the Caribbean expansion at Access Bank, told delegates that the lender’s push into the Caribbean was designed to make cross-regional trade more seamless. “The Global Africa we want is one without borders in spirit, vision, or opportunity. Our Caribbean expansion reflects a clear commitment to link Africa’s dynamic economies with diaspora wealth and expertise, unlocking a future of shared prosperity,” she said.
Her comments come as African policymakers and financial institutions increasingly look to the diaspora as a source of both capital and expertise. Remittances into Africa reached $54 billion in 2023, according to the World Bank, eclipsing foreign direct investment. Yet much of that flow remains fragmented, expensive, and under-utilised for productive investment.
Access Bank’s expansion into the Caribbean, announced last year, is aimed at reducing friction in remittance flows, opening trade finance channels, and supporting joint ventures across priority sectors. Olatunji identified agriculture and food security, creative industries, sustainable tourism, and digital innovation as areas where Africa–Caribbean linkages could generate growth.
Industry observers note that the strategy also reflects competitive dynamics within African banking. Nigerian lenders, long focused on domestic consolidation, are increasingly seeking international niches as margins are squeezed at home. Access Bank has been among the most aggressive in its pan-African expansion, with operations in more than a dozen African countries, and now sees the Caribbean as a natural extension of its network.
“The private sector must play a pivotal role in building resilience and driving inclusive growth across regions. Financial institutions have a responsibility to provide platforms that enable trade, simplify remittances, and support entrepreneurs,” Olatunji told the conference.
