Members' Spotlight: Access Bank -A bridge between Africa and Europe

The Access Bank Malta Ltd is the first bank authorised in Malta in over a decade. Its CEO Ray Micallef explains how the island is the perfect bridge between Africa and Europe for its trade finance mandate.

For those who don’t know your company, can you provide some background?

The Access Bank Malta Ltd is a fully owned subsidiary of The Access Bank UK Ltd. It was licensed as a credit institution in Malta by the Malta Financial Services Authority on 9 December 2024.

It forms part of the Access Banking Group, which is serving more than 60 million customers across three continents and is owned by Access Holdings Plc, a company listed on the Nigerian Exchange Ltd (formerly the Nigeria Stock Exchange).

The Bank serves as the European trade finance hub of the Group, to finance trade flows between Europe and Africa with an emphasis on North Africa

The Bank offers a range of bespoke trade finance services, and its objective is to grow the international business of the Access Bank Group across the trade corridors in Europe and Africa.

Can you share a little-known fact about your company?

It is the first African-owned credit institution established in Malta and the first bank to be authorised in the country in over a decade.

What are you currently working on and what are your company’s plans and strategic priorities for the coming years?

As a fully owned subsidiary of The Access Bank UK Ltd, our Malta operation is designed to be the European Trade Finance Hub for the Group.

Our core focus is to facilitate trade finance services for customers operating across Europe and Africa with a special focus on North Africa. The Access Bank Malta Ltd delivers a range of trade finance products and services with a particular focus on letters of credit. The target customer base comprises businesses in Europe engaged in trade with Africa.

We bring with us the legacy of The Access Bank UK Ltd, a commitment to excellence, innovation, and a relationship-based model. Our business approach is deeply rooted in building long-term partnerships with our customers, supporting their trade finance needs with tailored solutions that drive sustainable growth.

At The Access Bank Malta Ltd, our vision is clear:

• To be the preferred banking partner for businesses engaged in European-African trade.

• To replicate and adapt the success of our parent.

• To expand strategically over the next five years, offering innovative trade finance solutions while ensuring sustainable business growth.

We leverage on the Group’s global network and expertise in trade finance, and provide our customers with access to market insights, financial solutions, and an efficient banking experience.

Are there any projects/achievements of your company that you are exceptionally proud of?

We, at The Access Bank Malta Ltd, are exceptionally proud of our team in Malta who with their dedication and commitment has turned this vision into reality. The Malta team is invariably driven by our core values: leadership; excellence; empowered employees; professionalism; and innovation – all channelled through a strong passion for customers. These principles guide our operations, define how we serve our customers, and underpin our role in driving trade across the regions where we operate.

What in your opinion makes Malta an effective jurisdiction to set up a business?

Malta was a natural choice for The Access Bank UK Ltd. Long recognised as a strategic gateway between Europe and Africa, Malta boasts a rich history in international commerce. Its central location in the Mediterranean positions it as a key hub for global trade finance. Of 21 banks operating on the island, three now specialise in trade finance – demonstrating Malta’s growing importance in this space. The country is also home to one of the most active Freeports in the region, reinforcing its role in international trade and logistics.

Malta offers a supportive business environment, underpinned by a robust regulatory and legal framework, an accessible regulatory authority, a strong financial services sector, and a highly skilled, English-speaking workforce. As a full member of the European Union, Malta provides seamless access to EU markets while maintaining strong commercial connections with Africa and the MENA region.

For The Access Bank UK Ltd, establishing a presence in Malta was a strategic decision. It aligns perfectly with our purpose to make a meaningful impact in Africa and supports our vision of becoming the world’s most respected African bank.

What kind of people/companies in the financial services community would you want to connect with?

As the first new bank to be licensed in Malta in over a decade, we are proud to contribute to an evolving financial sector.

The Access Bank Malta Ltd is committed to becoming an active and valued member of the local financial community by fostering close collaboration with Maltese credit institutions. But our presence in Malta goes beyond establishing a footprint: it is about strengthening the trade corridor between Europe and Africa. We are dedicated to working in partnership with our customers, partners, stakeholders and regulators to deliver financial solutions that facilitate trade between Europe and Africa while upholding the highest compliance standards.

As part of the Access Group, the purpose of The Access Bank Malta Ltd is making a positive impact in Africa. Our vision is to be the world’s most respected African bank.

Bio:

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Renald Theuma was appointed Chief Executive Officer and managing director of The Access Bank Malta Ltd in December 2024.

Renald is an Associate of the London Institute of Banking & Finance and is a Certified Documentary Credit Specialist. He has previously served as Deputy CEO and head of business development at IIG Bank (Malta) Ltd, and as executive vice president at FIMBank Plc. Earlier in his career, as a senior manager at Bank of Valletta Plc, he played a pivotal role in establishing the Trade Finance Centre and streamlining the bank’s trade services.

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