87
Finance
A number of local insurers have since emerged and
competition has increased. The market, however,
is still relatively small. The ZSIC currently has the
broadest distribution network, covering all nine
provincial centers and some critical districts. The
corporation has launched an aggressive market-
ing drive to promote its agricultural products in rural
areas.
The Insurance Act was amended in 2005 to include:
• Compulsor\ local shareholding in insurance com-
panies
• E[haustion of local capacit\ prior to carr\ing out
reinsurance
• Fostering investment of insurance funds in Zam-
bia
• 5evisiting insolvenc\ reTuirements and invest-
ment guidelines
Access Bank
Zambia
Babatunde Balogun
Managing Director
P.O. Box 35273, Lusaka
Tel: +260 211 227 941
A
c
tiv
ity: F
inanc
e &
B
ank
ing
F
ounded in: 2
0
0
9
Access Bank (Zambia) Ltd. is a commercial pan-
African bank that operates in Zambia, with a pres-
ence in seven African countries and offices in the
U.K. and China.
Over the past 26 years, Access Bank has trans-
formed from an obscure Nigerian Bank into a world
class African financial institution. Today, Access
Bank is one of the five largest banks in Nigeria in
terms of assets, loans, deposits, and branch net-
works—a feat that has been achieved through a
strong long-term approach to client solutions, pro-
viding committed and innovative advice.
Access Bank has built its strength and success in
corporate banking and is now taking that expertise
and applying it to the personal and business bank-
ing platform it acquired from Nigeria’s International
Commercial bank in 2012. The last two years have
been spent integrating the business, investing in
the infrastructure, and strengthening the product
offerings.
As part of its continued growth strategy, Access
Bank is focused on mainstreaming sustainable
business practices into its operations. The bank
strives to deliver sustainable economic growth that
is profitable, environmentally responsible, and so-
cially relevant.
Access Bank is consistently seeking for ways to
expand its service platform across the African
continent. The bank currently operates through a
network of about 366 branches across major cities
and commercial centers in Nigeria, Gambia, Sierra
Leone, Zambia, Rwanda, and the Democratic Re-
public of Congo.
The bank, which was established in 2009, is a sub-
sidiary of Access Bank Group, an international bank
that maintains headquarters in Nigeria and has sub-
sidiaries in over ten countries in Africa and Europe.
With Access Bank (Zambia) Ltd.’s integration, the
bank leverages the enterprise wide competences
and acknowledged service excellence of the Ac-
cess Bank Group.
The bank’s main asset is its people, which are the
main reason why it has received awards from well-
known institutions in the financial sector, becoming
one of the best banks in terms of its services. Their
aim is to maintain the quality of its customer service
as well as, in the next 5 years, becoming one of the
top three banks in the country, not only in terms of
size, but also in terms of efficiency.
Aon Zambia
Vincent Witt
Managing Director
Thabo Mbeki Road
P.O. Box 35403, Lusaka
Tel: +260 211 367 288
A
c
tiv
ity: R
isk
M
anag
ement,
R
einsuranc
e,
&
H
uman
Capital
Consul
ting
F
ounded in: 1
9
5
2
Aon is the leading global provider of risk manage-
ment, insurance and reinsurance brokerage, and
human resources solutions and outsourcing servic-
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