Over the past century, the world has witnessed rapid transformation and development, but now it is crucial to revolutionise current models and embrace sustainability as a critical factor in shaping economic progress. As nations strive to address pressing global challenges, the integration of environmental, social, and governance (ESG) principles into the core of our existence has become paramount. Africa is uniquely positioned to lead the transformative shift toward sustainability, given its abundant natural resources, youthful population, and untapped economic potential. The continent’s abundant renewable energy sources – such as solar, wind and hydropower – offer opportunities to bypass traditional, carbon-intensive development models. Investing in sustainable agriculture, eco-friendly infrastructure, circular economies, and green technologies will ensure a healthy environment for future generations.
Sustainable finance: a global imperative
The United Nations’ Sustainable Development Goals (SDGs) provide a framework for addressing the world’s most pressing challenges by 2030. However, the financing gap to achieve these goals is particularly stark in regions like Sub-Saharan Africa, where the shortfall is estimated at $200bn per year. This gap threatens the continent’s ability to make progress in crucial sectors such as education, clean energy, healthcare and climate resilience. Bridging this divide will require not only an evolution in traditional financial mechanisms but also the integration of sustainable finance as a key engine for economic transformation.
Africa is uniquely positioned to lead the transformative shift toward sustainability
As the global economy faces mounting challenges such as climate change, poverty and inequality, financial institutions are being called upon to rethink their traditional roles. Today, banks are no longer seen as mere intermediaries of capital; they are stewards of economic transformation and sustainability and as such the pursuit of profit alone is no longer acceptable. In an era where sustainability is central to economic development, financial institutions must embed sustainable principles into their core strategies. Access Bank, one of Africa’s leading financial institutions, is at the forefront of this transformation. Through its innovative approach to sustainable finance, Access Bank is positioning itself as a key driver of Africa’s future economic growth and a global leader in sustainable development.
A broader vision for Africa’s future
Access Bank is leading the charge in redefining the future of finance by integrating sustainability at its core and continuously raising the bar across various touch points. As one of Africa’s leading financial institutions, it operates across 23 markets on three continents, serving over 60 million customers through a vast network of more than 700 branches and service outlets. The bank employs more than 28,000 people in its operations across Africa, Europe and the UK, with representative offices in China, Lebanon, India and the UAE.
The bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The bank services its various markets through five business segments: personal, business, operations and IT, commercial and corporate & investment banking. Access Bank has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last 18 years, becoming one of the continent’s largest retail banks.
Access Bank is focused on mainstreaming sustainable business practices into its operations
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 socially relevant, helping customers to access more and achieve their dreams. As a pacesetter in the sustainability space, the bank played a key role in collaborating with the United Nations Environment Programme Finance Initiative (UNEP FI) and other leading banks to develop the globally recognised Principles for Responsible Banking (PRB).
Being the only West African bank in the core group, the bank has actively participated in shaping these principles over the last five years, which have become the benchmark for responsible banking institutions worldwide. The bank’s commitment to sustainability is exemplified by various initiatives including the Sustainable Finance Accelerator Programme – a pioneering initiative designed to drive sustainable solutions across the continent, addressing global challenges with bold, visionary action.
The Sustainable Finance Accelerator Programme emerges as a natural evolution of Access Bank’s long-standing dedication to sustainable finance. This programme is not just a financial initiative, but a comprehensive ecosystem designed to empower sustainability-focused projects and businesses. It provides a robust platform where innovative ideas can be nurtured, refined, and ultimately transformed into impactful solutions that address some of Africa’s most critical challenges.
At the heart of the programme lies a multifaceted approach aimed at fostering sustainable development on multiple fronts. Participants in the programme receive personalised mentorship from seasoned experts in sustainable finance and entrepreneurship. These mentors bring a wealth of knowledge and experience, guiding participants through the complexities of developing and scaling sustainable ventures. This one-on-one mentorship is designed to empower entrepreneurs with the skills and insights needed to navigate the rapidly evolving landscape of sustainable finance.
Capacity building is another cornerstone of the programme. Through a series of targeted training sessions and workshops, participants gain deep insights into sustainable finance, climate risk management, and impact investing. These educational components are tailored to equip participants with the technical skills and strategic thinking required to create solutions that are not only innovative but also scalable and impactful. The programme’s focus on capacity building ensures that participants are well prepared to tackle the challenges of sustainable development and contribute meaningfully to the global sustainability agenda.
Access to funding is a critical enabler of innovation, and the Sustainable Finance Accelerator Programme provides participants with multiple avenues for financial support. The programme offers access to loans, seed funding, and impact investment opportunities, ensuring that promising businesses and ideas receive the financial backing they need to thrive. This funding is crucial in helping participants move from concept to reality, or growth to maturity, enabling them to develop, pilot, and scale their projects in a way that maximises their impact on the environment and society.
Networking is another vital component of the programme, connecting participants to a global network of sustainable finance professionals, entrepreneurs, and organisations. This network provides participants with opportunities to collaborate, share knowledge, and access new markets, creating a dynamic ecosystem that supports the growth and success of sustainable ventures. Through these connections, participants are not only able to expand their reach but also to learn from the experiences of others, gaining insights that can help them overcome challenges and seize new opportunities.
The Sustainable Finance Accelerator Programme is not merely about fostering individual business success; it is about addressing some of the most pressing challenges facing Africa today. By targeting issues such as climate change, energy poverty, gender, and the need for sustainable infrastructure development, the programme is strategically positioned to catalyse transformative change across the continent. For instance, by supporting initiatives that reduce carbon emissions, promote renewable energy, and enhance climate resilience, the programme contributes directly to the global achievement of the UN SDGs.
A catalyst for sustainable growth
Access Bank’s significant investment in advanced digital solutions has streamlined internal processes, ushering in a new era of convenience and efficiency for its extensive customer base. By leveraging state-of-the-art technology, the bank has enhanced the customer experience, offering seamless and user-friendly digital services that cater to the evolving needs of modern banking. This relentless pursuit of digital excellence has been crucial for the bank’s expansion efforts, enabling it to reach and engage customers across diverse markets, thereby extending its footprint within and beyond Africa.
Central to Access Bank’s sustainability initiatives is technology, which has witnessed rapid adoption in recent years, disrupting various industries. The bank is leveraging this transformative technology to enhance transparency, accountability, and efficiency in financial transactions. Its innovative blockchain solution, the BLINK Network, has achieved noteworthy milestones, including successful demo presentations of a compelling value proposition for interbank transfers to key stakeholders such as the Central Bank of Nigeria (CBN), controlled pilot interbank test transactions, and the integration of unique features. These advancements underscore the transformative potential of blockchain technology within the financial landscape, setting the stage for continued innovation and disruption.
For Africa to achieve its potential, the financial sector must rise to the challenge
Access Bank is strategically advancing fintech innovation through its Africa Fintech Foundry (AFF), a cutting-edge accelerator programme aimed at empowering tech start-ups across diverse sectors. By facilitating access to mentorship from esteemed industry leaders, experts, and investors, AFF is committed to equipping start-ups with the necessary tools to structure their businesses for sustainable success. Notably, winners from the past AFF x CBN eNaira Hackathon have seamlessly transitioned into the comprehensive Incubation Programme, which incorporates an intensive accelerator phase consisting of tailored mentoring sessions, investor pitches, internal product reviews, and specialised training classes.
Beyond the accelerator phase, participating start-ups benefit from continuous post-accelerator support, including ongoing mentorship from AFF experts, access to a robust network of investors, collaboration opportunities with Access Bank’s customer base, and dedicated co-working spaces. In a further strategic partnership, AFF has aligned with Future Perspective, a non-profit foundation focused on creating a better Africa, to deliver the ‘Innovation to Transform Education’ training programme. This initiative encompasses crucial areas such as digital skills, project cycle planning, evidence-based methodologies, and intercultural competencies, supplemented by a competitive pitch evaluation process.
The top EdTech start-ups identified through this programme will be integrated into the Incubation and Acceleration Programme, ensuring sustained growth and support. By strategically identifying ecosystem challenges and implementing targeted solutions, the AFF accelerator programme is well positioned to nurture the next generation of African unicorns, fostering innovation and sustainable growth in a streamlined and efficient manner.
A changing world
The path forward is clear: sustainable finance is the key to unlocking Africa’s potential. By aligning its financial strategies with the SDGs, Access Bank is contributing to a future where growth is not only inclusive but resilient and impactful. As the world continues to navigate unprecedented challenges – from climate change to economic inequality – Access Bank’s commitment to sustainable finance offers a blueprint for how the financial sector can drive meaningful change.
Indeed, the Access story is not just about a single programme or initiative. It is about a larger vision – a commitment to leveraging finance as a force for good. For Africa to achieve its potential, the financial sector must rise to the challenge, and Access Bank will continue to play its part as a catalyst. The bank’s strategic focus on sustainable finance is already creating a ripple effect, not just across Africa but globally, setting the stage for a future where finance, sustainability, and development converge.
