Business and trading activities between Nigeria and The Netherlands are set to witness a new lease of life as Nigeria’s biggest bank, Access Bank has relaunched its Dutch Desk.
The relaunch, which was attended by eminent business men and women in Nigeria and the Netherlands, was a follow up of the November 2022 launch of the desk that is targeted to strengthen Nigerian and Dutch-owned businesses.
The rejuvenated desk, according to Nene Barry, Manager, Dutch Desk, helps Dutch entrepreneurs looking to do business in Nigeria with (local) financing.
She added that the Dutch Desk is a collaboration between Access Bank and Invest International, saying that the collaboration makes it possible for Dutch and Dutch-linked businesses to get funding locally either in dollar or naira.
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She explained that before now Invest International is the Dutch institution for funding projects of Dutch companies outside of the Netherlands, but with the collaboration with Access Bank, this makes it possible to actually synergize their efforts.
She noted that through relaunching we are making the platform more known to the Dutch communities and also to the Nigerian community, so that they can collaborate with Dutch businesses.
Speaking at the relaunch of the desk in Lagos, the Managing Director/ Chief Executive Officer of Access Bank, Mr. Roosevelt Ogbonna, said “We have been working with our partners, British International Investment (BII) and Invest International in Nigeria and across several parts of the continent on our Dutch businesses to drive initiatives in the last two years.”
He said the Dutch Desk partners have done a lot of path finding, building business relationships and friendships, saying that “at Dutch desk, we have supplanted what is a traditional banking model by taking a coloration around behavior and culture and supplanting that on that traditional banking model and trying to make it work.”
He added that the Dutch Desk will build trust, provide information, and ultimately support with capital, and catalyzing capital for Dutch-Nigerian businesses.
He explained that “there is no way two people can do business together if they do not know each other, or even appreciate the cultures that they come from. The Dutch desk helps bridge that gap. Because we bring Dutch businesses in line with Nigerian businesses, and we help change the narrative.”
He added that “we want to be that economic ambassador helping to tell the Nigerian story abroad. And I think the work that the Dutch desks will do, will ensure that between Dutch businesses and Nigerian businesses, we can change that narrative.”
He also said the platform will allow Dutch businesses looking for new markets, and Nigerian businesses seeking to explore beyond their traditional trade groups, to be able to find a way to do so.
He added that “through our partnership we will be able to support this business’s trade, either providing capital for payment and settlement, or providing capital to ensure that we can make sustainable investments in their businesses through acquisition of fixed assets, or conversion of their energy sources so that they can remain competitive.”
The Consul General of the Kingdom of Netherlands, Michel Deleen said that average volume of trade between the two countries is about £6 billion over the last four years
He said the Dutch desk will provide support and financing to businesses, saying investment numbers are always a bit tricky because some companies route investment through other countries, while some route them through the Netherlands.
“We are extremely happy for this initiative, the Dutch government in Lagos and Abuja that helps companies finding their way, but we do not have the financial part, which Access Bank will be providing,” he said.
Going forward, Barry added that, “We will be having more interaction between Dutch and Nigerian businesses to promote more trade among them and to have Invest International and Access Bank supporting.”
Also, Director, Private Sector of Invest International Capital B.V, Michiel Slootweg stated that Invest International is a state-owned enterprise investment fund from the Dutch government that finances Dutch-linked businesses overseas.
He said, “We are here to promote the Dutch-Nigeria trade, and this is why we partner with Access Bank Dutch Desk to assist Dutch businesses who want to invest in Nigeria and also assist Nigerian companies who want to export to the Netherlands”.
He added that, “We had given an initial loan facility of $20 million to Access Bank, and we will be increasing by another $30 million with the aim to lend to Dutch-linked businesses”.
He, however, said that Access Bank is doing more than the funding we are providing for the bank.
