Access Bank supports Green Africa aircraft acquisition

Access Bank has reinforced its commitment to supporting emerging businesses by providing a Naira debt facility to Green Africa, enabling the airline to acquire its first owned aircraft.

The Lagos-based value airline recently secured an ATR 72-500 aircraft (serial number 852, registration mark 5N-GAB) following the temporary suspension of its operations due to aircraft lessor challenges. The new aircraft is expected to commence operations after receiving the necessary regulatory approvals.

Speaking on the development, Roosevelt Ogbonna, Managing Director/CEO of Access Bank, emphasized the bank’s dedication to fostering businesses that drive economic growth and innovation.

“As one of the largest and leading financial institutions on the continent, we at Access Bank take special pride in supporting young businesses that have the potential to redefine their industries and act as major catalysts for positive impact in their local market and across the continent.

We are impressed with the Green Africa story and excited about the brand’s future trajectory. We are delighted to support the acquisition of Green Africa’s very first owned aircraft,” Ogbonna stated.

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Babawande Afolabi, Founder & CEO of Green Africa, described the acquisition as a crucial step in the airline’s expansion.

“We are pleased to acquire our very first aircraft, another significant milestone for Green Africa. This incoming aircraft will be pivotal as we thoughtfully navigate the next phase of our journey to bring safe, affordable, and reliable air travel to a broader group of customers in the region.”

The airline revealed that Access Bank provided a naira-denominated debt facility to help finance the aircraft purchase. This development comes just days after Green Africa halted its flight operations, citing unexpected challenges with its aircraft lessor.

In an earlier statement, the airline expressed regret over the disruption, assuring customers that flights would resume after the Eid-Al-Fitr holidays.

Green Africa emphasized its commitment to transparency, explaining that flight operations had to be temporarily suspended despite efforts to resolve the issue.