Access bracing for challenges
Published:Friday | November 21, 2025 | 12:09 AM
Access Financial Services Limited (AFS), the microlender, said it is bracing for challenging times.
Hurricane Melissa disrupted one-fifth of Access Financial Services Limited’s branch network and weakened many customers’ ability to service loans, prompting the microlender to roll out relief measures.
Thirteen of its 17 branches are back in full operation following the October 28 storm, with three others running part-time without utilities. Black River remains shuttered due to extensive damage. The Hurricane which hit sections of the island at 185 miles per hour, will force Access to rethink its medium-term plans.
“At the start of the year, the board created our roadmap for the next three to five years, but Hurricane Melissa would have shifted that roadmap somewhat,” said Chairman Michael Shaw, speaking at the annual general meeting in Kingston on Wednesday. “We will work through the granular details to re-strategise so that we can come back stronger and better. Challenging times, of course, are ahead for all of us”.
Access is a formidable microlender earning $9-million profit for the September quarter, and $234 million over six months or 18 per cent higher year on year. During the year, AFS also secured upgraded corporate credit ratings from CariCRIS, reflecting improved financial performance, a stronger capital base, and prudent risk management.
Chief Executive Officer Hugh Campbell disclosed that eight branches lost electricity, water and telecom services, with Black River, Santa Cruz and Junction the worst affected. He announced a three-month moratorium on loans for customers in those areas, pushing repayments to February 2026, with other cases to be reviewed individually.
“We are still assessing the full impact on our own business and will be sure to keep our stakeholders informed. In the coming months, our ability to pivot and course correct will be tested,” Campbell said.
Commenting on a cybersecurity incident that took place during February and March this year, the CEO said the cyber-attack “triggered an immediate and decisive response” from the company which was “able to cauterize it and implement necessary measures to mitigate future attacks.”
Campbell said AFS will continue to invest in its IT infrastructure to shore up its cybersecurity system.
“One thing the incident taught us was the importance of being super vigilant. And we continue to exercise a high level of monitoring and surveillance of our network to secure our business from future incidents,” he said.