News from AccessHolding Head Office
AccessHolding acquires Accion Microfinanҫas SCMEPP S.A. in Brazil
Berlin, 20 January 2015
Access Microfinance Holding AG (AccessHolding) today announced the acquisition of a majority equity stake in Brazilian microfinance institution Accion Microfinanҫas SCMEPP S.A. (Accion Microfinanҫas) from Accion, subject to final approval by the Central Bank of Brazil.
Thomas Engelhardt, Chairman of the AccessHolding Management Board, said, “The acquisition of Accion Microfinanҫas marks our entry into the Brazilian and Latin American market. We are pleased to invest in an institution with excellent growth perspectives in a dynamic market. Its mission to provide accessible and responsible business loans to micro and small entrepreneurs fits very well to our own business model. We look forward to welcoming the new entity and its staff in the Access Group and to working together towards its further growth both within and outside the state of Amazonas.”
“Access is the ideal investor for Accion Microfinanҫas,” said Michael Schlein, Accion’s President and CEO. “Building on a strong foundation, as owner/operators, they are well-positioned to take the institution to the next level. We know they’ll be excellent stewards of the social mission inherent in its creation.”
About Accion Microfinanҫas
Accion Microfinanҫas is a credit-only microfinance institution initially founded by Accion, the Inter-American Development Bank, as Administrator of the Multilateral Investment Fund (IDB/MIF), and a Brazilian shareholder. Its mission is to provide sustainable financial services to micro and small entrepreneurs. It is headquartered in Manaus, the capital city of the state of Amazonas in northern Brazil. As of November 30, 2014, Accion Microfinanças operated four branches in Manaus with an active loan portfolio of USD $3.2 million and more than 3,000 clients. IDB/MIF remains a shareholder of Accion Microfinanças and continues to support the organization together with AccessHolding.
Accion is a global nonprofit dedicated to building a financially inclusive world with economic opportunity for all, by giving people the financial tools they need to improve their lives. Accion is building the next generation of top-tier microfinance institutions, and over the last 50 years has helped create 64 such institutions in 32 countries on four continents that today reach millions of clients. Its impact investing initiatives are pushing beyond microfinance to catalyze more than 20 innovative start-ups dedicated to improving the efficiency, reach and scope of financial services for the poor. Accion´s Center for Financial Inclusion is helping to build a stronger industry with high standards and broad engagement. Currently, Accion´s work spans nearly two dozen countries, including the U.S., where it is the nation’s largest nonprofit microfinance network.