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Since its inception in 2006, AccessHolding has invested in six microfinance banks, all of which are regulated entities operating under full commercial bank or special microfinance licenses in their respective countries of domicile. A range of other investment opportunities are currently being screened and prepared in a number of countries in Sub-Saharan Africa, South America and Central Asia.
The table below provides an overview of AccessHolding’s equity investments as of April 2010. Click on the name of each company to obtain more detailed information below. Click on the country name to open the website of the respective investee company in a separate window.
| Country | Investee Company | Total Assets in EUR as of 31 Dec 2009
| Total Loans in EUR as of 31 Dec 2009
|
AH share in %
| Date of initial investment | | Madagascar | AccèsBanque Madagascar (ABM) | 9,933,403 | 5,467,063
| 39.2% | October 2006 | | Azerbaijan | AccessBank (ABA) | 261,294,684 | 208,737,737
| 16.5% | December 2006 | | Tanzania | AccessBank Tanzania (ABT) | 10,689,831 | 6,427,290
| 42.9% | July 2007 | | Nigeria | AB Microfinance Bank Nigeria Ltd | 4,319,781 | 2,678,137
| 50.1% | May 2008 | | Liberia | AccessBank Liberia (ABL) | 6,776,414 | 1,378,955
| 52.0% | August 2008 | Tajikistan
| AccessBank Tajikistan (ABTJ)
| 8,293,067 (as per 30 April 2010)
| 199,816
(as per 30 April 2010)
| 52.0% | April 2010 |
With an active loan portfolio of more than EUR 152.8 million and a portfolio at risk of below 0.3% (PAR>30), AccessBank in Azerbaijan (ABA) is the leading microfinance provider in Azerbaijan and a major player in the country's banking sector. ABA was launched in 2002 by EBRD, IFC, the Black Sea Trade and Development Bank (BSTDB) and the technical partner LFS, and included KfW as additional shareholder in 2004. The bank reached the operational break-even in its second year of existence, and had recovered start-up losses by the end of the third. ABA continues to record staggering growth in virtually all key business figures and an extraordinary high profitability.
AccessHolding was admitted as a new shareholder of ABA in December 2006, and holds currently a share of approx. 16.5 percent of the bank's share capital.
AccèsBanque Madagascar (ABM) was established in October 2006 as AccessHolding's first greenfield venture, in partnership with a group of co-investors including AfriCap Microfinance Fund, Triodos-Doen Foundation, as well as the local commercial bank BFV-SG, a subsidiary of French banking group Société Générale. Two other investors, the International Finance Corporation and the German development bank KfW, have joined the group of shareholders in May 2007.
Having opened its doors to the public in February 2007, ABM has registered strong demand for its product offering, both on the credit and non-credit side. Initial business figures will be released after the first semester of operations. The bank operates under a full banking licence and aspires to become a "house bank" for MSMEs and the lower/middle income strata of the Malagasy population, providing its target clientele with an increasingly sophisticated range of appropriate financial products and services. Currently based in the island nation's capital Antananarivo, ABM intends to branch out into other parts of the country in a foreseeable time period.
As AccessHolding's other network banks, ABM is managed by LFS Financial Systems on the basis of a management service contract.
AccessBank Tanzania (ABT) is the third addition to the emerging AccessHolding network of commercial microfinance banks. Having prepared and spearheaded this venture since its inception, AccessHolding is proud to have brought together a group of reputable international partners for the creation of ABT, including the African Development Bank (ADB), the Belgian Investment Company for Developing Countries (BIO), as well as AccessHolding's shareholders IFC and KfW. The bank will be initially endowed with an equity capital of approx. EUR 3.7 million and will operate under a full commercal bank license.
ABT is established with the objective to become one of the leading retail providers of financial services to MSMEs, as well as other clients in the lower and middle income strata in Tanzania. Despite the existing competition in this market, ABT strives to set new standards in terms of efficiency, transparency, and customer orientation. Within the first five years of operations, the bank aims to build up an outstanding loan portfolio of more than USD 24 million and to reach over 45,000 clients through its services. The bank will initially operate out of the country's commercial capital Dar es Salaam, but will seek to establish numerous branch locations outside Dar in subsequent years.
AccessBank Tanzania is expected to open its doors to the public in October 2007.
In May 2008 Access Microfinance Holding Group established AB Microfinance Bank Nigeria together with Impulse Microfinance Investment Fund N.V. of Belgium. The bank opened its doors to the public on 10th November 2008 after several months of preparation.
Situated in Ikeja, Lagos State, AB Microfinance Bank Nigeria offers a broad range of financial services to micro, small and medium-sized enterprises (MSMEs) and other clients in the lower income strata. The Bank’s vision is to become the leading microfinance bank in Nigeria and to set new standards for the Nigerian banking industry in terms of professionalism, transparency and efficiency. By delivering appropriate financial services to the target group, AB Microfinance Bank Nigeria seeks to contribute to private sector growth and investment, thus helping to create new business and employment opportunities for the Nigerian population.
In its first two weeks of operation, AB Microfinance Bank Nigeria disbursed 86 loans amounting to NGN 15.86 million (ca. EUR 108,700). The Bank also opened 184 accounts with deposits amounting to NGN 1.05 million (ca. EUR 7,200).
During December 2008 the African Development Bank (AfDB) and International Financial Corporation (IFC) of the World Bank Group, and in January 2009 KfW, the German Development Bank, will follow as strategic investors.
In August 2008 AccessHolding together with the International Finance Corporation (IFC), the African Development Bank (ADB) and the European Investment Bank (EIB) established Access Bank Liberia - the Microfinance Bank. AccessBank Liberia (ABL) is a full-fledge commercial bank with special focus on microfinance and as such Liberia’s first microfinance bank. Its distinct mission is to become the bank of choice for the low and middle income strata of the Liberian population and the leading provider of financial services to micro, small and medium enterprises. In January 2009 Access Bank Liberia was officially launched in Monrovia, the nation’s capital, and had a good start of operations during the first quarter. After the first three months of operations, the bank has a loan portfolio of USD 247,651 with a total of 222 loans outstanding at an average loan size of USD 1,116. Deposits are 88% of the loan portfolio with a total value of 219,032. The bank employs a total of 80 staff, out of which 14 loan officers, by the end of March.
Access Bank Liberia has an initial capital of USD 6 million. This amount is expected to be increased to 10 million dollars over the next two years. ABL plans to open two other branches in Monrovia by the end of 2009, and to expand its branch network in Monrovia and throughout Liberia over the next five years.
On 24 June 2009 AccessHolding, together with the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and Kreditanstalt für Wiederaufbau (KfW) signed the shareholder agreements to found and invest in AccessBank Tajikistan (ABTJ). On 29 March 2010 the new CJSC AccessBank Tajikistan has been officially inaugurated. The inauguration ceremony was attended by representatives of the National Bank of Tajikistan, the new bank’s shareholders and the local banking community. Speakers welcomed the market entry of the new bank and highlighted that the foundation of a specialized bank for low and medium income layers of the population is in harmony with the strategy of Tajikistan to alleviate poverty and help develop the private sector. The bank opened doors to customers and disbursed the first loans on 12 April 2010.
The bank has been founded by four international financial organizations which have jointly invested TJS 48 million (USD 11 million). The shares are distributed as follows: Access Microfinance Holding AG of Germany holds a 52 % share, the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) hold 18% each and the German Development Bank KfW holds 12%. Grant funds from governments of Austria, Germany, Japan and Luxemburg will be used to provide technical assistance to AccessBank Tajikistan for regional expansion and the optimal development of products suitable for the Tajik population.
As a fully fledged commercial bank, ABTJ offers a broad range of financial services to micro, small and medium-sized enterprises in Tajikistan as well as the general lower and middle income strata of the Tajik population. ABTJ initially focuses on providing credit to micro and small businesses (on the basis of a cash flow-oriented credit technology), as well as basic savings and payments services. Over time, ABTJ will successively introduce a range of other financial products including agricultural and SME loans, housing and consumer loans, as well as foreign exchange and other banking services. To facilitate the access to finance for entrepreneurs in rural areas, AccessBank will develop a strong regional presence in Tajikistan. It plans to open 17 branches outside of the capital, Dushanbe.
The bank is managed by an experienced international management team. However, the lion share of staff is Tajik citizens. After 5 years the bank envisages to employ approximately 500 staff. By then most management positions will be manned by Tajik staff that has gone through the internal career development of the bank. The bank recruits mainly young people with a university degree in economics, banking or finance. However, candidates will be selected exclusively based on real knowledge and motivation and suitable candidates without university degree or university degree in other areas can apply as well. AccessBank will then provide specific training for the new staff.
The Bank’s vision is to become the leading microfinance bank in Tajikistan and to set new standards for the Tajik banking industry in terms of professionalism, transparency and efficiency. By delivering appropriate financial services to its target group, ABTJ seeks to contribute to private sector growth and investment, thus helping to create new business and employment opportunities for the Tajik population.
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