MICROCAPITAL BRIEF: AccessHolding Enters Latin America Acquiring 93% Equity Stake in Accion Microfinancas of Brazil

Access Microfinance Holding AG (AccessHolding), a German company that invests in microfinance institutions (MFIs), recently announced that it has acquired 93 percent of the equity in Accion Microfinancas SCMEPP SA, a Brazilian MFI that operates as a subsidiary of US-based nonprofit Accion. The transaction, whose price is undisclosed, was purchased from Accion and is subject to final approval by the Central Bank of Brazil.

Michael Schlein, President and CEO of Accion, expressed confidence that AccessHolding is “well-positioned to take the institution to the next level.” He added that “we know they’ll be excellent stewards of the social mission inherent in its creation.” Following the acquisition, Accion Microfinancas has plans to expand outside of the Brazilian state of Amazonas, where it currently operates.

As of November 30, 2014, Accion Microfinancas reported an active loan portfolio of USD 3.2 million and approximately 3,000 borrowers. The institution does not accept deposits. As of fiscal year 2013, Accion, in association with its partner MFIs, reports an active loan portfolio of USD 7.9 billion serving 6.7 million borrowers in 32 countries. AccessHolding is affiliated with MFIs in sub-Saharan Africa, the Caucasus and Central Asia.

By Charlotte Newman, Research Associate

About Accion

Accion is a private, US-based nonprofit organization with the mission of alleviating poverty by offering financial products such as microenterprise loans and business training. Accion was founded in 1961 and issued its first microloan in 1973 in Brazil. Accion’s partner microfinance institutions provide loans to men and women entrepreneurs through 62 microfinance institutions (MFIs) in 32 countries in Africa, the Americas and Asia. As of 2013, Accion, in association with its partner MFIs, has an active loan portfolio of USD 7.9 billion serving 6.7 million borrowers.

About AccessHolding

Access Microfinance Holding AG (AccessHolding) was established in 2006 in Germany by LFS Financial Systems GmbH (LFS). It invests in microfinance institutions (MFIs) and aims to develop its investments through equity finance, holding services and management services rendered by LFS, which acts as its technical partner. AccessHolding establishes new MFIs together with external partners and transforms existing non-bank microlending institutions into microfinance banks that offer a wider range of services such as deposits. AccessHolding is affiliated with ten MFIs in sub-Saharan Africa, the Caucasus and Central Asia.

Sources and Additional Resources:

[1] AccessHolding news, AccessHolding Acquires Accion Microfinancas SCMEPP S.A. in Brazil

[2] Direct contact with AccessHolding

MicroCapital, November 7, 2014, VisionFund Selling Georgian Microfinance Institution (MFI) Credo to Impact Investors AccessHolding, responsAbility, Triodos

MicroCapital, February 28, 2011, ACCION Microfinancas of Brazil Begins Disbursing Microfinance Loans

MicroCapital Universe Profile: Accion

MicroCapital Universe Profile: AccessHolding

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