MICROCAPITAL BRIEF: ResponsAbility Social Investments Loans $1.5m to AccessBank Tanzania, $1.3m to EKI of Bosnia and Herzegovina

ResponsAbility Social Investments, a Swiss investment company, recently informed MicroCapital that it has loaned USD 1 million through the responsAbility Global Microfinance Fund (rAGMF), one of the microfinance investment  vehicles (MIVs) it manages, to AccessBank Tanzania, a commercial bank established as part of Germany’s AccessHolding in 2007.AccessBank Tanzania received an additional USD 500,000 in debt from responsAbility SICAV Mikrofinanz-Fonds (rAMF), another MIV managed by responsAbility. ResponsAbility also reports providing two equal disbursements of USD 643,075 in debt to Microcredit Foundation Ekonomsko kreditna institucija (EKI), a microcredit institution based in Bosnia and Herzegovina. One of the loans has been issued through rAGMF and the other has been issued through rAMF.

EKI, established in 1996 as part of UK-based non-governmental organization (NGO) World Vision International (WVI), is a microfinance institution that aims to improve small businesses, service agricultural activities and provide financial services to poor people in Bosnia and Herzegovina. As of 2011, EKI reports total assets of USD 66.8 million, a gross loan portfolio of USD 61.4 million, return on assets (ROA) of 5.71 percent, return on equity (ROE) of 20.5 percent and 35,342 active borrowers.

AccessBank Tanzania, a commercial bank focused mainly on microfinance, reports total assets of USD 32.6 million, a gross loan portfolio of USD 19 million, 12,305 active borrowers and USD 23.2 million in deposits to approximately 77,356 depositors as of the same period. AccessHolding, a joint-stock company with committed capital of EUR 26.4 million (USD 37 million), holds a 42.9-percent stake in AccessBank Tanzania.

By Sarah Benali, Research Associate

About AccessBank Tanzania                                                                                                                   AccessBank Tanzania (ABT), one of six members of the German joint-stock company AccessHolding, is a commercial bank based in Dar-es-Salaam that has been in operation since 2007. ABT offers financial services to micro-, small and medium-sized enterprises (MSMEs) as well as the lower income segment of the Tanzanian population. As of 2011, ABT reports total assets of USD 32.6 million, a gross loan portfolio of USD 19 million, 12,305 active borrowers and USD 23.2 million in deposits to approximately 77,356 depositors.

About Microcredit Foundation Ekonomsko kreditna institucija (MCF EKI)                                                               Microcredit Foundation Ekonomsko kreditna institucija (MCF EKI), part of US-based non-governmental organization (NGO) World Vision International (WVI), has been in operating since 1996 in Bosnia and Herzegovina. EKI has 66 offices and 280 employees across the country. EKI provides loans and other financial services with the aim of improving small businesses, servicing agricultural activities and providing services to poor individuals.  As of 2011, EKI reports total assets of USD 66.8 million, a gross loan portfolio of USD 61.4 million, return on assets (ROA) of 5.71 percent, return on equity (ROE) of 20.5 percent and 35,342 active borrowers. EKI does not accept deposits.

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 a joint-stock company with committed capital of EUR 26.4 million (USD 37 million). As of March 2012, AccessHolding has investments in AccesBanque Madagascar (39.2 percent share); AccessBank Azerbaijan (16.5 percent share); AccessBank Tanzania (42.9 percent share); AB Microfinance Bank Nigeria Limited (50.1 percent share); AccessBank Liberia (52 percent share); and AccessBank Tajikistan (52 percent share).

Sources and Additional Resources

Information submitted by responsAbility to MicroCapital

MicroCapital.org Story: “MICROCAPITAL BRIEF: ResponsAbility Funds Invest $2m in ProEmpresa of Peru, $1.5m in COAC Progreso of Ecuador,” October 15, 2012,https://www.microcapital.org/microcapital-brief-responsability-funds-invest-2m-in-proempresa-of-peru-1-5m-in-coac-progreso-of-ecuador/

MicroCapital Universe Profile: AccessBank Tanzania
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=AccessBank+Tanzania

MicroCapital Universe Profile: AccessHolding
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Access+Microfinance+Holding+AG+%28AccessHolding%29

MicroCapital Universe Profile: Microcredit Foundation EKI
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microcredit+Foundation+EKI

MicroCapital Universe Profile: ResponsAbility Social Investments
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility

MicroCapital Universe Profile: ResponsAbility SICAV Mikrofinanz-Fonds (rAMF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Mikrofinanz-Fonds

MicroCapital Universe Profile: ResponsAbility Global Microfinance Fund (rAGMF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=responsAbility+Global+Microfinance+Fund+%28rAGMF%29

MicroCapital Universe Profile: World Vision
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=VisionFund+International

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