Access Microfinance Holding AG is a holding company specializing in microfinance investment based in
It now announces its entrance into the Tanzanian microfinance sphere with the creation of Access Bank Tanzania Ltd (ABT). This new bank will start with 9 branches and will provide loans to medium, small, and micro-enterprises throughout the country. David James, the general manager of ABT, said the bank will support its investors through a combination of growth capital, holding services and on-site technical assistance rendered by its partner, LFS Financial Systems, a German consulting and management company. This new bank is part of a wave of new investments on the part of AccessHolding, which is currently investing in microfinance banks in
ABT meets the requirement for a minimum equity capital of USD 5 million set by the Bank of Tanzania for operating a commercial bank in the country. According to Thomas Engelhardt, chairman of the board of directors of Access Holding AG, ABT will be a private limited liability firm incorporated in
The bank’s shareholders include Access Microfinance Holding AG, which will have 38% shares, African Development Bank (AFDB) (15.8%), Belgian Investment Company for Developing Countries (BIO) (15.8%), International Finance Corporation (IFC) (15.8%), Germany Development Bank-Kreditanstalt fur Wiederaufbau (KfW) (15.8%). According to Mr Engelhardt, in addition to equity, ABT will also require debt funding for the refinancing of its growth loan portfolio.
Access Microfinance Holding AG (AccessHolding), established in 2006, is a commercial microfinance holding company. Its business purpose is to invest in microfinance institutions (MFIs) and concentrates on start-up and early-stage MFIs. It has fund assets at €2.7 million and 3 active microfinance investments as of end February 2007.
–Chryssa Rask, MicroCapital Writer
Additional Resources:
NationMedia.com: Now German micro lender enters Tanzania
MIX Market: AccessHolding Profile
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