MICROCAPITAL STORY: Ecobank and ACCION International to Launch New Microfinance Banks in 20 African Countries

Ecobank Transnational Incorporated, an African regional bank and parent of the Ecobank Group, and ACCION International, a global microlending organization, announce completion of plans to open microfinance banks in at least 20 countries across Africa. The two companies partnered in December, 2006 to expand microfinance operations throughout Western Africa; their current plans are an extension of this effort (see previous story on MicroCapital.org). When implemented, this will mark the creation of the largest regional platform for comprehensive financial services to the population in the informal sector, according to a Business Day Nigeria article.

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