Access Bank Plc has successfully closed a USD 100 million senior loan facility with a consortium of Development Finance Institutions (DFIs), led by the German DFI DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH, and supported by FinDev Canada, Amsterdam-based asset manager ILX, as well as Austrian DFI OeEB, Oesterreichische Entwicklungsbank AG. This significant financing will support privately-owned MSMEs, small corporates, and family-owned businesses across Nigeria, with a particular focus on promoting female entrepreneurship and economic empowerment.
At least 30 per cent of the facility will be dedicated to gender lens investing in the spirit of the 2X Challenge, ensuring that women-owned and women-managed businesses are prioritised. This initiative is crucial in Nigeria, Africa’s most populous country, where supporting women entrepreneurs and MSMEs can drive job creation and contribute to reducing inequality.
Roosevelt Ogbonna, Group Managing Director of
Access Bank Plc, commented
on the partnership, saying:
“At Access Bank, we remain steadfast in our
commitment to driving economic transformation and fostering inclusive growth
across all the countries we operate. This partnership not only strengthens our
ongoing efforts to empower women in business but also reinforces our support
for Nigeria’s MSME sector, which plays a pivotal role in the country’s economic
development. Through strategic collaborations like this, we continue to enhance
opportunities for underserved communities, and we look forward to building on
this success to impact even more lives across Africa.”
This facility marks the fourth collaboration
between DEG and Access Bank Group, but it is also the first time in their
eight-year partnership that DEG’s has acted as the lead arranger. DEG’s
investment in the deal amounts to USD 25 million, strengthening the long-term
relationship between the two institutions.
Also, Roland Siller, CEO of DEG shared his
thoughts on the partnership, stating that:
“This financing marks a major step in our ongoing
commitment to supporting inclusive growth in Africa. By partnering with Access
Bank, we are not just empowering women entrepreneurs and strengthening MSMEs
but also investing in the future of Nigeria’s economy. This collaboration,
which has blossomed over the last eight years, goes beyond just providing
funding and speaks to our shared commitment in creating sustainable, long-term
opportunities that foster job creation and innovation. At DEG, we are focused
on helping businesses in developing and emerging markets thrive, offering not
just financial support but also advisory services that help them scale and
succeed. Our work with Access Bank is a clear example of how we can build
stronger economies through impactful, sustainable investments.”
In 2024, Access Bank made significant social and
environmental impact across the continent, touching millions of lives and
earning multiple industry accolades. Through various corporate social
investment initiatives in education, entrepreneurship, health, and the
environment, the Group reached over 21 million individuals across Africa.
Through its W-Initiative, the Bank disbursed loans to over a million women-led
SMEs, advancing financial inclusion and gender empowerment.
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| L-R: Roland Siller, Chief Executive Officer, DEG, and Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank, at the signing of a USD 100 million senior loan facility to support Nigerian MSMEs, small corporates, and women-led businesses, held on the sidelines of the Africa CEO Forum in Abidjan, Côte d'Ivoire... recently. |
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| L-R: Roland Siller, Chief Executive Officer, DEG, and Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank, at the signing of a USD 100 million senior loan facility to support Nigerian MSMEs, small corporates, and women-led businesses, held on the sidelines of the Africa CEO Forum in Abidjan, Côte d'Ivoire... recently. |
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| L-R: Saheed Adiamo, Unit Head, Strategic Investments, Access Bank; Roland Siller, Chief Executive Officer, DEG; Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank; Elizabeth Oguegbu, Group Head, Financial Markets and Funding, Access Bank; Uche Onichabor, Team Member, Project and Structured Finance, Access Bank, and Sotochi Ekeocha, Team Member, Strategic Projects and Funding, Access Bank, at the signing of a USD 100 million senior loan facility to support Nigerian MSMEs, small corporates, and women-led businesses, held on the sidelines of the Africa CEO Forum in Abidjan, Côte d'Ivoire... recently. |
About
Access Bank PLC
Access
Bank PLC, a wholly owned subsidiary of Access Holdings PLC, is a leading
full-service commercial bank operating through a network of more than 700 branches
and service outlets spanning 3 continents, 24 countries and over 60 million
customers. The Bank employs over 28,000 people in its operations in Africa and
Europe, with representative offices in China, Lebanon, India, and the UAE.
Access
Holdings, Access Bank’s parent company, has been listed on the Nigerian Stock
Exchange since 1998. The Bank is a diversified financial institution which
combines a strong retail customer franchise and digital platform with deep
corporate banking expertise, proven risk management and capital management
capabilities. The Bank services its various markets through three key business
segments: Corporate and Investment Banking, Commercial Banking, and
Retail Banking. The Bank has enjoyed what is Africa’s most successful
banking growth trajectory in the last 20 years, becoming one of the continent’s
largest retail banks.
As
part of its continued growth strategy, Access Bank is focused on mainstreaming
sustainable business practices into its operations. The Bank strives to deliver
sustainable economic growth that is profitable, environmentally responsible,
and socially relevant, helping customers to access more and achieve their
dreams.
More information: https://www.accessbankplc.com
About DEG
DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, part of
KfW Bankengruppe, has been financing and advising private enterprises operating
in developing and emerging-market countries for over 60 years. With a portfolio
exceeding EUR 10 billion, DEG focuses on sectors including renewable energy,
infrastructure, manufacturing, and agribusiness, aiming to foster sustainable
development and improve living conditions. DEG acts as an impact and climate
investor, helping businesses drive transformation, create skilled jobs, and
generate local income in alignment with the SDGs.
More information: https://www.deginvest.de
About FinDev Canada
FinDev Canada is Canada’s bilateral Development
Finance Institution (DFI), supporting development through the private sector.
We provide financing, investment, and blended finance solutions, as well as
technical assistance and advisory, to promote sustainable and inclusive growth
in emerging markets and developing economies (EMDEs), in alignment with the
Sustainable Development Goals (SDGs) and Paris Agreement commitments.
More information: www.findevcanada.ca
About ILX
ILX is an Amsterdam-based asset manager launched in 2022 to mobilise private
capital for sustainable development. Incubated by the German, Dutch and UK
governments and with commitments from major pension funds, Dutch and Nordic,
ILX invests in syndicated loans arranged by leading MDBs and DFIs in emerging
and frontier markets. Aiming to deliver long-term returns and advance the SDGs,
ILX focuses on climate, infrastructure, and financial inclusion, and has been
an EDFI member since 2023.
More information: https://www.ilxfund.com
About OeEB
Oesterreichische Entwicklungsbank AG (OeEB) has been operating as the
Development Bank of Austria since March 2008. It specializes in the provision
of long-term finance for the implementation of private sector projects in
developing countries which create sustainable development. Additionally, OeEB
provides technical assistance, which can be used to enhance the developmental
impact of projects.
More information: https://www.oe-eb.at/
For
Media and Press Inquiries:
For
media inquiries, please contact:
·
Olakunle Aderinokun
Head, Media and Public
Relations, Access Holdings PLC
·
Anja Strautz
Senior Press Officer, DEG
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