The Nigerian bank, Access Bank, signed a subordinated syndicated loan agreement worth 58.18 billion naira ($ 162.5 million) on Monday (March 11th) with a consortium of Dutch-led financial institutions. FMO. The line is intended to promote growth and job creation by supporting micro, small and medium enterprises (MSMEs).
The facility will qualify as Level II capital, enabling Access Bank to implement its five-year strategy of becoming Africa’s gateway to the world. Part of the strategy will therefore be to strengthen the footprint in the retail segment and to increasingly support local micro, small and medium-sized businesses.
“The agreement further strengthens the fact that our institution remains globally respected and renowned. The facility is designed to support the bank’s efforts to promote the growth and job creation potential of the private sector through improved access to financing, “said Herbert Wigwe, Group Chief Executive Officer and Chief Executive Officer. Access Bank.
This facility was set up by FMO, a Dutch development bank, together with BIO (Belgian investment company for developing countries SA), the Blue Orchard microfinance fund, the CDC plc group, the DEG German and Finnish investment) and the Finnish fund Finnfund.
