Access Bank has successfully raised N442.5 billion in capital through a Tier II Facility agreement in partnership with the Dutch Entrepreneurial Development Bank (FMO). This landmark achievement marks the largest syndication in FMO’s history, underscoring the deep-rooted trust and synergy between the two institutions, a relationship that has been nurtured since 2003.
The significant investment, which involves esteemed global partners such as British International Investment, BlueOrchard, FinDev Canada, Finnfund, Norfund, Oikocredit, and Swedfund, is poised to make a substantial impact. These funds will primarily empower small and medium-sized enterprises (SMEs), with a special focus on youth and women-owned businesses, agriculture, and very small enterprises. This targeted approach aims to stimulate economic growth at the grassroots level, fostering innovation and entrepreneurship in key sectors.
As an institution deeply committed to the development of Africa and its people, Access Bank continues to play a pivotal role in stimulating business development, creating jobs, and deepening financial inclusion. This new capital injection will enable the bank to further its mission of supporting SMEs, which are crucial drivers of economic growth and job creation in Nigeria and across the continent.
Roosevelt Ogbonna, the Group Managing Director of Access Bank, expressed his enthusiasm about the deal, stating, “This historic partnership with FMO and our global partners reaffirms our commitment to driving sustainable economic growth in Africa. By focusing on youth and women-owned businesses, agriculture, and very small enterprises, we are not only fostering inclusive growth but also ensuring that the benefits of our economic initiatives reach the most vital segments of our society.”
Access Bank’s strategic initiatives, powered by this significant capital raise, will continue to support the bank’s vision of becoming the world’s most respected African bank, recognized for its exceptional service delivery and innovative financial solutions.
