Access Bank (Ghana) Limited has secured a USD 40 million credit facility from the French Development Bank, PROPARCO and FMO, to support its lending activities to the private sector in the Ghanaian economy. The transaction was signed in Rotterdam in the Netherlands on Monday September 29, 2014 and is in line with Access Bank Ghana’s strategy to expand its lending portfolio to key sectors of the Ghanaian economy by advancing competitively priced loans. Through its extensive branch network, the Bank plans to finance businesses in the Export, Manufacturing, Agro-allied, Infrastructure and Services sectors. Commenting on the transaction, the Managing Director of Access Bank Ghana, Mr. Dolapo Ogundimu stated: “This is a landmark transaction for Access Bank and we greatly appreciate the support and trust of our partners. FMO and PROPARCO have been our partners since we opened shop in 2009, and this facility demonstrates their confidence in our Bank’s strong Corporate Governance and Risk Management policies”. Mr. Ogundimu further added: “This loan will enable our Bank deepen its financial intermediation role and act as a catalyst for Ghana’s development agenda”. On his part Ms. Marie-Hélène Loison Deputy CEO of PROPARCO speaking on behalf of the consortium noted: “This is the second time PROPARCO and FMO are financing the Access Bank Group. PROPARCO is proud to be the lead arranger of this facility which will increase the range of long-term financial resources and strengthen local financing capacities in a wide variety of key economic sectors”
About FMO
FMO (the Netherlands Development Finance Company) is the Dutch development bank. FMO supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO believes a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 6.6 billion, FMO is one of the largest European bilateral private sector development banks. www.fmo.nl
About PROPARCO
Created in 1977, PROPARCO is a Development Financial Institution partly held by Agence Française de Développement (AFD) and private shareholders from the North and South. PROPARCO’s mission is to be a catalyst for private investment in developing countries which targets growth, sustainable development and reaching the Millennium Development Goals (MDGs). PROPARCO finances operations which are economically viable, socially equitable, environmentally sustainable and financially profitable.
About Access Bank Ghana
Access Bank (Ghana) Limited, one of the leading banks in Ghana, was incorporated in May 2009 as a private limited liability company and licensed to carry out universal banking services. The Bank is part of the Access Bank Group, a pre-eminent financial services institution made up of nine (9) African markets, spanning sub-Saharan’s three monetary zones and the United Kingdom. With over 40 branch spread across the country, Access Bank Ghana is leveraging its geographical network to showcase its expertise in Trade Finance, Treasury and Technology driven banking solutions. The Bank is also leading the way with investments in key sectors of the economy including Telecommunications, Oil and gas, Manufacturing and Agriculture.
Press contact:
Paul Hartogsveld
