ACCESS BANK (GHANA) LIMITED
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Access Bank Ghana is a medium sized commercial bank that offers full financial services to corporate and SME clients in Ghana. Access Bank Ghana is a listed bank in Ghana since 2016 and part of Access Bank Plc, a top banking group based in Nigeria. The Access Bank Group has operations in several other African countries and presence in the UK, Asia and the Middle East.
What is our funding objective?
FMO provided a USD 25 million senior loan facility to Access Bank Ghana. The funding purpose is to strengthen the bank’s loan book following several years of limited growth in the Ghanaian banking sector. Part of the facility is specifically dedicated towards female SMEs and as such the facility will help the bank to build its (female) SME segment. Access Bank's W initiative, launched in 2014 is dedicated towards providing tailored banking services (both financial and non financial) to female clients.
Why do we fund this investment?
FMO is committed to inclusive economic development. By providing long-term funding and gender related support to Access Bank Ghana, FMO will contribute to women‘s economic empowerment and to the development of a robust SME and corporate sector in Ghana. The banking sector in Ghana is a fundamental channel of economic recovery and growth. FMO can play a positive role by increasing long-term financing capacity as well as helping Access Bank Ghana to finance a diverse range of sectors including SMEs within the Ghanaian market. 46% of businesses in Ghana are female owned, as such Ghana emerges a leading country in the MasterCard Index of Women's Entrepreneurship (MIWE). This underscores the relevance of FMO's support for female owned businesses.
What is the Environmental and Social categorization rationale?
Access Bank Ghana is classified as an E&S Cat B. The high E&S risk portfolio consists of mining and quarrying and electricity/gas/water. The bank has very limited involvement in project finance and the larger exposures are short-term transactions (e.g. trade finance), which typically have a low E&S impact. The bank has implemented an ESMS and in its application, the Ghana office gets support from Group level (Nigeria).
More investments
| Date | Total FMO financing |
|---|---|
| 10/26/2021 | USD 20.00 MLN |
- Region
- Africa
- Country
- Ghana
- Sector
- Financial Institutions
- Effective date
- 3/12/2018
- Total FMO financing
- USD 25.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B