AccessBank Tanzania Ltd.

Equity : May 2013 - September 2014

In the context of a capital increase, recommended by the Banks' founding shareholders, BIO increased its equity investment with € 425,000.

Amount

€ 425,000.00

Type of investment

Equity

Beneficiary locations

Africa: Tanzania

Investment field

Financial Institutions

Activity

Microfinance Institution

Organisation

AccessBank Tanzania Ltd.

Website

https://accessbank.co.tz/

Domicile

Tanzania

More investments in

AccessBank Tanzania Ltd.

Subsidy € 13,700.00 (2012-2012)
Subsidy € 100,000.00 (2007-2008)
Equity € 225,000.00 (2012-2014)
Equity € 274,000.00 (2010-2014)
Debt € 1,500,000.00 (2009-2015)
Equity € 145,000.00 (2009-2014)
Equity € 620,000.00 (2007-2014)

AccessBank is a microfinance bank offering loans, deposits, money transfer and other financial services to privately-owned micro and small enterprises and their owners, as well as the general lower income strata of the Tanzanian population.

The Bank started its activities in November 2007, focusing initially on providing credit to micro-entrepreneurs and accepting deposits from the general public. Chequebooks, money transfer, small enterprises loans and payment cards are the major products offered by the Bank. The use of mobile phone transfer and payment service, offered in cooperation with Vodacom Tanzania (“M-Pesa”), for loan repayment purposes is currently in a pilot phase.

Conclusions of investment

Thanks to its participation, BIO contributed to the deepening and diversification of the microfinance sector in Tanzania, and hence supported the overall economic development of a priority country of the Belgian Cooperation. The staff believes that, throughout the years, BIO’s additionality has been significant, not only thanks to its financial support, but as well to its effective participation to the Board meetings and Board committees. ABT is on a very good way to reach its initial objective to become an enduring part of the Tanzanian banking sector, contributing to enhance financial services available to the MSME sector and contributing to the development of the Tanzanian economy as a whole.

All in all, we believe that our initial objective of launching a long-lasting microfinance bank, improving the financial inclusion, in a priority country has been reached.