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AccessHolding
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 24633
Company nameAccessHolding
Country
World Region
Sector1Microfinance and Small Business - Non Commercial Banking
Environmental categoryFI
Department
StatusActive
Date SPI disclosedAugust 7, 2006
Projected board dateSeptember 7, 2006
Previous EventsInvested: October 31, 2006
Signed: October 20, 2006
Approved: October 13, 2006
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
The proposed project involves the creation of Access Microfinance Holding AG (AccessHolding), a commercial microfinance holding company that will make equity investments in microfinance institutions (MFIs) worldwide. AccessHolding will be established by LFS Financial Systems (LFS or the sponsor) with the participation of IFC and a group of other public and private investors. AccessHolding will be founded with an initial capital endowment of EUR18 million.

AccessHolding will focus on setting up new MFIs together with other like-minded investors, but will also invest in early-stage MFIs or non-bank financial institutions (NBFIs) with the aim of transforming them into full-service microfinance banks. Over time, AccessHolding aims to transform into a controlling parent company of a global network of microfinance banks with a common brand identity.

Investee MFIs will receive management, consulting and training services from LFS, as well as centralized holding services in areas such as internal audit, marketing, human resources, product development and rollout, risk management, and information management.

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