Our Partners

Accion Microfinance Bank prides itself as a unique organization with select ownership structure of distinguished, result oriented and service driven international and domestic corporate entities. The shareholding structure of Accion Microfinance Bank is as follows:

• ACCION Investments:
  
  ACCION Investments in Microfinance, SPC is a Boston based investment arm of ACCION International, established to provide equity and quasi-equity financing to microfinance institutions worldwide.  ACCION International has been in the microfinance business for well over 40 years and partners with more than 30 microfinance organizations throughout Latin America, the Caribbean, Asia and Africa, as well as serving U.S. micro-entrepreneurs through the U.S. ACCION Network.   In 2006, ACCION and its partners served more than 2 million active borrowers and since 1996 loaned $9.4 billion to more than 3.97 million people.
  ACCION today is one of the premier microfinance organizations in the world, with a network of lending partners that spans Latin America, the United States and Africa. Over the last four decades, ACCION has built a tradition of developing innovative solutions to poverty.

• NIB (Citigroup):
  
  Citigroup through its subsidiary, Nigeria International Bank Limited (NIB) has had a presence in Nigeria since 1984. The bank offers a broad range of services to corporate and commercial customers, financial institutions (including other banks) and public sector organizations.  In 2004, NIB achieved the very significant milestone of being in operation for 20 continuous years, since the opening of its first branch in September 1984.   Citigroup is a global bank with strong presence in Africa, Asia – Pacific, Central America/Caribbean, Europe, Middle East, North and South America and has won many awards of excellence in areas of banking and financial intermediation.

• Ecobank:
  
  Ecobank is the leading independent regional banking group in West and Central Africa serving wholesale and retail customers.  It has a network covering 18 countries namely: Benin, Burkina Faso, Cameroon, Cape Verde, Central Africa, Côte d’Ivoire, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Sao Tome, Senegal, Sierra Leone, Chad and Togo, with plans to establish presence in East and Southern Africa. The Group has a network of over 320 branches and offices established in the last nineteen years. Ecobank Transnational Incorporated (ETI) the parent company of the Ecobank Group plays a central role in the definition and implementation of common policies and standards on the basis of a “one bank” concept across the group’s network.

• International Finance Corporation:
  
  The International Finance Corporation is the private sector arm of the World Bank Group.   IFC provides loans, equity, structured finance and risk management products, and advisory services to build private sector in developing countries.  IFC invests in enterprises majority-owned by the private sector throughout most developing countries in the world including: Sub-Saharan Africa, East Asia & the Pacific, South Asia, Europe & Central Asia, Latin America & the Caribbean, Middle East & North Africa.

• SME Managers Limited (SME Partnership I & II):
  
  SME Managers is a highly liquid venture capital company with over $30 million equity and debt financing.  SME Managers Limited is a member of the Africa Capital Alliance Group and currently manages over 35 strategic investments in key sectors of the economy (including investments in ACCION Microfinance Bank).  It is basically established to make equity and equity- related investments.

• Zenith Bank Plc:
  
  Zenith Bank remains outstanding with several awards of excellence and a clear leader in terms of profitability, assets base, branch network, quality service and overall performance. With the Bank’s 6,000,000,000 (six billion) ordinary shares of 50 kobo each listed on the Nigerian Stock Exchange on October 21, 2004, Zenith Bank Plc achieved yet another milestone when it raised N53.63bn in February 2006 a Public Offer of 3,000,000,000 (three billion shares); one of the largest amount in the history of the Nigerian Capital Market.

ACCION Microfinance Bank is a product of a strategic alliance of the above six distinguished companies with these intimidating credentials!  Our Future Is Bright!