Access Bank Secures USD 100 Million Facility to Empower MSMEs and Women in Nigeria

L-R: Saheed Adiamo, Unit Head, Strategic Investments, Access Bank; Roland Siller, Chief Executive Officer, DEG; Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank; Elizabeth Oguegbu, Group Head, Financial Markets and Funding, Access Bank; Uche Onichabor, Team Member, Project and Structured Finance, Access Bank, and Sotochi Ekeocha, Team Member, Strategic Projects and Funding, Access Bank, at the signing of a USD 100 million senior loan facility to support Nigerian MSMEs, small corporates, and women-led businesses, held on the sidelines of the Africa CEO Forum in Abidjan, Côte d'Ivoire... recently

Access Bank Plc has successfully finalized a USD 100 million senior loan facility with a consortium of Development Finance Institutions (DFIs). The consortium was led by DEG (German DFI) and included FinDev Canada, ILX (Amsterdam-based asset manager), and OeEB (Austrian DFI). 

This significant funding will be directed towards supporting privately-owned Micro, Small, and Medium Enterprises (MSMEs), small corporates, and family-owned businesses across Nigeria. A key focus of the initiative is promoting female entrepreneurship and economic empowerment, with at least 30% of the facility earmarked for gender lens investing under the 2X Challenge. This prioritizes women-owned and women-managed businesses, recognizing their crucial role in job creation and reducing inequality in Nigeria.

L-R: Roland Siller, Chief Executive Officer, DEG, and Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank, at the signing of a USD 100 million senior loan facility to support Nigerian MSMEs, small corporates, and women-led businesses, held on the sidelines of the Africa CEO Forum in Abidjan, Côte d'Ivoire... recently

Roosevelt Ogbonna, Group Managing Director of Access Bank Plc, emphasized the bank's commitment to driving economic transformation and inclusive growth. He stated that this partnership strengthens their efforts to empower women in business and reinforces their support for Nigeria’s MSME sector, which is vital for the country’s economic development. 

Roland Siller, CEO of DEG, highlighted the financing as a major step in supporting inclusive growth in Africa. He noted that the partnership with Access Bank empowers women entrepreneurs and strengthens MSMEs, investing in Nigeria’s economic future. He also emphasized the shared commitment to creating sustainable, long-term opportunities that foster job creation and innovation.

This facility marks the fourth collaboration between DEG and Access Bank Group and the first time DEG has acted as the lead arranger in their eight-year partnership. DEG’s investment amounts to USD 25 million.

L-R: Roland Siller, Chief Executive Officer, DEG, and Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank, at the signing of a USD 100 million senior loan facility to support Nigerian MSMEs, small corporates, and women-led businesses, held on the sidelines of the Africa CEO Forum in Abidjan, Côte d'Ivoire... recently

In 2024, Access Bank demonstrated significant social and environmental impact, reaching over 21 million individuals across Africa through various corporate social investment initiatives. The Bank’s W-Initiative also disbursed loans to over a million women-led SMEs, advancing financial inclusion and gender empowerment.

About Access Bank PLC

Access Bank PLC, a subsidiary of Access Holdings PLC, is a leading full-service commercial bank with over 700 branches and service outlets across 3 continents, 24 countries, and serving over 60 million customers.

About DEG

DEG (German DFI) finances and advises private enterprises in developing and emerging-market countries, focusing on sustainable development.

About FinDev Canada

FinDev Canada is Canada’s bilateral DFI, supporting sustainable and inclusive growth in emerging markets.

About ILX

ILX is an Amsterdam-based asset manager mobilizing private capital for sustainable development in emerging and frontier markets.

About OeEB 

OeEB (Austrian DFI) specializes in long-term finance for private sector projects in developing countries that create sustainable development.